201 Okatie Village Dr

Colliers is pleased to offer qualified investors the opportunity to acquire a new construction un-anchored strip center in the high barriers to entry market of Okatie, SC (Hilton Head / Bluffton MSA). This four-tenant, new construction asset sits off Fording Island Road (HWY 278), which benefits from traffic counts of 67,900 VPD. HWY 278 is the sole access point to Hilton Head Island (2.5 million visitors annually). Located approximately 20 minutes from Hilton Head, Okatie is a beautiful, rapidly growing community surrounded by golf courses, an affluent population, and a high quality of life. Just across 278 is Sun City Hilton Head, an active adult community home to more than 17,000 residents. The development sprawls over 5,725 acres, has three golf courses, and will have a sum of 10,500 lots at final completion. Within a 1-mile radius of the subject, the area has experienced 203.5% growth in population from 2000-2024. This growth trend is projected to continue, with 19.6% population growth expected from 2024-2029. Furthermore, the immediate average household income within a 1-mile radius is an affluent $107,519. This submarket has prospered, offering a unique opportunity to acquire a stable asset with a strong tenant mix, long lease terms with escalations in a rapidly growing market.
The subject property benefits from a healthy rent roll with a service-oriented tenant mix. Suite sizes range from 1,785 SF to 3,722 SF, which caters to many different uses in the event of a need for a backfill. The rents at the subject property average $30 PSF for a new construction asset. Okatie Village benefits from a strong tenant mix with SGA Dental, which has ±600,000 active patients and over 100 locations, Parlor Donuts', a national coffee and donut concept which has a drive-thru, Feet Fleet (national concept), and Omelette Café, a local gem which has 8 locations. Additionally, an investor will benefit from straightforward, NNN leases which includes 3% annual rent escalations, boosting NOI throughout the term of ownership. Okatie Village allows an investor to acquire a unique, stabilized NNN strip center in an outstanding submarket with a drive-thru, fresh lease terms, and a dynamic tenant mix.