Commercial Land with
For Sale
$240,000
1569 S Lake Drive, Lexington, SC 29073
COMMERCIAL/INDUSTRIAL, Lexington, SC
Property Size1,473 SF
Lot Size1.02 Acres
Price / SF$162.93
Days on Market21
Property Features for 1569 S Lake Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
ID
Parking
100
Directions
I-20 to Exit 55 (S. Lake Drive/SC-6) toward Red Bank. Continue approximately 2.5 miles; property is on the left just past Industrial Drive.
Subdivision
Lexington and surrounding area
Standard status
Active
Size
1,473 SF
Lot size
1.02 Acres
Listing Agency:
Southern Visions Realty I LLC
Listed By:
Angela Cash
(803) 359-9571
Added: Aug 16
Changed: Aug 23
Last Checked: Sep 5 at 4:06AM
MLS# 641009
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 1.02-acre commercial land parcel fronts S Lake Drive, also identified as Hwy 6, in Lexington. The site provides approximately 135 feet of road frontage and extends nearly 400 feet from the roadway, creating a substantial land configuration. Zoning is identified as ID.
Existing infrastructure includes power, a well, and two septic systems. The property address is 1569 S Lake Drive, Lexington, SC 29073. Reported vehicle traffic along the corridor is 28,300 VPD. Any proposed use, access, setbacks, utility availability, and development plans remain subject to applicable zoning, permitting, and authority approvals.
Existing infrastructure includes power, a well, and two septic systems. The property address is 1569 S Lake Drive, Lexington, SC 29073. Reported vehicle traffic along the corridor is 28,300 VPD. Any proposed use, access, setbacks, utility availability, and development plans remain subject to applicable zoning, permitting, and authority approvals.
Key Highlights
- 1.02‑acre commercial land parcel in Lexington
- Approximately 135 feet of frontage along S Lake Drive (Hwy 6)
- ID zoning designation
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
$10,020
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
4.18%
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%
$200,400
$200.4K
Cap Rate 7%
$143,143
$143.1K
Cap Rate 9%
$111,333
$111.3K
Market Conditions
NOI Build-Up for 1,473 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
$19.4K $13.20/SF
− Vacancy
−$1.2K −$0.83/SF
EGI
$18.2K $12.37/SF
− OpEx
−$8.2K −$5.57/SF
NOI
$10.0K $6.80/SF
Area
Lexington County, SC
Vacancy
6.30%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
45.00%
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%
$200,400
Cap Rate 7%
$143,143
Cap Rate 9%
$111,333
Alternative Uses
Best Use
Apartment 5plus
$143.1K
$125.3K – $167.0K
NOI $10,020 @ 7.0% cap · market cap 4.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$395.6K
$346.2K – $461.5K
NOI $27,692 @ 7.0% cap · market cap 11.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
46
Businesses Nearby
Explore this area
Business Placement
Demographics for 29073, SC
48,653
Population
20,239
Households
2.4
Avg Household Size
37
Median Age
22%
College-Educated
89%
High-School Grad
81.8 sq mi
ZIP Area
595
Density / Sq Mi
$72,648
Median Household Income
$45,050
Median Earnings
$1,046
Median Rent
$198,100
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - ID-zoned commercial land with existing power, well, and septic systems.
Where is this commercial land located?
The property is located at 1569 S Lake Drive Lexington, SC.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: 1.02‑acre commercial land parcel in Lexington; Approximately 135 feet of frontage along S Lake Drive (Hwy 6); ID zoning designation
