Ground-Floor Office
For Sale
$450,000
386 Spanish Wells Rd Unit B-3, Hilton Head Island, SC 29926
Two-level office unit with reception, conference, and storage areas, plus additional finished space upstairs.
Property Size2,175 SF
Price / SF$206.90
Days on Market9
Property Features for 386 Spanish Wells Rd Unit B-3
General Information
Standard status
Active
Size
2,175 SF
Class
B
Property subtype
Office
Additional Details
Floor
Ground Floor and 2nd Floor
Building Details
Building Size
2,175 SF
Year Built
1986
Stories
2
Listing Agency:
NAI Carolina Chapter
(843) 384-6550
Listed By:
Walter Wilkins
(843) 384-6550
Source:
Naiglobal
Added: Aug 14
Changed: Aug 21
Last Checked: Aug 21 at 4:48AM
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 office unit contains approximately 2,175 SF arranged across two finished levels. The ground floor provides approximately 1,500 SF of office area with a conference room, reception area, and storage. Additional finished space is located on the second floor, creating a practical configuration for administrative, meeting, and support functions.
The property is located at 386 Spanish Wells Rd, Unit B-3, Hilton Head Island, SC 29926. Constructed in 1986, the unit combines dedicated office areas with reception and storage components in a multi-level layout.
The property is located at 386 Spanish Wells Rd, Unit B-3, Hilton Head Island, SC 29926. Constructed in 1986, the unit combines dedicated office areas with reception and storage components in a multi-level layout.
Key Highlights
- Approximately 2,175 SF across two finished levels
- Approximately 1,500 SF of ground‑floor office space
- Ground‑floor conference room, reception area, and storage
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
$29,950
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
6.66%
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%
$599,000
$599.0K
Cap Rate 7%
$427,857
$427.9K
Cap Rate 9%
$332,778
$332.8K
Market Conditions
NOI Build-Up for 2,175 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
$47.0K $21.60/SF
− Vacancy
−$7.0K −$3.24/SF
EGI
$39.9K $18.36/SF
− OpEx
−$10.0K −$4.59/SF
NOI
$29.9K $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%
$599,000
Cap Rate 7%
$427,857
Cap Rate 9%
$332,778
Alternative Uses
Best Use
Office B
$427.9K
$374.4K – $499.2K
NOI $29,950 @ 7.0% cap · market cap 6.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$656.2K
$574.2K – $765.6K
NOI $45,936 @ 7.0% cap · market cap 10.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
95
Businesses Nearby
Explore this area
Business Placement
Demographics for 29926, SC
24,832
Population
12,642
Households
2
Avg Household Size
56
Median Age
52%
College-Educated
91%
High-School Grad
28.7 sq mi
ZIP Area
865
Density / Sq Mi
$101,573
Median Household Income
$44,019
Median Earnings
$1,448
Median Rent
$600,300
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 units - Two-level office unit with reception, conference, and storage areas, plus additional finished space upstairs.
Where is this office units located?
The property is located at 386 Spanish Wells Rd Unit B-3 Hilton Head Island, SC.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Approximately 2,175 SF across two finished levels; Approximately 1,500 SF of ground‑floor office space; Ground‑floor conference room, reception area, and storage
