35 Bill Fries DrHilton Head Island, SC 29926

Property Details for 35 Bill Fries Dr

Year built

1981

Lot size

1.00 AC

Property size (Sq ft)

3,176 SF

Zone code

6615

Property type

Healthcare properties

Property subtype

Medical offices

APN

R510 008 000 103C 0004

APU

R510008000103C0004

Description

This exceptional 3,100 square foot medical office condo, situated at 35 Bill Fries Dr, Hilton Head Island, SC 29926, presents a unique owner-user investment opportunity. Located in the Island Medical Plaza - Building C, this Class C property boasts a convenient location near Hilton Head Hospital. Originally built in 1984 and renovated in 2017, the building features two stories and comprises a single unit within a single building. The property is currently owner-occupied, with the owner relocating, making this a seamless transition for a new healthcare professional. The approximately 2,000 square feet of ground floor space offers ample room for operations. The zoning is designated as Professional, ensuring suitability for various medical practices. The asking price is $626,900, translating to $202.23 per square foot. The net rentable area is 3,100 square feet. While the current occupant is the owner, single-occupancy approval by the association is required, and the occupancy must be healthcare-related. Seller financing is a possibility. The property is offered for sale by owner and is held under an LLC. The anticipated occupancy date for a new owner is January 1, 2025. Please review the original floor plan (available in the provided documents) as modifications have been made to the layout. This is a well-maintained property representing a strong investment in a desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $658,111

  6.5%

  $607,487

  7%

  $564,095

• Comparable approach

  Method

  Valuation

  Relative Method

  $283,932

  Geo Method

  $216,000

• Alternative Use

  Use

  Valuation

  Residential

  $753,284

  Hospitality

  $690,004

  Educational

  $574,076

  Medical

  $593,819

  Retail

  $893,006

Location Insight

City

Hilton Head Island

County

Beaufort

State

South Carolina

Latitude

32.2254

Longitude

-80.7136

CBSA code

25940

CBSA name

HILTON HEAD ISLAND-BEAUFORT, SC MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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