Commercial Opportunity in Lexington,
For Sale
Contact for pricing
108 N Lake Dr, Lexington, SC 29072
Well-located commercial property suitable for various uses in Lexington, SC.
Property Size1,600 SF
Price / SF$218.75
Days on Market188
Property Features for 108 N Lake Dr
General Information
Standard status
Active
Size
1,600 SF
Property subtype
Mixed Use, Office
Zoning
Commercial
Occupancy
50%
Investment Type
Owner/User
Building Details
Year Built
1950
Buildings
1
Stories
1
Listing Agency:
Southern Vision Real estate
(803) 359-9571
Listed By:
Doug Wilkes · License #61261
Source:
Crexi
Added: Feb 4
Changed: Aug 7
Last Checked: Aug 10 at 8:15AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Southern Vision Real estate
Investment Insights
Based on property information with market context.
Located in the heart of Lexington, South Carolina, 108 N. Lake Drive presents a commercial opportunity, situated minutes from Main Street and the town’s primary commercial core. The property features road frontage and visibility along N. Lake Drive. Traffic counts in the vicinity support a range of commercial applications. The site is surrounded by established office, retail, residential, and civic establishments within a growing Lexington submarket. The property is suitable for professional office, medical, service-oriented, or owner-user occupancy, as well as long-term investment. Its central location allows access to Downtown Lexington and major corridors connecting to the greater Columbia MSA. The property size is 1600 square feet.
Key Highlights
- Excellent road frontage and visibility on N. Lake Drive.
- Strong traffic counts supporting a wide range of commercial uses.
- Central location provides convenient access to Downtown Lexington and major corridors.
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
$21,454
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
6.13%
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%
$429,080
$429.1K
Cap Rate 7%
$306,486
$306.5K
Cap Rate 9%
$238,378
$238.4K
Market Conditions
NOI Build-Up for 1,600 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
$30.5K $19.08/SF
− Vacancy
−$1.9K −$1.20/SF
EGI
$28.6K $17.88/SF
− OpEx
−$7.2K −$4.47/SF
NOI
$21.5K $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%
$429,080
Cap Rate 7%
$306,486
Cap Rate 9%
$238,378
Alternative Uses
Best Use
Office B
$306.5K
$268.2K – $357.6K
NOI $21,454 @ 7.0% cap · market cap 6.13%
Second Best
Mixed Use
$236.6K
$207.0K – $276.0K
NOI $16,560 @ 7.0% cap · market cap 4.73%
Theoretical Best
Office A
$429.7K
$376.0K – $501.3K
NOI $30,080 @ 7.0% cap · market cap 8.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
845
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Well-located commercial property suitable for various uses in Lexington, SC.
Where is this mixed-use property located?
The property is located at 108 N Lake Dr Lexington, SC.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Excellent road frontage and visibility on N. Lake Drive.; Strong traffic counts supporting a wide range of commercial uses.; Central location provides convenient access to Downtown Lexington and major corridors.
