±34,897 SF Assisted Living Facility | Beaufort, SC

Highlights

• 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: $2,750,000
• Gross Revenue: $2,077,580 (Actual)
• Occupancy: 81.35% (Actual)
• Forecast NOI: $519,395 (normalizing expenses to 75% of Gross Revenue)
• CoStar Southeast Sold Comps: $233/SF; subject property at $112.46/SF
• 2024 Weitz Replacement Cost (Construction cost only): $273/SF
• Financial Highlights (5-Year Hold):
• Property Qualifies for a SBA 504 Loan: 25-year term, 85% LTC, and 5.9% interest
• Using Vacancy 10% Years 1-10
• Revenue growth 5% per year

Description

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Beaufort, South Carolina, is a historic harbor city in the heart of the Lowcountry and the Sea Islands. Founded in 1711, it is the second-oldest city in the state and serves as the county seat of Beaufort County. Known as the “Queen of the Carolina Sea Islands,” it is renowned for its well-preserved antebellum architecture, and its entire 304-acre downtown is a National Historic Landmark District.

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