870 William Hilton PkwyHilton Head Island, SC 29928

Property Details for 870 William Hilton Pkwy

Year built

1996

Lot size

5.21 AC

Property size (Sq ft)

31,172 SF

Zone code

6615

Property type

Office buildings

APN

R550 011 000 138B 0000

APU

R550011000138B0000

Description

This 32,128 square foot, two-story office building in Hilton Head Island, SC, presents a compelling value-add investment opportunity. Located on a 5.21-acre lot along the highly trafficked William Hilton Parkway (Route 278), this vacant property benefits from a low 4% local office vacancy rate, significantly below the national average. Built in 1996, the building is zoned for Light Commercial use and offers substantial potential for lease-up and expansion. The property's prime location within a thriving tourism destination, attracting over 2.5 million visitors annually, ensures strong long-term market demand. The existing building provides immediate income potential, while the ample land allows for future development, creating significant upside for the investor. This is a rare chance to acquire a well-situated asset in a high-demand market with considerable room for growth and value creation. The property's strategic location on a major thoroughfare, combined with the current market dynamics, makes this a highly attractive investment prospect. The opportunity to both stabilize the existing building and expand on the available land offers a unique blend of immediate and long-term return potential.

• CAP approach

  CAP return

  Valuation

  6%

  $6,459,272

  6.5%

  $5,962,404

  7%

  $5,536,518

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,786,758

  Geo Method

  $2,120,008

• Alternative Use

  Use

  Valuation

  Residential

  $7,393,382

  Hospitality

  $6,772,298

  Educational

  $5,634,472

  Medical

  $5,828,250

  Retail

  $8,764,735

Location Insight

City

Hilton Head Island

County

Beaufort

State

South Carolina

Latitude

32.172

Longitude

-80.7376

CBSA code

25940

CBSA name

HILTON HEAD ISLAND-BEAUFORT, SC MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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