Columbia Flex Building For
For Sale
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1240 Veterans Rd, Columbia, SC
43,600 SF flex building in Columbia, South Carolina.
Property Size43,600 SF
Lot Size7.68 Acres
Price / SF$140.48
Days on Market514
Property Features for 1240 Veterans Rd
General Information
Standard status
Active
Size
43,600 SF
Lot size
7.68 Acres
Property subtype
INDUSTRIAL
Listing Agency:
Wilson Kibler | Columbia
(803) 779-8600
Listed By:
George T. McCutchen III · License #46745
(803) 255-8603
Source:
Moodyscre
Added: Apr 10, 2025
Changed: Jul 6
Last Checked: Sep 4 at 2:26PM
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 Wilson Kibler | Columbia
Investment Insights
Based on property information with market context.
The property at 1240 Veterans Road in Columbia, South Carolina, presents an opportunity to acquire a 100% leased, approximately 43,600-square-foot flex building. The property is located in the southeast submarket of the Columbia industrial market and features a NNN lease with strong cash flows. The Columbia industrial market encompasses 63.1 million square feet with a low vacancy rate of 3.9%. Specifically, the southeast Columbia submarket accounts for 14.8 million square feet and has a 4.3% vacancy rate. The tenant, REI Automation, is a subsidiary of the Hahn Group.
Key Highlights
- 100% leased, ±43,600‑square‑foot flex building
- NNN lease with strong cash flows
- Located in the rapidly expanding Columbia market
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
$540,557
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
8.83%
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%
$10,811,140
$10.8M
Cap Rate 7%
$7,722,243
$7.7M
Cap Rate 9%
$6,006,189
$6.0M
Market Conditions
NOI Build-Up for 43,600 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
$889.4K $20.40/SF
− Vacancy
−$57.8K −$1.33/SF
EGI
$831.6K $19.07/SF
− OpEx
−$291.1K −$6.68/SF
NOI
$540.6K $12.40/SF
Area
Columbia, SC
Vacancy
6.50%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
35.00%
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%
$10,811,140
Cap Rate 7%
$7,722,243
Cap Rate 9%
$6,006,189
Alternative Uses
Best Use
Flex RnD
$7.72M
$6.76M – $9.01M
NOI $540,557 @ 7.0% cap · market cap 8.83%
Second Best
Industrial
$7.60M
$6.65M – $8.87M
NOI $532,330 @ 7.0% cap · market cap 8.69%
Theoretical Best
Office A
$10.74M
$9.39M – $12.53M
NOI $751,524 @ 7.0% cap · market cap 12.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
105
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Industrial in Columbia, SC
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - 43,600 SF flex building in Columbia, South Carolina.
Where is this flex space located?
The property is located at 1240 Veterans Rd Columbia, SC.
What is the asking price?
The asking price for this property is $6,125,000.
What are key features of this property?
This property features: 100% leased, ±43,600‑square‑foot flex building; NNN lease with strong cash flows; Located in the rapidly expanding Columbia market
