140 Spring St - Hospitality FOR SALE


Charleston, SC 29403- Cannonborough-Elliottborough
$3,100,000 USD
843-408-0858
140 Spring St, Charleston, SC for Sale
$3,100,000 USD
Hospitality - FOR SALE
1/40
null | 9.68% Cap Rate


HIGHLIGHTS

  • Located on the Charleston Peninsula - Walking Distance to King Street & Restaurants and Nightclubs (near MUSC as well)
  • Beautiful Courtyard Patio - Room to Add a Pool
  • Historic Charleston Architecture & Design

OVERVIEW

An exceptional opportunity to acquire a fully renovated, fully licensed commercial short-term rental complex in the heart of downtown Charleston. 140 Spring Street is a boutique, three-unit offering designed to command premium nightly rates while delivering a rare combination of privacy, parking, and outdoor living—features that consistently outperform in Charleston’s high-barrier STR market. The property features two spacious 3-bedroom / 2-bath residences and one well-appointed 1-bedroom unit, creating multiple income streams ideal for group travel, extended stays, and high-yield weekend demand. Renovations were thoughtfully executed to preserve historic charm while delivering modern finishes that today’s guests expect. A true differentiator is the private, walled courtyard exclusive to one of the 3-bedroom units. Complete with a gazebo, brick fireplace, and dedicated sitting area, this outdoor sanctuary significantly enhances guest experience and booking appeal. The courtyard also offers potential for a plunge pool—an extraordinary rarity in downtown Charleston and a proven lever for materially increasing ADRs and annual revenue. Off-street parking further strengthens the asset’s competitive position, while in-place commercial STR licensing allows for immediate operation with no entitlement risk. Beyond operational performance, ownership offers significant tax advantages unique to short-term rentals, including the potential for accelerated depreciation and cost segregation, which may allow investors to offset a substantial portion of income—often without passive activity limitations, subject to individual circumstances and tax strategy. This is a rare opportunity to acquire a stabilized, scalable, and tax-advantaged STR asset in one of the Southeast’s most supply-constrained and resilient markets. $300,000.00/ in annual revenue from a reputable local management company. Contact the listing agent for additional financial details, licensing information, and to schedule a private showing. Investment highlights FULLY LICENSED SHORT TERM RENTAL COMPLEX RENOVATED UNITS WITH LOW COST VALUE ADD OPPORTUNITIES DEDICATED COURTYARD WITH ROOM FOR A POOL OFF STREET PARKING

FOR SALE DETAILS

PRICE

$3,100,000 USD

PRICE/SF

$921 USD /SF

# OF ROOMS

3

PRICE/ROOM

$1,033,333 {currency}

CAP RATE

9.68%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

140 Spring Street - STR Peninsular Charleston

PROPERTY TYPE

Hospitality

ADD'L SUBTYPES

Hotel, undefined, undefined

TOTAL BUILDING SIZE

-

STORIES

2

ROOM ENTRANCE

Interior

BUILDING CLASS

B

YEAR BUILT

1890

PARKING SPACES

1

LAND DETAILS

LAND ACRES

0.09 AC

LAND SF

3,801 SF

ZONING

Limited Business

APN/PARCEL ID

460-11-02-055

ASK ABOUT THIS PROPERTY

Jesse LongBirchin Lane Realty Advisors, LLCMore Info
843-408-0858

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Jesse LongBirchin Lane Realty Advisors, LLCMore Info
843-408-0858

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.