Two-Story Office Building with
New
For Sale
$2,200,000
1044 William Hilton Pkwy, Hilton Head Island, SC 29928
Flexible layout with private offices, training areas, storage, and kitchenette or breakroom spaces.
Property Size10,017 SF
Price / SF$219.63
Days on Market3
Property Features for 1044 William Hilton Pkwy
General Information
Standard status
Active
Size
10,017 SF
Class
A
Elevators
Yes
Property subtype
Professional Office / Retail Building
Building Details
Building Size
10,017 SF
Buildings
1
Stories
2
Listing Agency:
NAI Carolina Chapter
(843) 247-2470
Listed By:
Baker Wilkins · License #31069
(843) 247-2470
Source:
Naiglobal
Added: Aug 13
Changed: Aug 14
Last Checked: Aug 14 at 4:54AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of NAI Carolina Chapter
Investment Insights
Based on property information with market context.
This ±10,017 SF professional office building provides a two-story configuration with multiple private offices, open work and training areas, storage rooms, kitchenette or breakroom areas, and separate men's and women's restrooms. An elevator serves both floors, supporting a range of office-based operations and accessibility needs. The property is positioned for professional office, medical office, corporate training, hospitality support, or regional headquarters use.
Located at Sea Pines Circle on the south end of Hilton Head Island, the building offers access to William Hilton Parkway, Pope Avenue, Palmetto Bay Road, Sea Pines, and Shipyard. Nearby retail, restaurant, banking, and service amenities add convenience for occupants and visitors.
Located at Sea Pines Circle on the south end of Hilton Head Island, the building offers access to William Hilton Parkway, Pope Avenue, Palmetto Bay Road, Sea Pines, and Shipyard. Nearby retail, restaurant, banking, and service amenities add convenience for occupants and visitors.
Key Highlights
- ±10,017 SF professional office building
- Two‑story layout with elevator access to both floors
- Multiple private offices plus open work and training areas
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$161,374
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.34%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,227,480
$3.2M
Cap Rate 7%
$2,305,343
$2.3M
Cap Rate 9%
$1,793,044
$1.8M
Market Conditions
NOI Build-Up for 10,017 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$300.5K $30.00/SF
− Vacancy
−$31.6K −$3.15/SF
EGI
$269.0K $26.85/SF
− OpEx
−$107.6K −$10.74/SF
NOI
$161.4K $16.11/SF
Area
Beaufort County, SC
Vacancy
10.50%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,227,480
Cap Rate 7%
$2,305,343
Cap Rate 9%
$1,793,044
Alternative Uses
Best Use
Healthcare Medical
$2.31M
$2.02M – $2.69M
NOI $161,374 @ 7.0% cap · market cap 7.34%
Second Best
Office B
$1.97M
$1.72M – $2.30M
NOI $137,934 @ 7.0% cap · market cap 6.27%
Theoretical Best
Office A
$3.02M
$2.64M – $3.53M
NOI $211,559 @ 7.0% cap · market cap 9.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
504
Businesses Nearby
Explore this area
Business Placement
Demographics for 29928, SC
15,538
Population
19,204
Households
0.8
Avg Household Size
63
Median Age
63%
College-Educated
98%
High-School Grad
20.7 sq mi
ZIP Area
751
Density / Sq Mi
$97,979
Median Household Income
$46,798
Median Earnings
$1,806
Median Rent
$776,600
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Flexible layout with private offices, training areas, storage, and kitchenette or breakroom spaces.
Where is this office building located?
The property is located at 1044 William Hilton Pkwy Hilton Head Island, SC.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: ±10,017 SF professional office building; Two‑story layout with elevator access to both floors; Multiple private offices plus open work and training areas
