net leased investment opportunity near hilton head … · bluffton/hilton head just minutes from...

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For investment information: J. Tyson Glasser, CCIM • Investment Sales Director [email protected]864.263.5427 o • 404.435.6312 c 1.615 Acres · 6,200 Square Feet NET LEASED INVESTMENT OPPORTUNITY NEAR HILTON HEAD ISLAND 19 & 21 Towne Drive, Bluffton, SC 29910 $2,499,500 · 6.50% Cap Rate AERIAL VIDEO

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Page 1: NET LEASED INVESTMENT OPPORTUNITY NEAR HILTON HEAD … · Bluffton/Hilton Head Just minutes from Hilton Head Island, right on the banks of the May River, sits the quaint town of Bluffton,

For investment information:

J. Tyson Glasser, CCIM • Investment Sales Director

[email protected] • 864.263.5427 o • 404.435.6312 c

1.615 Acres · 6,200 Square Feet

NET LEASED INVESTMENT OPPORTUNITY NEAR HILTON HEAD ISLAND19 & 21 Towne Drive, Bluffton, SC 29910

$2,499,500 · 6.50% Cap Rate

AERIAL

VIDEO

Page 2: NET LEASED INVESTMENT OPPORTUNITY NEAR HILTON HEAD … · Bluffton/Hilton Head Just minutes from Hilton Head Island, right on the banks of the May River, sits the quaint town of Bluffton,

TABLE OF CONTENTS

Property Cover

Table of Contents

Investment Highlights

Property Photos

Investment Summary

Rent Roll & Cash Flow

Location Map & Aerial

As-Built Survey

Tenant Profile

Market Profile Contact Information

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Page 3: NET LEASED INVESTMENT OPPORTUNITY NEAR HILTON HEAD … · Bluffton/Hilton Head Just minutes from Hilton Head Island, right on the banks of the May River, sits the quaint town of Bluffton,

INVESTMENT HIGHLIGHTS

• Rare and desirable Hilton Head Island area real estate

• Stable, creditworthy and complimentary tenant mix

• First class construction and high quality landscaping

• Outparcel to Belfair Towne Center, a popular and well occupied Kroger and Stein Mart anchored center

• Minimal landlord obligations with tenants responsible for most expenses

• Accessible with a newly constructed right-in/right-out on US Hwy 278

• Traffic counts of +/- 60,000 cars per day on US Hwy 278

• Average income over $92,000 in a 5 mile radius (2.3% projected annual growth)

• Population over 97,000 in a 10 mile radius (21% growth since 2010)

Page 4: NET LEASED INVESTMENT OPPORTUNITY NEAR HILTON HEAD … · Bluffton/Hilton Head Just minutes from Hilton Head Island, right on the banks of the May River, sits the quaint town of Bluffton,

PROPERTY PHOTO

Page 5: NET LEASED INVESTMENT OPPORTUNITY NEAR HILTON HEAD … · Bluffton/Hilton Head Just minutes from Hilton Head Island, right on the banks of the May River, sits the quaint town of Bluffton,

PROPERTY PHOTO

Page 6: NET LEASED INVESTMENT OPPORTUNITY NEAR HILTON HEAD … · Bluffton/Hilton Head Just minutes from Hilton Head Island, right on the banks of the May River, sits the quaint town of Bluffton,

INVESTMENT SUMMARY

Purchase Price: $2,499,500

Cap Rate: 6.50%

Net Income: $162,463.95 (Feb 2018 to Jan 2019)

Land Size: 1.615 Acres and 70,350 Square Feet

Building Sizes: Dental Home – 3,000 Square Feet

Lang Capital – 3,200 Square Feet

Building Ages: 2008 Construction

Frontage: +/- 150 feet on US Hwy 278

Access: Right in/right out on US Hwy 278 and

through Belfair Towne Village

Parking: 63 total spaces with 4 handicap spaces

Zoning: PUD

Traffic Counts: +/- 60,000 AADT on US Hwy 278

Current Lease Term: 15 Years

Lease Commencement: November 1, 2015

Lease Expiration: October 31, 2030

Renewal Options: 2 – 5 Years Each

Annual Base Rent: $120,000.00 Years 1-5

$132,000.00 Years 6-10

$145,200.00 Years 11-15

Rental Increases: 10% Every 5 Years

Tenant/Guarantor: Dental Home EB5 Investment V, LLC

Right of First Refusal: None

Lease Type: Triple Net

3 Mile 5 Mile 10 Mile 25,274 41,682 97,380

9,042 15,333 39,950

$83,759 $92,355 $94,690

$62,072 $68,185 $67,267

Demographic Details

POPULATION

HOUSEHOLDS

AVERAGE HH INCOME

MEDIAN HH INCOME

Offering Details Lease Details - Dental Home

Lease Details – Lang Capital

Current Lease Term: 3 Years (8/1/17 to 7/31/20)

Lease Commencement: July 7, 2014

Lease Expiration: July 31, 2020

Renewal Options: 1 – 3 Years

Annual Base Rent: $52,736.00 Year 1

$54,318.08 Year 2

$55,947.62 Year 3

Rental Increases: 3% Annually

Tenant/Guarantor: Lang Capital, LLC

Right of First Refusal: None

Lease Type: Double Net

Page 7: NET LEASED INVESTMENT OPPORTUNITY NEAR HILTON HEAD … · Bluffton/Hilton Head Just minutes from Hilton Head Island, right on the banks of the May River, sits the quaint town of Bluffton,

