114 Spring Street presents a rare opportunity to acquire a fully renovated, mixed-use investment asset in the heart of downtown Charleston. This turnkey property features multiple income streams, anchored by a successful triple net leased restaurant operating on a 10-year lease with built-in annual rent escalations, providing a highly stable… Read More and passive income foundation. Complementing the commercial component are two high-performing short-term rental apartments, creating additional upside and diversified revenue. The property is located within the City of Charleston's Accommodation Overlay Zone, further enhancing its long-term value and flexibility for short-term rental operations. Recognized as a Historic Charleston Foundation/Historic Caropolis award-winning building, the asset hasundergone a substantial upfit and restoration, thoughtfully preserving its historic character while incorporating modern, high-end finishes throughout. The income profile is driven by the stability of the long-term restaurant lease, allowing an investor to benefit from predictable, low-management cash flow, while the short-term rental units provide meaningful supplemental income and the ability to grow revenues through dynamic pricing and operational efficiencies. As outlined in the pro forma operating summary, the asset demonstrates strong gross income generation across both residential and commercial components, supported by a balanced expense structure. Strategically positioned on Spring Street--one of Charleston's most desirable and high-traffic corridors--the property benefits from exceptional walkability and immediate access to some of the city's top dining, retail, and entertainment destinations. The combination of premier location, award-winning historic significance, accommodation zoning advantages, and diversified yet restaurant-anchored income streams makes 114 Spring Street a compelling investment for buyers seeking both immediate returns and long-term appreciation in one of the Southeast's most resilient real estate markets. Read Less
Courtesy of Tift Properties
Listing Snapshot
Days Online
1
Last Updated
Property Type
Residential Income
Square Ft.
6,735
Lot Size
0.07 Acres
Year Built
1870
MLS Number
26011252
30 Days Snapshot Of 29403
$1.24M
+17%
(avg) sold price
22
-8%
homes sold
122
-8%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1870, 4 stories, Construction materials: "Masonite", "Wood Siding", Other structures: "No"
Cooling
"Central Air"
Heating
"Central", "Forced Air"
Laundry
"Washer Hookup"
Lot
0.07 acres, 3,049 square feet, Area: 0.07
Parking
"Other"
Roof
"Metal"
Security Features
"Fire Sprinkler System"
Sewer
"Public Sewer"
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