Renovated Flex Space with
For Sale
Contact for pricing
2221 Lake Murray Blvd, Columbia, SC
Renovated flex space featuring multiple bays, heated, and cooled.
Property Size5,500 SF
Lot Size1.02 Acres
Price / SF$150
Days on Market557
Property Features for 2221 Lake Murray Blvd
General Information
Standard status
Active
Size
5,500 SF
Lot size
1.02 Acres
Property subtype
INDUSTRIAL
Listing Agency:
ERA Wilder Realty Inc. - Columbia
(803) 728-8400
Listed By:
David Brock · License #58004
(803) 312-1908
Source:
Moodyscre
Added: Mar 14, 2025
Changed: Sep 8
Last Checked: Sep 20 at 9:06AM
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 5,500 square foot flex space building features eight bays, each equipped with 12 to 14-foot rollup doors. The property has been newly renovated and includes new LED lighting. The building is heated and cooled for climate control. Security is enhanced by a security gate. The building is equipped with three separate meters.
Key Highlights
- Newly renovated, this property is ready for your business.
- Stay comfortable year‑round with heating and cooling.
- Features 8 bays perfect for various uses.
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
$68,190
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
8.27%
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%
$1,363,800
$1.4M
Cap Rate 7%
$974,143
$974.1K
Cap Rate 9%
$757,667
$757.7K
Market Conditions
NOI Build-Up for 5,500 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
$112.2K $20.40/SF
− Vacancy
−$7.3K −$1.33/SF
EGI
$104.9K $19.07/SF
− OpEx
−$36.7K −$6.68/SF
NOI
$68.2K $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%
$1,363,800
Cap Rate 7%
$974,143
Cap Rate 9%
$757,667
Alternative Uses
Best Use
Warehouse
$1.16M
$1.02M – $1.36M
NOI $81,541 @ 7.0% cap · market cap 9.88%
Second Best
Flex RnD
$974.1K
$852.4K – $1.14M
NOI $68,190 @ 7.0% cap · market cap 8.27%
Theoretical Best
Office A
$1.35M
$1.19M – $1.58M
NOI $94,802 @ 7.0% cap · market cap 11.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
138
Businesses Nearby
Balanced
Demand for This Use
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Business Placement
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Columbia, SC
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Frequently Asked Questions
What type of property is this?
Flex space - Renovated flex space featuring multiple bays, heated, and cooled.
Where is this flex space located?
The property is located at 2221 Lake Murray Blvd Columbia, SC.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Newly renovated, this property is ready for your business.; Stay comfortable year‑round with heating and cooling.; Features 8 bays perfect for various uses.
