Restaurant Property For
For Sale
Contact for pricing
115 Afton Ct, Columbia, SC 29212
Fully occupied restaurant property with lease in place on 2.07 acres.
Property Size10,000 SF
Lot Size2.07 Acres
Price / SF$340
Days on Market166
Property Features for 115 Afton Ct
General Information
Standard status
Active
Size
10,000 SF
Lot size
2.07 Acres
Property subtype
Retail
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$280,077
Building Details
Tenancy
Single
Listing Agency:
Huggins Realty Group
(919) 848-4951
Listed By:
Drew Huggins · License #183348
Source:
Crexi
Added: Mar 16
Changed: Aug 17
Last Checked: Aug 26 at 3:58PM
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 Huggins Realty Group
Investment Insights
Based on property information with market context.
This commercial real estate property is a restaurant property situated on 2.07 acres. The property is fully occupied with a lease in place that includes a personal guarantee. An established business currently operates on the premises, making this an investment opportunity.
Key Highlights
- Fully Occupied Restaurant Property with Lease in Place
- Established Business
- Lease Includes Personal Guarantee
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
$161,595
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
4.75%
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%
$3,231,900
$3.2M
Cap Rate 7%
$2,308,500
$2.3M
Cap Rate 9%
$1,795,500
$1.8M
Market Conditions
NOI Build-Up for 10,000 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
$228.0K $22.80/SF
− Vacancy
−$12.5K −$1.25/SF
EGI
$215.5K $21.55/SF
− OpEx
−$53.9K −$5.39/SF
NOI
$161.6K $16.16/SF
Area
Columbia, SC
Vacancy
5.50%
Lease Rate
$22.80 /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%
$3,231,900
Cap Rate 7%
$2,308,500
Cap Rate 9%
$1,795,500
Alternative Uses
Best Use
Specialty Retail
$2.31M
$2.02M – $2.69M
NOI $161,595 @ 7.0% cap · market cap 4.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.46M
$2.15M – $2.87M
NOI $172,368 @ 7.0% cap · market cap 5.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
904
Businesses Nearby
883k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 27%
Dining 26%
Superstores 14%
Shops & Services 12%
Walmart
Superstores
120,300 visits/mo
0.5 miles
Academy Sports + Outdoors
Apparel
71,675 visits/mo
0.4 miles
Dillard's
Apparel
48,750 visits/mo
0.4 miles
Chick-fil-A
Dining
48,683 visits/mo
0.2 miles
Olive Garden
Dining
42,613 visits/mo
0.2 miles
Demographics for 29212, SC
29,739
Population
13,374
Households
2.2
Avg Household Size
43
Median Age
46%
College-Educated
94%
High-School Grad
21.4 sq mi
ZIP Area
1,390
Density / Sq Mi
$74,652
Median Household Income
$45,221
Median Earnings
$1,359
Median Rent
$222,200
Median Home Value
Market
Vacancy Rate% for Retail in Columbia, SC
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- BIG L’S KITCHEN — 151, Columbia, SC 29212
- HowDeeDoezIT — Harbison Blvd, Columbia, SC 29212
Frequently Asked Questions
What type of property is this?
Restaurant - Fully occupied restaurant property with lease in place on 2.07 acres.
Where is this restaurant located?
The property is located at 115 Afton Ct Columbia, SC.
What is the asking price?
The asking price for this property is $3,400,000.
What are key features of this property?
This property features: Fully Occupied Restaurant Property with Lease in Place; Established Business; Lease Includes Personal Guarantee
