Commercial Opportunity in Lexington,
For Sale
$325,000
108 N Lake Dr, Lexington, SC 29072
Well-located commercial property suitable for various uses in Lexington, SC.
Property Size1,600 SF
Price / SF$203.13
Days on Market256
Property Features for 108 N Lake Dr
General Information
Standard status
Active
Size
1,600 SF
Listing Agency:
Southern Visions Realty I LLC
Listed By:
Doug Wilkes · License #61261
(803) 359-9571
Source:
Exprealty
Added: Feb 4
Changed: Oct 17
Last Checked: Oct 16 at 12:18PM
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 Visions Realty I LLC
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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 / Yr
$21,454
Cap Rate
6.60%
Suggested Prices Based on Cap Rates
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
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 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 6.60%
Second Best
Mixed Use
$236.6K
$207.0K – $276.0K
NOI $16,560 @ 7.0% cap · market cap 5.10%
Theoretical Best
Office A
$429.7K
$376.0K – $501.3K
NOI $30,080 @ 7.0% cap · market cap 9.26%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
49
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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 $325,000.
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.
