114 Spring Street, Charleston, SC 29403 (MLS# 26011252)


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114 Spring Street, Charleston, SC 29403

New Listing
$5,600,000
Property Type: MultiFamily Square Footage: 6,735 Lot Size (sq. ft.): 3,049 Status: Active
Current Price: $5,600,000 List Date: 4/20/2026 Last Modified: 4/20/2026

Description

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 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 has

Supplements: undergone 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.

More Information MLS# 26011252

Contract Info

Primary Structure List Price/SqFt: 831.48 MLS List Date: 2026-04-20 Status: Active List Price: $5,600,000 Current Price: $5,600,000

Location, Tax & Legal

Legal Description: 223 Rutledge & Spring Tax Map #: 4601102010 Street #: 114 Street Name: Spring Street Suffix: Street County: Charleston State: SC Zip Code: 29403 Area: 51 - Peninsula Charleston Inside of Crosstown Tax District: 71 - City of Charleston Subdivision: Cannonborough-Elliotborough Elementary School: Mitchell Middle School: Simmons Pinckney High School: Burke

General Property Info

# Stories: 4 Potential Short Sale: No Other Structures Y/N: No Number of Units: 4 Primary Structure Apx SqFt: 6735 Year Built: 1870 Acreage: 0.07

Income, Expenses & Fees

Gross Income: 365440

SqFt Source

Hired Measurement: 1

Roof

Metal: 1

Exterior

Masonite: 1 Wood Siding: 1

Garage/Parking

Other (Use Remarks): 1

Architectural Style

Other: 1

New Owned/Pre-owned

Pre-Owned: 1

Equipment/Appliances

Disposal: 1 Electric Double Oven: 1 Electric Range: 1 Fire Sprinkler: 1 Microwave: 1 Range Hood: 1 Refrigerator: 1 Stacked Washer/Dryer: 1 Washer: 1 Washer Hookup: 1

Cooling

Central Air: 1 Heat Pump: 1

Heat

Central: 1 Forced Air: 1

Sale Includes

Some Furniture: 1

Proposed Financing

Cash: 1 Conventional Loan: 1 Exchange: 1

Possession

Negotiable: 1 Tenants Rights: 1

Water/Sewer

Public Sewer: 1 Public Water: 1

Income Expenses Fees

Annual Expenses: 83000 Net Income: 282400

Property Features

SqFt Source: Hired Measurement Roof: Metal Exterior: Masonite; Wood Siding Architectural Style: Other Cooling: Central Air; Heat Pump Heat: Central; Forced Air Sale Includes: Some Furniture Proposed Financing: Cash; Conventional Loan; Exchange Possession: Negotiable; Tenants Rights
Listing Office: Tift Properties
IDX
Last Updated: April - 20 - 2026
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