List Search

21 New Orleans Rd
Hilton Head Island, SC 29928

$850,000 USD

Office Condo For Sale  •  4,419 SF

Property Details

  • Property Type Office
  • Total Building Size 4,419 SF
  • Building Class C
  • Year Built 1984
  • Cap Rate 7.54 %
  • Tenancy Multiple
  • Zoning LC
40 Walk Score

1 Unit Available

Name Condo Use Size Price Details
1st Floor - Unit C-D Office 4,419 SF $850,000 USD
  • Unit Size: 4,419 SF
  • Condo Use: Office
  • Price: $850,000 USD
  • Sale Type: Investment
  • Price/SF: $192.35 USD
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.

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. 

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.

Highlights

Income Producing Office For Sale Hilton Head Island
NNN Lease
Annual Escalation
Great South End Location
Onsite Parking & Monument Signage
Great Visibility

Property Flyers

Cap Rate: 7.54 %

Major Tenants

Tenant SF Occupied Lease End Date
Drs. Pauls & Savarese
Premium Properties Of Hilton Head LLC
Sunset Rentals

Amenities

  • Bus Line
  • Signage

Public Transportation

AirportDriveWalkDistance
Hilton Head 12 min - 6.7 mi
Savannah/Hilton Head International 67 min - 47.8 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 25
Type: Surface
Included in Rent: Yes
Vonnie Majewski 843-338-1799 VM | Real Estate
Vonnie Majewski 843-338-1799 VM | Real Estate