Office Building with Private
New
For Sale
$295,000
1118 Greenlawn Drive, Columbia, SC 29209
Configured for professional or administrative use with reception, meeting, office, and storage areas.
Property Size1,962 SF
Price / SF$150.36
Days on Market6
Property Features for 1118 Greenlawn Drive
General Information
Standard status
Active
Size
1,962 SF
Property subtype
Commercial
Additional Details
Highway Access
Yes
Amenities
Lot size: 0
Public
Rollback tax
Central
Listed on 2026-09-09
6 parking spaces
1,962 gross square footage, Built in 1962, Construction: Brick
County: Richland, Geo Latitude: 33.974293, Geo Longitude: -80.941061
Zoning: General Commercial
Restrooms
Building Details
Building Size
1,962 SF
Listing Agency:
Horton Family Realty
(803) 783-0700
Listed By:
Tammy Tremblay
(864) 920-0303
Source:
Blackstreaminternational
Added: Sep 9
Changed: Sep 13
Last Checked: Sep 13 at 10:45AM
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 Horton Family Realty
Investment Insights
Based on property information with market context.
This 1,962-square-foot office property provides a practical interior arrangement with five private offices, a spacious conference room, a reception area, and a separate filing and storage room. The layout supports professional or administrative operations while offering a range of dedicated work and meeting spaces.
Located at 1118 Greenlawn Drive in Columbia, the property provides access to major highways, downtown Columbia, and surrounding commercial areas. Its combination of private offices, shared meeting space, reception, and storage creates a functional setting for an office user seeking an established workplace configuration.
Located at 1118 Greenlawn Drive in Columbia, the property provides access to major highways, downtown Columbia, and surrounding commercial areas. Its combination of private offices, shared meeting space, reception, and storage creates a functional setting for an office user seeking an established workplace configuration.
Key Highlights
- 1,962 SF office property at 1118 Greenlawn Drive, Columbia, SC 29209
- Five private offices for dedicated work areas
- Spacious conference room for meetings and collaboration
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
$23,309
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
7.90%
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%
$466,180
$466.2K
Cap Rate 7%
$332,986
$333.0K
Cap Rate 9%
$258,989
$259.0K
Market Conditions
NOI Build-Up for 1,962 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
$37.7K $19.20/SF
− Vacancy
−$6.6K −$3.36/SF
EGI
$31.1K $15.84/SF
− OpEx
−$7.8K −$3.96/SF
NOI
$23.3K $11.88/SF
Area
Columbia, SC
Vacancy
17.50%
Lease Rate
$19.20 /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%
$466,180
Cap Rate 7%
$332,986
Cap Rate 9%
$258,989
Alternative Uses
Best Use
Office B
$333.0K
$291.4K – $388.5K
NOI $23,309 @ 7.0% cap · market cap 7.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$483.1K
$422.7K – $563.7K
NOI $33,819 @ 7.0% cap · market cap 11.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
388
Businesses Nearby
Explore this area
Business Placement
Demographics for 29209, SC
35,738
Population
16,520
Households
2.2
Avg Household Size
37
Median Age
39%
College-Educated
93%
High-School Grad
52.8 sq mi
ZIP Area
677
Density / Sq Mi
$58,854
Median Household Income
$38,756
Median Earnings
$1,252
Median Rent
$183,200
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 Columbia, SC
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Frequently Asked Questions
What type of property is this?
Office building - Configured for professional or administrative use with reception, meeting, office, and storage areas.
Where is this office building located?
The property is located at 1118 Greenlawn Drive Columbia, SC.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: 1,962 SF office property at 1118 Greenlawn Drive, Columbia, SC 29209; Five private offices for dedicated work areas; Spacious conference room for meetings and collaboration
