This is an amazing builder's lot in one of the best spots in the Charleston, SC area. The lot is located at 73 Governors Dr, Kiawah Island, SC 29455. At an asking price of $179,000, you will not find a better priced lot on the island. It is in a golf course community with a number of community amenities and less than 1 miles to the beach.
I have comped the lot out using sold homes within the last 12 months that are neither directly on the golf course or any water (to reflect the subject lot's location).
Comps
81 Wax Myrtle Ct, Kiawah Island, SC: 1,777 sq ft, sold at $535,000 ($301 price/sq ft)
72 Governors Dr, Kiawah Island, SC: 3,177 sq ft, sold at $725,000 ($228 price/sq ft)
76 Governors Dr, Kiawah Island, SC: 2,222 sq ft, sold at $702,500 ($316 price/sq ft)
767 Curlew Ct, Kiawah Island, SC: 2,228 sq ft, sold at $980,000 ($440 price/sq ft)
181 Marsh Island Dr, Kiawah Island, SC: 1,600 sq ft, sold at $590,000 ($369 price/sq ft)
Comp Analysis
Average Square Feet: 2,201.00 SqFt
Average Sold Price/sqft: $331.00
Estimated New Construction Sale Price: $728,531.00
Building Cost ($150 price/sqft): $330,150.00
Deal Analysis
Sale Price: $728,531.00
Building Cost: $330,150.00
Lot Cost: $179,000
Soft Costs (10%): $72,853.10
Profit: $146,527.90 (20%)
I am open to negotiating the sell of the lot or partnering with a private money investor with an equity split.
