1 Lafayette Pl - Bank FOR SALE


Hilton Head Island, SC 29926
$3,217,000 USD
704-560-3138
1 Lafayette Pl, Hilton Head Island, SC for Sale
$3,217,000 USD
Bank - FOR SALE
1/4
null | 5.75% Cap Rate

1 Lafayette Pl
Hilton Head Island, SC 29926


HIGHLIGHTS

  • RECENT LEASE EXTENSION PROVIDES 10-YEARS OF FIRM TERM
  • CORPORATE GUARANTEE FROM STRONG CREDIT TENANT
  • LONG OPERATING HISTORY
  • STRONG DEMOGRAPHICS AND MARKET FUNDAMENTALS

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 - 10 years of term remaining with rental increases - Retail and office synergies within Indigo Run - Subject is equipped with three covered drive-thru lanes LONG OPERATING HISTORY - Truist or its predecessor company has been operating at this location for over 25 years - Truist recently extended the firm lease term until 09/30/2029 demonstrating long-term commitment to the market and location PRIME LOCATION WITHIN INDIGO RUN PLANTATION - Indigo Run Plantation is 1,700-acre mixeduse 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

FOR SALE DETAILS

PRICE

$3,217,000 USD

PRICE/SF

$497 USD /SF

CAP RATE

5.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Truist Bank

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Bank

ADD'L SUBTYPES

Freestanding, Storefront

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1999

SPRINKLERS

-

PARKING SPACES

30

LAND DETAILS

LAND ACRES

1.1 AC

LAND SF

47,916 SF

ZONING

6615

APN/PARCEL ID

R510-008-000-0415-0000

ASK ABOUT THIS PROPERTY

Sam YoungAtlantic RetailMore Info
704-560-3138

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Sam YoungAtlantic RetailMore Info
704-560-3138

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.