59-Unit Apartment
For Sale
$4,800,000
800 Fording Island Road, Bluffton, SC 29910
Commercial, Bluffton, SC
Property Size39,279 SF
Price / SF$122.20
Days on Market101
Property Features for 800 Fording Island Road
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
Bluffton/General
Standard status
Active
Size
39,279 SF
Listing Agency:
Realty One Group - Lowcountry (597)
(843) 290-0911
Listed By:
Emily Tholen · License #128343
(843) 505-1600
Added: May 14
Changed: Aug 19
Last Checked: Aug 22 at 3:06PM
MLS# 448902
Copyright © 2026 REsides, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This apartment building contains 59 residential units within 39,279 square feet of property. The asset is classified as an apartment building and multifamily property, providing an established residential configuration for ownership or repositioning considerations.
The property is located at 800 Fording Island Road in Bluffton, South Carolina, within Beaufort County. The 59-unit scale and existing apartment layout define the property’s primary commercial characteristics.
The property is located at 800 Fording Island Road in Bluffton, South Carolina, within Beaufort County. The 59-unit scale and existing apartment layout define the property’s primary commercial characteristics.
Key Highlights
- 59 residential apartment units
- 39,279 square feet of property
- Located at 800 Fording Island Road, Bluffton, SC 29910
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
$418,675
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
8.72%
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%
$8,373,500
$8.4M
Cap Rate 7%
$5,981,071
$6.0M
Cap Rate 9%
$4,651,944
$4.7M
Market Conditions
NOI Build-Up for 39,279 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
$801.3K $20.40/SF
− Vacancy
−$40.1K −$1.02/SF
EGI
$761.2K $19.38/SF
− OpEx
−$342.6K −$8.72/SF
NOI
$418.7K $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%
$8,373,500
Cap Rate 7%
$5,981,071
Cap Rate 9%
$4,651,944
Alternative Uses
Best Use
Apartment 5plus
$5.98M
$5.23M – $6.98M
NOI $418,675 @ 7.0% cap · market cap 8.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$11.85M
$10.37M – $13.83M
NOI $829,572 @ 7.0% cap · market cap 17.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
59
Residential units
Location Intelligence
Trade Area within ½ mile
1,062
Businesses Nearby
Explore this area
Business Placement
Demographics for 29910, SC
49,140
Population
21,169
Households
2.3
Avg Household Size
41
Median Age
46%
College-Educated
95%
High-School Grad
104.4 sq mi
ZIP Area
471
Density / Sq Mi
$96,122
Median Household Income
$41,829
Median Earnings
$1,848
Median Rent
$420,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Existing multifamily property in Bluffton, South Carolina, offering a substantial residential unit base.
Where is this apartment building located?
The property is located at 800 Fording Island Road Bluffton, SC.
What is the asking price?
The asking price for this property is $4,800,000.
What are key features of this property?
This property features: 59 residential apartment units; 39,279 square feet of property; Located at 800 Fording Island Road, Bluffton, SC 29910
