General Commercial Office
For Sale
$350,000
108 N Lake Drive, Lexington, SC 29072
COMMERCIAL - Lexington, SC
Property Size1,600 SF
Lot Size0.01 Acres
Price / SF$218.75
Days on Market203
Property Features for 108 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
1,600 SF
Lot size
0.01 Acres
Building Details
Floors in Building
1
Listing Agency:
Southern Visions Realty I LLC
(803) 359-9571
Listed By:
Doug Wilkes · License #61261
(803) 359-9571
Added: Feb 4
Changed: Aug 4
Last Checked: Aug 26 at 7:06AM
MLS# 626229
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 sale listing offers a compact commercial office space set under General Commercial zoning. The property is described as well-suited for office or service-oriented use, subject to zoning and applicable approvals.
Located centrally in Lexington, South Carolina, the site is positioned near the town’s downtown area, including municipal offices, professional services, and multiple restaurants, within a broader mix of surrounding commercial activity.
The listing also notes that a buyer should verify zoning, permitted uses, utilities, and all other property details. The address is 108 N Lake Drive, Lexington, SC 29072.
Located centrally in Lexington, South Carolina, the site is positioned near the town’s downtown area, including municipal offices, professional services, and multiple restaurants, within a broader mix of surrounding commercial activity.
The listing also notes that a buyer should verify zoning, permitted uses, utilities, and all other property details. The address is 108 N Lake Drive, Lexington, SC 29072.
Key Highlights
- Commercial opportunity near Downtown Lexington and the town’s primary business and civic core
- Close to municipal offices, professional services, and multiple restaurants
- Well‑suited for office or service‑oriented use, subject to zoning and approvals
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
—
—
no second resolved use
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
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 units - Small commercial office space in General Commercial zoning, centrally located near downtown Lexington’s business and civic core.
Where is this office units located?
The property is located at 108 N Lake Drive 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: Commercial opportunity near Downtown Lexington and the town’s primary business and civic core; Close to municipal offices, professional services, and multiple restaurants; Well‑suited for office or service‑oriented use, subject to zoning and approvals
