A partially historic downtown structure that was home of the now-closed Art Institute of Charleston for more than a decade is up for sale.
The Carroll Building, which is steps away from the waterfront and City Market, sits within the city's accommodations overlay, meaning it's positioned for a potential hotel development.
The property at North Market and East Bay streets is listed for $22.25 million by its owner through the commercial real estate firm Avison Young.
The online listing released this week notes the building is in an area of the Historic District that allows hotels. It also notes the proximity to downtown attractions and the Charleston-area's 7 million-plus annual visitor count.
Materials also reference the site's location relative to the future International African American Museum, which will be built next to the Charleston Maritime Center, and a future waterfront hotel around the corner on Concord Street that's being planned by Los Angeles-based developer Lowe. The building also has on-site parking.
In recent years, the 53,600-square-foot Carroll property was the home of the Art Institute of Charleston, which opened in April 2007. Students were told in July that the for-profit school's downtown campus would be closing for good by the end of 2018.
Items left behind by the Art Institute — ranging from kitchen appliances to fashion mannequins to classroom tables and desks — are still up for sales through an auction online.
According to the real estate listing, the oldest part of the structure was built in the early 1900s by Thomas W. Carroll, who had established a fish business at the site. Office space was added in the mid-1980s, after the family business had closed.
A new restaurant, Hooked Seafood, opened earlier this year in the building's corner storefront. The spot was previously occupied by the Noisy Oyster.
The last time the property changed hands was in 1994, when it sold for $2.85 million. A representative for Avison Young did not respond to a request for comment this week.