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21 New Orleans Rd 4,419 SF Office Condo Unit Offered at $850,000 in Hilton Head Island, SC 29928
Investment Highlights
- Income Producing Office For Sale Hilton Head Island
- Annual Escalation
- Onsite Parking & Monument Signage
- NNN Lease
- Great South End Location
- Great Visibility
Executive Summary
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, new windows 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.
1 Unit Available
Unit C-D
| Unit Size | 4,419 SF | Sale Type | Investment |
| Price | $850,000 | Cap Rate | 7.54% |
| Price Per SF | $192.35 | NOI | $64,076 |
| Condo Use | Office | No. Parking Spaces | 25 |
| Unit Size | 4,419 SF |
| Price | $850,000 |
| Price Per SF | $192.35 |
| Condo Use | Office |
| Sale Type | Investment |
| Cap Rate | 7.54% |
| NOI | $64,076 |
| No. Parking Spaces | 25 |
Description
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, new windows and no POA/regime.
Sale Notes
Great small investment opportunity - 4,419 sf office condominium leased to credit tenant. Tenant has been at this location for five years and just renewed for another three. NNN Lease - 7.54% cap rate. Great south end location.
Property Facts
| Total Building Size | 4,419 SF | Typical Floor Size | 4,419 SF |
| Property Type | Office (Condo) | Year Built | 1984 |
| Building Class | C | Parking Ratio | 5.66/1,000 SF |
| Floors | 1 | ||
| Zoning | LC - LC | ||
| Total Building Size | 4,419 SF |
| Property Type | Office (Condo) |
| Building Class | C |
| Floors | 1 |
| Typical Floor Size | 4,419 SF |
| Year Built | 1984 |
| Parking Ratio | 5.66/1,000 SF |
| Zoning | LC - LC |
Amenities
- Bus Line
- Signage
Presented by
21 New Orleans Rd
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