Office/Retail Space with Outdoor
For Sale
Contact for pricing
808 S Lake Dr, Lexington, SC
Office and retail space with patio near Downtown Lexington.
Property Size6,087 SF
Lot Size1.17 Acres
Price / SF$180.71
Days on Market1085
Property Features for 808 S Lake Dr
General Information
Standard status
Active
Size
6,087 SF
Lot size
1.17 Acres
Property subtype
OFFICE
Listing Agency:
Wilson Kibler | Columbia
(803) 779-8600
Listed By:
John Mills · License #97905
(803) 255-8628
Source:
Moodyscre
Added: Sep 26, 2023
Changed: Sep 10
Last Checked: Sep 13 at 11:37AM
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.
This property offers approximately 6,087 square feet of office and retail space, including approximately 5,613 square feet in the main building and an additional approximately 474 square feet of apartment space. Situated on approximately 1.58 acres, the property features an excellent outdoor patio, lawn, and activity space. Ample parking is available. The location is approximately one mile from Downtown Lexington and approximately 0.5 miles from I-20.
Key Highlights
- Excellent outdoor Patio, Lawn, and Activity Space
- ±6,087 SF of Office/Retail Space (±5,613 SF in Main Building and ±474 SF Apartment)
- Situated on ± 1.58 Acres
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
$81,617
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
7.42%
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%
$1,632,340
$1.6M
Cap Rate 7%
$1,165,957
$1.2M
Cap Rate 9%
$906,856
$906.9K
Market Conditions
NOI Build-Up for 6,087 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
$116.1K $19.08/SF
− Vacancy
−$7.3K −$1.20/SF
EGI
$108.8K $17.88/SF
− OpEx
−$27.2K −$4.47/SF
NOI
$81.6K $13.41/SF
Area
Lexington County, SC
Vacancy
6.30%
Lease Rate
$19.08 /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%
$1,632,340
Cap Rate 7%
$1,165,957
Cap Rate 9%
$906,856
Alternative Uses
Best Use
Office B
$1.17M
$1.02M – $1.36M
NOI $81,617 @ 7.0% cap · market cap 7.42%
Second Best
Retail
$875.6K
$766.2K – $1.02M
NOI $61,293 @ 7.0% cap · market cap 5.57%
Theoretical Best
Office A
$1.63M
$1.43M – $1.91M
NOI $114,435 @ 7.0% cap · market cap 10.40%
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
275
Businesses Nearby
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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 Office in South region
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Frequently Asked Questions
What type of property is this?
Office units - Office and retail space with patio near Downtown Lexington.
Where is this office units located?
The property is located at 808 S Lake Dr Lexington, SC.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Excellent outdoor Patio, Lawn, and Activity Space; ±6,087 SF of Office/Retail Space (±5,613 SF in Main Building and ±474 SF Apartment); Situated on ± 1.58 Acres
