Truist Bank
6,479 SF | Retail Building | Hilton Head Island, SC 29926 | $2,864,000 ($442/SF) | 7% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $2,864,000
- Property Type
-
Retail
- Square Feet
- 6,479 SF
- Price / Square Foot
- $442
Listing Contacts
Sam Young
Verified Profile
Ben Olmstead
Verified Profile
- Property Info
Property Overview
Corporate Guarantee from Strong Credit Tenant
- Truist Financial (NYSE: TFC) is the 7th largest bank in the United States
- Truist holds over $543B in assets | S&P Rating: A-
Attractive Investment Fundamentals
- No Landlord responsibilities
- Annual rental increases based on the CPI providing a strong hedge against inflation
- Retail and office synergies within Indigo Run
- Subject is equipped with three covered drive-thru lanes
Long Operating History
- No Landlord responsibilities
- Annual rental increases based on the CPI providing a strong hedge against inflation
- Retail and office synergies within Indigo Run
- Subject is equipped with three covered drive-thru lanes
Prime Location Within Indigo Run Plantation
- Indigo Run Plantation is 1,700-acre mixed use development featuring resort-style architecture and amenities that include office, retail, 2-championship golf courses, tennis and boating facilities. Subject is located at the corner of Indigo Run Dr and Lafayette Place, just off of William Hilton Pkwy (33,000 VPD). National tenants within Indigo Run include Harris Teeter, Publix, Walmart Supercenter, Barnes & Noble, PetSmart, & HomeGoods.
Strong Demographics and Market Fundamentals
- Over 33k people live within a 5-mile radius
- Average household income nearly 150K
- Major resort and vacation destination | Low office vacancy | Steadily rising rents
- Limited supply of commercial development due to restrictions
- Less than one mile from the Hilton Head Island Airport
High Growth MSA
- The Bluffton/Hilton Head MSA is one of the fastest growing areas in the state of South Carolina. Between 2010 and 2020, Bluffton experienced a 158% growth rate, with the population expected to nearly double in the next 30 years.
- Truist Financial (NYSE: TFC) is the 7th largest bank in the United States
- Truist holds over $543B in assets | S&P Rating: A-
Attractive Investment Fundamentals
- No Landlord responsibilities
- Annual rental increases based on the CPI providing a strong hedge against inflation
- Retail and office synergies within Indigo Run
- Subject is equipped with three covered drive-thru lanes
Long Operating History
- No Landlord responsibilities
- Annual rental increases based on the CPI providing a strong hedge against inflation
- Retail and office synergies within Indigo Run
- Subject is equipped with three covered drive-thru lanes
Prime Location Within Indigo Run Plantation
- Indigo Run Plantation is 1,700-acre mixed use development featuring resort-style architecture and amenities that include office, retail, 2-championship golf courses, tennis and boating facilities. Subject is located at the corner of Indigo Run Dr and Lafayette Place, just off of William Hilton Pkwy (33,000 VPD). National tenants within Indigo Run include Harris Teeter, Publix, Walmart Supercenter, Barnes & Noble, PetSmart, & HomeGoods.
Strong Demographics and Market Fundamentals
- Over 33k people live within a 5-mile radius
- Average household income nearly 150K
- Major resort and vacation destination | Low office vacancy | Steadily rising rents
- Limited supply of commercial development due to restrictions
- Less than one mile from the Hilton Head Island Airport
High Growth MSA
- The Bluffton/Hilton Head MSA is one of the fastest growing areas in the state of South Carolina. Between 2010 and 2020, Bluffton experienced a 158% growth rate, with the population expected to nearly double in the next 30 years.
Property Details
- Class
- B
- Year Built
- 1999
- Stories
- 2
- Property Subtype
- Bank
- Lot Size (sq. ft)
- 47,916 SF
Highlights
- Rare Annual CPI Increase
- Strong Corporate Guaranty
- Phenomenal Surrounding Demographics
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