Office Building Near Civic
For Sale
$299,000
110 N Lake Drive, Lexington, SC 29072
COMMERCIAL/INDUSTRIAL, Lexington, SC
Property Size1,190 SF
Lot Size0.12 Acres
Price / SF$251.26
Days on Market213
Property Features for 110 N Lake Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
General Commercial
Parking
4
Directions
W. Main Street to North Lake or Hwy 378 to North Lake
Subdivision
Lexington and surrounding area
Standard status
Active
Size
1,190 SF
Lot size
0.12 Acres
Building Details
Floors in Building
1
Listing Agency:
Southern Visions Realty I LLC
(803) 359-9571
Listed By:
Doug Wilkes · License #61261
(803) 903-5263
Added: Feb 3
Changed: Sep 4
Last Checked: Sep 4 at 10:06PM
MLS# 626186
Copyright © 2026 Consolidated MLS, SC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,190-square-foot office building offers a compact commercial footprint in Lexington. The property is zoned General Commercial, and its scale may support office or service-oriented operations subject to applicable approvals.
The site is positioned near Downtown Lexington and the community’s central business and civic area. Municipal offices, professional services, restaurants, and other commercial activity are located nearby, providing a setting oriented toward business and service uses.
The site is positioned near Downtown Lexington and the community’s central business and civic area. Municipal offices, professional services, restaurants, and other commercial activity are located nearby, providing a setting oriented toward business and service uses.
Key Highlights
- 1,190‑square‑foot office building
- 0.12‑acre property
- General Commercial zoning
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$15,956
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.34%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$319,120
$319.1K
Cap Rate 7%
$227,943
$227.9K
Cap Rate 9%
$177,289
$177.3K
Market Conditions
NOI Build-Up for 1,190 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$22.7K $19.08/SF
− Vacancy
−$1.4K −$1.20/SF
EGI
$21.3K $17.88/SF
− OpEx
−$5.3K −$4.47/SF
NOI
$16.0K $13.41/SF
Area
Lexington County, SC
Vacancy
6.30%
Lease Rate
$19.08 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$319,120
Cap Rate 7%
$227,943
Cap Rate 9%
$177,289
Alternative Uses
Best Use
Office B
$227.9K
$199.5K – $265.9K
NOI $15,956 @ 7.0% cap · market cap 5.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$319.6K
$279.7K – $372.9K
NOI $22,372 @ 7.0% cap · market cap 7.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,045
Businesses Nearby
Explore this area
Business Placement
Demographics for 29072, SC
65,060
Population
26,951
Households
2.4
Avg Household Size
39
Median Age
48%
College-Educated
96%
High-School Grad
68.0 sq mi
ZIP Area
957
Density / Sq Mi
$103,415
Median Household Income
$55,500
Median Earnings
$1,317
Median Rent
$304,200
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Compact commercial building suited to office or service-oriented use under General Commercial zoning.
Where is this office building located?
The property is located at 110 N Lake Drive Lexington, SC.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: 1,190‑square‑foot office building; 0.12‑acre property; General Commercial zoning
