1294 Ribaut Rd Beaufort, SC 29902-6143

Property Details for 1294 Ribaut Rd

Year built

1997

Lot size

1.76 lot acres

Property size

11,440 SF

Zone code

6611

Property type

Retail space

APN

R120 007 000 0677 0000

APU

R12000700006770000

Description

This exceptional investment opportunity presents a single-tenant, net-leased Walgreens pharmacy located at 1294 Ribaut Rd, Beaufort, SC 29902. The 11,371 square foot building, constructed in 1997, sits on a 1.76-acre lot and boasts a drive-thru pharmacy, significantly enhancing convenience and customer traffic. The property enjoys a prime location along Ribaut Road, a major thoroughfare with a daily traffic volume of 23,500 vehicles. This high-visibility location is complemented by strong neighboring tenants including Piggly Wiggly, ACE Hardware, Hardee's, Fresenius, and Burger King, further solidifying the area's commercial vibrancy. The property benefits from a dense population base, with 46,133 residents within a five-mile radius, exhibiting an average annual household income of $96,716. Limited competition, with the nearest CVS over three miles away, ensures a strong market position. The current lease, originally commenced on May 1, 1997, and assumed by Walgreens in 2018, has a remaining term of 2.5 years, followed by five 5-year renewal options, each with a 5% rent increase. The property offers a compelling 8.00% cap rate and a strong NOI of $108,999, making it an attractive investment with significant long-term potential. The Walgreens tenant is credit-rated, providing further security and stability. This is a rare opportunity to acquire a well-positioned, high-performing retail property in a thriving market within the Savannah MSA. The asking price is $1,362,499, translating to $119.82 per square foot. The property's proximity to the Naval Hospital further enhances its appeal and potential for sustained growth.

Location Insight

City

Beaufort

County

Beaufort

State

South Carolina

Longitude

-80.6858

Latitude

32.401

CBSA code

25940

CBSA name

HILTON HEAD ISLAND-BEAUFORT, SC MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments