Renovated Office Building For
For Sale
Contact for pricing
7116 Firelane Rd, Columbia, SC
Renovated office building with modern features and functional layout.
Property Size3,782 SF
Lot Size0.40 Acres
Price / SF$131.94
Days on Market476
Property Features for 7116 Firelane Rd
General Information
Standard status
Active
Size
3,782 SF
Lot size
0.40 Acres
Property subtype
OFFICE
Listing Agency:
ERA Wilder Realty Inc. - Columbia
(803) 312-1908
Listed By:
David Brock · License #58004
Source:
Moodyscre
Added: May 13, 2025
Changed: Aug 21
Last Checked: Aug 30 at 9:09PM
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 ERA Wilder Realty Inc. - Columbia
Investment Insights
Based on property information with market context.
This renovated 3,782 square foot office building offers visibility and functionality. Updated in 2020, the space includes six private offices, a small bullpen area, a gathering/conference area, and five restrooms. A prep kitchen is also available. The building features epoxy floors, 12-foot ceilings with an open industrial look, and exposed brick. This property is suitable for professional or creative use.
Key Highlights
- Renovated 3,782 SF office building with excellent visibility.
- Prime location suitable for professional or creative use.
- Features six private offices, a bullpen area, and a spacious conference area.
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
$44,930
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
9.00%
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%
$898,600
$898.6K
Cap Rate 7%
$641,857
$641.9K
Cap Rate 9%
$499,222
$499.2K
Market Conditions
NOI Build-Up for 3,782 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
$72.6K $19.20/SF
− Vacancy
−$12.7K −$3.36/SF
EGI
$59.9K $15.84/SF
− OpEx
−$15.0K −$3.96/SF
NOI
$44.9K $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%
$898,600
Cap Rate 7%
$641,857
Cap Rate 9%
$499,222
Alternative Uses
Best Use
Office B
$641.9K
$561.6K – $748.8K
NOI $44,930 @ 7.0% cap · market cap 9.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$931.3K
$814.9K – $1.09M
NOI $65,190 @ 7.0% cap · market cap 13.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
797
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Office in Columbia, SC
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Renovated office building with modern features and functional layout.
Where is this office building located?
The property is located at 7116 Firelane Rd Columbia, SC.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Renovated 3,782 SF office building with excellent visibility.; Prime location suitable for professional or creative use.; Features six private offices, a bullpen area, and a spacious conference area.
