Sold Alerts provide potential sellers with hard-to-get comparable sale information.
- 5906 Charlotte Pike is a fully occupied, 4-tenant retail center that was built in 1985.
- The 6,512 SF center is home to VN Pho and Deli, Vape Zone and Smoke, Dina’s Salon and Prosperity Mental Wellness.
- The .36-acre parcel provides 24 parking spaces and 50’ of frontage.
- Known as The Olive Branch Building, the just-sold property sits adjacent to Richland Head Start Educational Center and across Charlotte Pike from Las Palmas Mexican restaurant.
- The seller once occupied the property with his business.
- The property last traded in 2003 for $380,000.
- The buyer put 55% down with financing from INSBank.
- On the market for 369 days.
- The property just sold for a 6% cap rate.
- The asking price was $1,750,000.
- The property just sold for $1,700,000…the equivalent of $261/SF.
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About Beau Beach, MBA CCIM
Beau is a battle-tested Commercial Real Estate Broker, entrepreneur, author and adoring father of four. His clients appreciate his no-nonsense demeanor and his legendary work ethic.
Beau leads Beachwood which is an elite commercial real estate brokerage for sellers in the Southeast.
He’s earned the revered “CCIM” designation which is awarded to the top 6% of all commercial real estate brokers.
He’s the author of the books The 3 Reasons: Why Most Commercial Properties Don’t Sell and True Wealth: What Every Seller Should Know About 1031 Exchanges.
Click to schedule a call with Beau or email to Beau@SoldbyBeachwood.com