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. 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: $2,215,380 (Actual) Occupancy: 76% (Actual) Forecast NOI: $553,845 (normalizing expenses to 75% of Gross Revenue) CoStar Southeast Sold Comps: $233/SF; subject property at $78.80/SF 2025 Weitz Replacement Cost (Construction cost only): $353/SF Financial Highlights (5-Year Hold): Property Qualifies for a SBA 504 Loan: 25-year term, 85% LTC, and 5.8% interest Using Vacancy 10% Years 1-10 Revenue growth 5% per year