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    Property profile & analytics

    24 Sheridan Park Cir Bluffton, SC 29910-6024

    • Retail space
    • 6,000 SF
    • 0.72 lot acres
    OFF-MARKET
    Last Sale
    Jan 08, 2025
    $1,350,000
    Value Estimations
    $1,330,000
    Show details
    Cap Rate Potential
    8.2%
    Retail space
    Location Intelligence
    Property ID
    US77-0688474
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • SiteOne Landscape Supply / Irrigation Equipment Supplier / Landscape Designer

    Property Details for 24 Sheridan Park Cir

    Year built
    1996
    Lot size
    0.72 lot acres
    Property size
    6,000 SF
    Zone code
    6616
    Property type
    Retail space
    APN
    R610 031 00D 0019 0000
    APU
    R61003100D00190000

    Description

    This 7,680 square foot warehouse in Bluffton, South Carolina, presents a compelling investment opportunity. Located at 24 Sheridan Park Circle, this property boasts a strong 5.5% cap rate based on a current NOI of $74,262.96. The building, constructed in 1996, includes approximately 6,000 square feet of warehouse space and an additional 1,680 square feet of fenced, improved outside storage. Currently leased to Site One Landscape Supply, Inc. (NYSE: SITE), a major player in the landscaping industry, the lease features three percent annual rent bumps and a five-year renewal option expiring in Q1 2028, with one additional five-year renewal option available. The property benefits from a historically strong location with significant barriers to entry, ensuring solid rent growth. The blended rate of $9.66/SF/YR (NNN) reflects the combined value of the front retail/warehouse and rear storage areas. Situated in a service industry pocket near Hilton Head Island, the property enjoys high visibility due to its proximity to I-278, which sees 55,400 vehicles per day. This is an ideal investment for those seeking a stable, high-return property with significant upside potential. The asking price is $1,350,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,150,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,580,000
      6.5%
      $1,460,000
      7%
      $1,355,000

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $1,000,000
      Current use
      RESTAURANT
      $2,155,000
      Change: +116% Conversion: Easy
      AUTO REPAIR, GARAGE
      $2,050,000
      Change: +105% Conversion: Difficult
      OFFICE BUILDING
      $1,765,000
      Change: +77% Conversion: Easy
      COMMERCIAL (GENERAL)
      $1,550,000
      Change: +55% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $960,000
      Change: -4% Conversion: Difficult
      WAREHOUSE, STORAGE
      $820,000
      Change: -18% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Bluffton
    County
    Beaufort
    State
    South Carolina
    Longitude
    -80.8594
    Latitude
    32.2629
    CBSA code
    25940
    CBSA name
    HILTON HEAD ISLAND-BEAUFORT, SC MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $10,794
    $0.00
    $0.00
    $36,190
    -
    $324,000
    $340,700
    $664,700

    Comparable in this City

    • Value Estimation
      $12,845,000
      125,348 SF

      1050 Fording Is Rd

      RETAIL STORES (PERSONAL SERVICES) • 125,348 SF
      1050 Fording Is Rd, Bluffton, SC 29910-6500
      View Details
    • Value Estimation
      $990,000
      10,000 SF

      29 Kitties Lndg Rd

      RETAIL STORES (PERSONAL SERVICES) • 10,000 SF
      29 Kitties Lndg Rd, Bluffton, SC 29910-5975
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    • Value Estimation
      $695,000
      7,007 SF

      1 Pennington Dr

      RETAIL STORES (PERSONAL SERVICES) • 7,007 SF
      1 Pennington Dr, Bluffton, SC 29910
      View Details
    • Value Estimation by Request
      1,500 SF

      9 Promenade St

      Individual retail properties • 1,500 SF
      9 Promenade St, Bluffton, SC 29910
      View Details
    • Value Estimation by Request
      24,881 SF

      509 Is Park

      Individual retail properties • 24,881 SF
      509 Is Park, Bluffton, SC 29910
      View Details
    • Value Estimation
      $880,000
      8,920 SF

      41 Goethe Rd

      RETAIL STORES (PERSONAL SERVICES) • 8,920 SF
      41 Goethe Rd, Bluffton, SC 29910-6001
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      11,360 SF

      New Bluffton Flex/Retail Buildings

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      Bluffton Commercial Space For Sale

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      Bluffton Flex Space For Sale

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      1504 Fording Island Rd, Bluffton, SC 29910
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      Bluffton Retail or Office Space

      Retail or office space in the heart of Bluffton.
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      View Details

    Similar Nearby for Lease

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      3,360 SF

      New Flex Space For Lease

      New construction flex space suitable for office, retail, or warehouse.
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    • $28 SF/Yr
      2,400 SF

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      Retail space for lease in Bluffton, SC shopping center.
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      Retail Space in Bluffton, SC

      Former Fresh Market location available for sublease or assignment.
      1131 Fording Island Rd, Bluffton, SC 29910
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      Retail Space in Bluffton

      Retail space available for lease in Bluffton, South Carolina.
      30 Plantation Park Dr, Bluffton, SC 29910
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      Retail Space in Bluffton Commons

      Retail space for sublease in a Publix-anchored shopping center.
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      Retail Space in Bluffton

      Retail space with high visibility and affluent neighborhood.
      91-137 Towne Dr, Bluffton, SC 29910
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    24 Sheridan Park Cir
    Bluffton, SC 29910-6024
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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