Downtown Charleston parking spots on sale for $98,000 apiece

Downtown Charleston parking spots on sale for $98,000 apiece
Published: Feb. 25, 2015 at 8:41 PM EST|Updated: Feb. 25, 2015 at 10:47 PM EST
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CHARLESTON, SC (WCSC) - Folks who have trouble finding a parking spot in downtown Charleston can now buy one.

A local real estate company is selling parking spaces on East Bay Street for $98,000 apiece.

"You can't get a loan on a parking space, so you have to come up with the cash," Jennifer Davis of Domicile Real Estate Brokerage, says. "There's so little parking in Charleston and to have your own spot is terrific."

Davis says businesses, developers and individuals are buying them. The owner even gets his or her name plate that shows they own the spot.

Davis has an answer for critics who say the price is too steep: "I'd say how many times have you been around the block looking for a space?"

Davis says the buyers believe the parking space is a good investment in a great location.

"You own it for life, you pay taxes on it and you can leave it in your estate. You have it forever," she says.

Davis says initially there were about 50 parking spots for sale in the lot on East Bay Street, but now only seven are available.

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