For Sale
$3,775,000

18 Pope AveHilton Head Island, SC 29928

High-return Starbucks, prime location.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a brand-new, 2023-built Starbucks located at 18 Pope Ave, Hilton Head Island, SC 29928. Boasting 2,060 square feet on a 0.82-acre lot, this Class A retail property offers a compelling net lease investment with a corporate guarantee from Starbucks. The property features a dedicated drive-thru, crucial for maximizing revenue in this high-traffic area. With an average daily traffic count exceeding 32,000 vehicles on Pope Avenue, this location benefits from exceptional visibility and accessibility, situated between prominent resorts like Sea Pines and Wexford, and close to the renowned Harbor Town Golf Links. The 10-year lease, expiring May 31, 2033, includes four five-year options with a 10% rent increase at each option period, ensuring consistent and growing income. The property's strong financial performance is reflected in its 4.50% cap rate and a substantial net operating income (NOI) of $169,000. The asking price is $3,775,000, translating to a price per square foot of $1,832.52. The property includes 32 parking spaces and is zoned for commercial use. This single-tenant, 100% occupied building presents a secure and lucrative investment opportunity in a thriving South Carolina coastal market. The sale is structured as a sale for leaseback.

Property Details for 18 Pope Ave

Property type
Retail properties, Restaurants
Square Feet
2,060 SF
Class
A
Year Built
2023
Buildings
1
Stories
1
Lot Size (sq. ft)
35,719 SF

Location Insight

City
Hilton Head Island
County
Beaufort
State
South Carolina
Latitude
32.1515992
Longitude
-80.7601745
18 Pope Ave, Hilton Head Island, South Carolina

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18 Pope Ave
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