Vacant Senior Housing
For Sale
$6,000,000
1119 Pick Pocket Plantation Drive, Beaufort, SC 29902
Community amenities include dining, library, activity, and television areas.
Property Size48,288 SF
Days on Market30
Property Features for 1119 Pick Pocket Plantation Drive
General Information
Standard status
Active
Size
48,288 SF
Property subtype
Schools/Education
Amenities
community living room and activity areas
family dining and library
large-screen TV room
dedicated activities room
professional kitchen
Building Details
Building Size
48,288 SF
Year Built
1999
Listing Agency:
Bull Realty
(404) 876-1640
Listed By:
Ernie Anaya, MBA · License ##93244
(404) 876-1640
Source:
Thebrokerlist
Added: Aug 1
Changed: Aug 30
Last Checked: Aug 30 at 5:54AM
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 Bull Realty
Investment Insights
Based on property information with market context.
Built in 1999, this vacant senior housing facility includes shared spaces designed for resident and family use. The interior program features a community living room, activity areas, family dining, a library, a large-screen television room, a dedicated activities room, and a professional kitchen.
Located at 1119 Pick Pocket Plantation Drive in Beaufort, South Carolina, the property may support conversion to an independent living facility under existing zoning. A behavioral health conversion may also be possible with a Special Use Permit. The asset is positioned within a senior housing and healthcare-oriented market serving Beaufort County and the surrounding Lowcountry region.
Located at 1119 Pick Pocket Plantation Drive in Beaufort, South Carolina, the property may support conversion to an independent living facility under existing zoning. A behavioral health conversion may also be possible with a Special Use Permit. The asset is positioned within a senior housing and healthcare-oriented market serving Beaufort County and the surrounding Lowcountry region.
Key Highlights
- Vacant senior housing facility at 1119 Pick Pocket Plantation Drive, Beaufort, SC 29902
- 1999 construction date
- Community living room and multiple activity 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
$514,702
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
8.58%
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%
$10,294,040
$10.3M
Cap Rate 7%
$7,352,886
$7.4M
Cap Rate 9%
$5,718,911
$5.7M
Market Conditions
NOI Build-Up for 48,288 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
$985.1K $20.40/SF
− Vacancy
−$49.3K −$1.02/SF
EGI
$935.8K $19.38/SF
− OpEx
−$421.1K −$8.72/SF
NOI
$514.7K $10.66/SF
Area
Beaufort County, SC
Vacancy
5.00%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
45.00%
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%
$10,294,040
Cap Rate 7%
$7,352,886
Cap Rate 9%
$5,718,911
Alternative Uses
Best Use
Apartment 5plus
$7.35M
$6.43M – $8.58M
NOI $514,702 @ 7.0% cap · market cap 8.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$14.57M
$12.75M – $17.00M
NOI $1,019,843 @ 7.0% cap · market cap 17.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
480
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 29902, SC
16,692
Population
7,131
Households
2.3
Avg Household Size
36
Median Age
38%
College-Educated
96%
High-School Grad
18.1 sq mi
ZIP Area
922
Density / Sq Mi
$72,564
Median Household Income
$36,468
Median Earnings
$1,157
Median Rent
$306,000
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Senior housing / Retirement Home - Community amenities include dining, library, activity, and television areas.
Where is this senior housing / retirement home located?
The property is located at 1119 Pick Pocket Plantation Drive Beaufort, SC.
What is the asking price?
The asking price for this property is $6,000,000.
What are key features of this property?
This property features: Vacant senior housing facility at 1119 Pick Pocket Plantation Drive, Beaufort, SC 29902; 1999 construction date; Community living room and multiple activity areas
