Two-Story Office
For Sale
$999,000
578 William Hilton Parkway Unit 2, Hilton Head Island, SC 29928
Commercial building with central air, parking, and potential for professional or retail occupancy.
Property Size2,322 SF
Price / SF$430.23
Days on Market170
Property Features for 578 William Hilton Parkway Unit 2
General Information
Standard status
Active
Size
2,322 SF
Property subtype
Office
Additional Details
Highway Access
Yes
Amenities
Central Air
3
Commercial
Parking.
Lot.
Building Details
Year Built
2003
Buildings
1
Stories
2
Building Size
2,322 SF
Tenancy
Single
Owner Occupied
No
Listing Agency:
(843) 422-6428
Listed By:
Howard Hanna Allen Tate Lowcou
(843) 422-6428
Source:
Xome
Added: Mar 16
Changed: Aug 30
Last Checked: Aug 31 at 1:48PM
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 Howard Hanna Allen Tate Lowcou
Investment Insights
Based on property information with market context.
This two-story office property contains 2322 total square feet and was built in 2003. Central air, parking, and lot area are included. The building is currently configured for office use by a rental company planning to relocate to a smaller space at the end of the summer, providing a transition point for a future occupant.
Located at 578 William Hilton Parkway Unit 2 on Highway 278, the property is across from Aventure Cove and Nala's Beach Restaurant. The adjoining building is occupied by Darling Eye Center. Existing office configuration and the stated potential for professional or retail uses provide flexibility for the next user.
Located at 578 William Hilton Parkway Unit 2 on Highway 278, the property is across from Aventure Cove and Nala's Beach Restaurant. The adjoining building is occupied by Darling Eye Center. Existing office configuration and the stated potential for professional or retail uses provide flexibility for the next user.
Key Highlights
- 2322 total square feet across a two‑story office building
- Built in 2003
- Central air conditioning
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
$31,974
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
3.20%
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%
$639,480
$639.5K
Cap Rate 7%
$456,771
$456.8K
Cap Rate 9%
$355,267
$355.3K
Market Conditions
NOI Build-Up for 2,322 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
$50.2K $21.60/SF
− Vacancy
−$7.5K −$3.24/SF
EGI
$42.6K $18.36/SF
− OpEx
−$10.7K −$4.59/SF
NOI
$32.0K $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%
$639,480
Cap Rate 7%
$456,771
Cap Rate 9%
$355,267
Alternative Uses
Best Use
Office B
$456.8K
$399.7K – $532.9K
NOI $31,974 @ 7.0% cap · market cap 3.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$700.6K
$613.0K – $817.4K
NOI $49,041 @ 7.0% cap · market cap 4.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
314
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 - Commercial building with central air, parking, and potential for professional or retail occupancy.
Where is this office building located?
The property is located at 578 William Hilton Parkway Unit 2 Hilton Head Island, SC.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: 2322 total square feet across a two‑story office building; Built in 2003; Central air conditioning
