21 New Orleans Rd 4,419 SF 100% Leased Office Building Hilton Head Island, SC 29928 $850,000 ($192.35/SF) 7.54% Cap Rate

Income producing,4,419 sf office condominium available for sale on the south end of Hilton Head. The condo represents the prominent / street side of the building and has been leased to a strong credit, vacation rental company, for the last five years. Tenant has just renewed the lease for three more years through December, 2028. The lease is NNN with 3% annual escalation and a NOI of $64,076. The property is being offered at a 7.54% cap rate. Functional layout that could be split into two fully functional spaces if desired in the future. Ideal for investor looking for an easy to manage income producing property in a great location. Onsite parking and monument signage, brand new HVAC and no POA/regime.
Located on New Orleans Rd., on the bustling south end of Hilton Head Island. New Orleans Rd. is a major artery that intersects with Highway 278 / William Hilton Parkway in two locations, and Pope Avenue. The property is near the busy Sea Pines circle and in close proximity to the Cross Island Connector and USCB Hilton Head campus. Surrounded by restaurants, retail and residential developments, including Shipyard, Sea Pines, Long Cove and Wexford Plantation. Great exposure to high vehicle and bike path traffic.