Highway Frontage Commercial
For Sale
$849,000
3 Regency Pkwy, Hilton Head Island, SC 29928
Stand-alone building on Highway 278, suitable for multiple commercial uses.
Property Size2,250 SF
Price / SF$377.33
Days on Market273
Property Features for 3 Regency Pkwy
General Information
Standard status
Active
Size
2,250 SF
Property subtype
Retail
Building Details
Building Size
2,250 SF
Year Built
1987
Listing Agency:
(843) 384-6550
Listed By:
Walter Wilkins
(843) 384-6550
Source:
Naiglobal
Added: Nov 22, 2025
Changed: Aug 8
Last Checked: Aug 21 at 5:42AM
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 Walter Wilkins
Investment Insights
Based on property information with market context.
This stand-alone building fronts Highway 278 on Hilton Head Island, offering a mid-island location across from Palmetto Dunes South Island Square and near Shelter Cove. It provides convenient access to all areas of Hilton Head Island. The property, previously a convenience store and gas station with underground pumps now removed, is zoned Light Commercial, accommodating various commercial applications. Situated mid-island, the building benefits from visibility on Highway 278 (William Hilton Parkway), adjacent to Bullie's BBQ and across from South Island Square, just south of Palmetto Dunes and Shelter Cove. The property size is 2250 square feet.
Key Highlights
- High‑visibility location directly fronting Highway 278 (William Hilton Parkway)
- Zoned Light Commercial, allowing for multiple commercial uses
- Stand‑alone building
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
$39,042
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
4.60%
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%
$780,840
$780.8K
Cap Rate 7%
$557,743
$557.7K
Cap Rate 9%
$433,800
$433.8K
Market Conditions
NOI Build-Up for 2,250 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
$54.0K $24.00/SF
− Vacancy
−$1.9K −$0.86/SF
EGI
$52.1K $23.14/SF
− OpEx
−$13.0K −$5.78/SF
NOI
$39.0K $17.35/SF
Area
Beaufort County, SC
Vacancy
3.60%
Lease Rate
$24.00 /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%
$780,840
Cap Rate 7%
$557,743
Cap Rate 9%
$433,800
Alternative Uses
Best Use
Specialty Retail
$557.7K
$488.0K – $650.7K
NOI $39,042 @ 7.0% cap · market cap 4.60%
Second Best
Retail
$507.6K
$444.2K – $592.2K
NOI $35,532 @ 7.0% cap · market cap 4.19%
Theoretical Best
Office A
$678.9K
$594.0K – $792.0K
NOI $47,520 @ 7.0% cap · market cap 5.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
423
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 Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Gas station - Stand-alone building on Highway 278, suitable for multiple commercial uses.
Where is this gas station located?
The property is located at 3 Regency Pkwy Hilton Head Island, SC.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: High‑visibility location directly fronting Highway 278 (William Hilton Parkway); Zoned Light Commercial, allowing for multiple commercial uses; Stand‑alone building
