Leased Investment Property with Marsh
For Sale
Contact for pricing
Pending
2201 Boundary St, Beaufort, SC 29902
Subdivided office suites fully leased with marsh views.
Property Size1,196 SF
Days on Market174
Property Features for 2201 Boundary St
General Information
Standard status
Pending
Size
1,196 SF
Class
C
Total Parking Spaces
25
Property subtype
Office, Retail
Zoning
T5-DC (Downtown Core)
Occupancy
100%
Lease Type
Gross
Investment Type
Net Lease
Building Details
Year Built
1984
Year Renovated
2025
Buildings
1
Stories
3
Units
5
Tenancy
Multi
Listing Agency:
Principal Advisors
Listed By:
Gerald LaHay, CCIM · License #141553
Source:
Crexi
Added: Mar 10
Changed: Aug 8
Last Checked: Aug 8 at 6:36AM
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 Principal Advisors
Investment Insights
Based on property information with market context.
This 1,196+-sf investment property, Marsh Suites @ Carolina Cove, has been subdivided into 5 rental units. The property has been fully leased since 01/01/2025. Rear-facing units offer marsh views. The Net Operating Income (NOI) is $30,711, representing a 10.97% Cap Rate.
Key Highlights
- Fully leased investment property generating income since 01/01/2025.
- High Cap Rate of 10.97%.
- Net Operating Income (NOI) of $30,711.
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
$16,469
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
5.88%
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%
$329,380
$329.4K
Cap Rate 7%
$235,271
$235.3K
Cap Rate 9%
$182,989
$183.0K
Market Conditions
NOI Build-Up for 1,196 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
$25.8K $21.60/SF
− Vacancy
−$3.9K −$3.24/SF
EGI
$22.0K $18.36/SF
− OpEx
−$5.5K −$4.59/SF
NOI
$16.5K $13.77/SF
Area
Beaufort County, SC
Vacancy
15.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
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%
$329,380
Cap Rate 7%
$235,271
Cap Rate 9%
$182,989
Alternative Uses
Best Use
Office B
$235.3K
$205.9K – $274.5K
NOI $16,469 @ 7.0% cap · market cap 5.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$360.9K
$315.8K – $421.0K
NOI $25,260 @ 7.0% cap · market cap 9.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
514
Businesses Nearby
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Subdivided office suites fully leased with marsh views.
Where is this office units located?
The property is located at 2201 Boundary St Beaufort, SC.
What is the asking price?
The asking price for this property is $280,000.
What are key features of this property?
This property features: Fully leased investment property generating income since 01/01/2025.; High Cap Rate of 10.97%.; Net Operating Income (NOI) of $30,711.
