Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1551 S Lake Dr Lexington, SC 29072

    Sponsored
    Picture of Commercial land at S Lake Dr 1551, Lexington, SC
    For Sale
    $450,000

    Commercial - Lexington, SC

    Property size:
    2,056 SF
    Lot size:
    3.04 Acres
    Days on Market:
    106
    Last Refresh:
    Jan 30 at 2:06 am

    Property Features for 1551 S Lake Dr

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    ID
    APN
    006500-03-021
    Parking
    10
    Size
    2,056 SF
    Lot size
    3.04 Acres

    Utilities

    Heating system
    Central
    Cooling system
    Central Air

    Building Details

    Year built
    1960
    Floors in Building
    2
    Building materials
    Frame
    Architectural style
    Other

    We can help!

    Listing Contact
    Angela Cash

    Southern Visions Realty, Inc (803) 359-9571

    Listing agent Angela Cash (803) 359-9571

    Listing date Oct 17, 2025

    MLS# 619838 Listing URL

    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.

    Learn more

    Property Insight Report

    Overview

    Development Opportunity in Lexington, SC

    This 3.04-acre parcel offers a development opportunity in a growing area of Lexington, South Carolina. The site features road frontage on South Lake Drive and is zoned ID (Intensive Development), making it suitable for commercial or mixed-use projects. A two-story residence, approximately 2,056 square feet, is located on the property. Configured as a 3-bed, 2-bath home, it provides flexibility during the transition to redevelopment. Additional adjoining parcels are available, allowing for assemblage and increased scale. A 402-home residential project is planned directly across the street, and major retail anchors, including Walmart and a new Target development, are located nearby. The property benefits from high visibility and existing infrastructure, positioning it for investors, developers, or end users.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Realty agency Building Supply Wholesale Shop Auto Repair Shop Hair Salon Nail Salon Hotel & Motel Gym & Fitness Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lexington
    County
    Lexington
    State
    South Carolina
    Longitude
    -81.235275
    Latitude
    33.926699

    Nearby Similar for Sale

    • $650,000
      5,320 SF

      Lexington Mobile Home Park Investment

      Updated mobile home park with strong income potential in Lexington.
      128 Sandy Springs Ln, Lexington, SC 29073
      View Details
    • $400,000
      1,808 SF

      Versatile Lexington Property with Updates

      Updated 1.13-acre property zoned for limited commercial use.
      104 Round Knob Rd, Lexington, SC 29072
      View Details
    • $450,000
      1,549 SF

      Lexington Ranch with Farmhouse

      3.36-acre corner lot with farmhouse, mobile home, and stables.
      3405 Emanuel Church Rd, Lexington, SC 29073
      View Details
    • $249,000
      1,596 SF

      Lexington Commercial Property for Sale

      Commercial property in Lexington, SC, ideal for retail.
      1608 W Main St Apt, Lexington, SC 29072
      View Details
    • New
      $779,000
      10,000 SF

      Income-Generating Lexington Commercial Property

      1.07 acre property with multiple income-generating units.
      2040 S Lake Dr, Lexington, SC 29073
      View Details
    • $1,150,000
      8,640 SF

      Fully Leased Commercial Investment Property

      High-visibility Lexington office building with strong tenant occupancy and income streams.
      4265 Augusta Rd, Lexington, SC 29073
      View Details
    • $359,000
      3,400 SF

      Lexington Commercial Property For Sale

      3,400 SF commercial building suitable for childcare or community uses.
      109 Lisa Dr, Lexington, SC 29073
      View Details
    • $475,000
      3,200 SF

      New Lexington Warehouse with Tall Doors

      Newly constructed warehouse with tall doors for RV or boat storage.
      1327 Old Cherokee Rd, Lexington, SC 29072
      View Details
    • $222,990
      1,720 SF

      New Lexington Townhome with Modern Finishes

      Low-maintenance townhome with modern layouts and energy-efficient features in Lexington.
      280 South Lake Ct, Lexington, SC 29073
      View Details
    • $222,990

      New Lexington Townhome with Modern Finishes

      Low-maintenance townhome with modern layouts and energy-efficient features in Lexington.
      266 South Lake Ct, Lexington, SC 29073
      View Details
    • $222,990

      New Lexington Townhome with Modern Finishes

      Low-maintenance townhome in Lexington, SC with modern layouts and finishes.
      278 South Lake Ct, Lexington, SC 29073
      View Details
    • $209,000
      1,396 SF

      New Home with Modern Finishes

      Move-in ready home featuring modern finishes and a practical layout.
      202a Fields Ln, Lexington, SC 29073
      View Details

    FAQs

    What type of property is this?
    Commercial land - 3.04-acre parcel ideal for commercial or mixed-use development.
    Where is this commercial land located?
    The property is located at 1551 S Lake Dr Lexington, SC.
    What is the asking price?
    The asking price for this property is $450,000.
    What are key features of this property?
    This property features: - 3. 04-acre parcel zoned ID (Intensive Development) ideal for commercial or mixed-use ventures.; - **Substantial road frontage on highly traveled South Lake Drive offers high visibility.**; - Located in a fast-growing corridor with major momentum, including a 402-home residential project across the street.
    (803) 359-9571
    Request Owner's contact information
    1551 S Lake Dr Lexington, SC 29072
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1551 S Lake Dr
    Lexington, SC 29072
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1551 S Lake Dr Lexington, SC 29072
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Angela Cash
    (803) 359-9571
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.