109 Old Salem Rd, Beaufort, SC 29901 For Sale

Regional Geography & Environment:

• Sea Islands Location: The city is primarily situated on Port Royal Island, surrounded by a marshy estuary and tidal waters.
• Water-Dominant Landscape: Beaufort County consists of more water than land; approximately 51% of its 468,000 acres are open waters, sounds, and marshes.
• Natural Hazards: The region is highly susceptible to hurricanes, shoreline erosion, and sea-level rise.

Economic & Social Infrastructure:

• Military Presence: A major driver of the local economy, the region hosts several key installations:
• Marine Corps Air Station (MCAS) Beaufort
• Marine Corps Recruit Depot Parris Island
• U.S. Naval Hospital Beaufort
• Tourism & Hospitality: The area attracts over two million annual visitors. Popular attractions include Hunting Island State Park —South Carolina’s most visited state park—and local festivals like the Beaufort Water Festival.
• Demographics: As of 2023, the city population is approximately 13,700. The broader county is one of the fastest growing in the South, largely due to development near Hilton Head Island and Bluffton.

Strong Market:

• Average Net Worth (Age 75+): $2,662,035
• Average Household Income (Age 75+): $92,335
• Average Home Value: $501,987

Property Highlights:

• List Price: $4,000,000
• Gross Revenue: $2,215,380 (Actual)
• Occupancy: 90% (Actual)
• Forecast NOI: $498,460 (normalizing expenses to 75% of Gross Revenue)
• CoStar Southeast Sold Comps: $292/SF; subject property at $114.62/SF
• CoStar Average National CAP & Sold Comps: 6.5% & $307/SF
• 2025 Weitz Replacement Cost (Construction cost only): $353/SF