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Tenant SF % of Total Current Term Start Date End Date Rate PSF Annual Base Rent Rent Bumps Options CAM/Tax/Ins Admin Fee CAM/Tax/Ins PSF CAM PSF Admin. FeeNational Dental Systems, LLC

3,000 48.4% 15 Years 11/1/2015 10/31/2030 $40.00 $120,000.00 10% Every 5 Years

2 @ 5 Years $12,690.00 $139.50 $4.23 $0.31 15%

Lang Capital, LLC

3,200 51.6% 3 Years 7/7/14 7/31/20 $16.48 $52,736.00 3% Annually 1 @ 3 Years $13,536.00 $0.00 $4.23 $0.31 0%

Totals 6,200 100% $172,736.00 $26,226.00 $139.50

2018-2019

Base Rental Income $173,527.04

Expense Reimbursement $26,226.00

Admin. Reimbursement $139.50

Total Income $199,892.54

Vacancy (3% of Total Income) $5,996.78

Effective Income $193,895.76

CAM/Tax/Insurance $26,226.00

Management (3% of Base Rents) $5,205.81

Total Expenses $31,431.81

Net Income $162,463.95

RENT ROLL & CASH FLOW

Page 8: NET LEASED INVESTMENT OPPORTUNITY NEAR HILTON HEAD … · Bluffton/Hilton Head Just minutes from Hilton Head Island, right on the banks of the May River, sits the quaint town of Bluffton,

LOCATION MAP & AERIAL

Page 9: NET LEASED INVESTMENT OPPORTUNITY NEAR HILTON HEAD … · Bluffton/Hilton Head Just minutes from Hilton Head Island, right on the banks of the May River, sits the quaint town of Bluffton,

AS-BUILT SURVEY

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Page 10: NET LEASED INVESTMENT OPPORTUNITY NEAR HILTON HEAD … · Bluffton/Hilton Head Just minutes from Hilton Head Island, right on the banks of the May River, sits the quaint town of Bluffton,

Dental Home is committed to providing superior oral health services to their patients with 14 locations throughout Georgia and South Carolina. They foster patient relationships based on mutual trust, excellent customer service and the best personalized patient care available. Their team is devoted to restoring, enhancing and maintaining your teeth using conservative, state-of-the-art dental procedures. For more information and client testimonials, visit www.dentalhomeus.com.

Lang Capital is a private wealth manager serving the Carolinas with offices in Charlotte, North Carolina and Hilton Head, South Carolina. Founder, Pete Lang, is an Investment Advisor who serves as a Fiduciary to Lang Capital’s clients. Pete is a retired tax attorney and CPA with specialized expertise in financial and retirement planning, including: investment advisory services, income planning, advanced tax planning and estate planning. For more information and a video presentation, visit www.langcapital.net.

TENANT PROFILE

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Page 11: NET LEASED INVESTMENT OPPORTUNITY NEAR HILTON HEAD … · Bluffton/Hilton Head Just minutes from Hilton Head Island, right on the banks of the May River, sits the quaint town of Bluffton,

MARKET PROFILE

Bluffton/Hilton Head

Just minutes from Hilton Head Island, right on the banks of the May River, sits the quaint town of Bluffton, South Carolina. Filled with gorgeous antebellum homes, historic churches and all kinds of artisan shops and wonderful restaurants, Bluffton is anything but quiet. It was even named #1 for Amazing Non- Beach Getaways by Huffington Post, which is no surprise since the gorgeous oak trees draped in moss and the scenic views of the May River give Bluffton some the sweetest Southern charm in all of the Lowcountry. No matter whether you’re looking for a great place to fish or explore by kayak, somewhere to have a family vacation, destination wedding, or even a new place to call home, Bluffton is bound to have somewhere perfect for you.

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5 MILE RADIUS

Page 12: NET LEASED INVESTMENT OPPORTUNITY NEAR HILTON HEAD … · Bluffton/Hilton Head Just minutes from Hilton Head Island, right on the banks of the May River, sits the quaint town of Bluffton,

MARKET PROFILE

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Page 13: NET LEASED INVESTMENT OPPORTUNITY NEAR HILTON HEAD … · Bluffton/Hilton Head Just minutes from Hilton Head Island, right on the banks of the May River, sits the quaint town of Bluffton,

©2017 RealtyLink, LLC, We have obtained the contained information from sources we believe are reliable. We have not however verified that all information is accurate and make no guarantee, warranty or representation of it. The information is subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice, and it is not a substitute for a thorough due diligence investigation. We include opinions, projections, estimations and assumptions for example purposes only. This information may not represent current or future performance of the property. Seek legal advise and conduct due diligence if exact numbers are desired.

RealtyLink, LLC and the RealtyLink logo are trademarks of RealtyLink, LLC and/or its affiliates. All other logos or company materials displayed in these contents are the property of their respective owners.

Investment Contacts:

J. Tyson Glasser, CCIMInvestment Sales [email protected] o • 404.435.6312 c

550 South Main Street, Suite 300 • Greenville, SC 29601864.242.4008 p • 864.232.0160 f • www.REALTYLINKDEV.com

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