Flex Space with Expansion
For Sale
$550,000
123 Lawand Drive, Columbia, SC 29210
Existing commercial improvements offer shared office amenities, multiple entrances, and on-site parking for flexible occupancy.
Property Size3,960 SF
Lot Size0.55 Acres
Price / SF$138.89
Days on Market414
Property Features for 123 Lawand Drive
General Information
Standard status
Active
Size
3,960 SF
Lot size
0.55 Acres
Property subtype
General Commercial
Additional Details
Highway Access
Yes
Amenities
Central Air
3
20 Parking Spaces.
Building Details
Year Built
1985
Stories
2
Listing Agency:
Southern Visions Realty I LLC
(803) 359-9571
Listed By:
Doug Wilkes · License #61261
Source:
Xome
Added: Jul 15, 2025
Changed: Aug 30
Last Checked: Aug 31 at 1:34PM
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 Southern Visions Realty I LLC
Investment Insights
Based on property information with market context.
This flex space includes a 3,960-square-foot existing structure and an adjoining lot, together comprising 0.55 acres. The building was constructed in 1985 and features central air, three entrance doors, three meters, and three bathrooms. Common areas include a kitchen, boardroom, and entry space, while 20 parking spaces support the property’s current configuration. The sale is offered as-is.
Located at 123 Lawand Drive in Columbia, the property is approximately 1 mile from I-26 and I-20 and minutes from downtown Columbia. The surrounding area includes established businesses and new development. The adjoining land adds space for parking, signage, or future expansion, subject to applicable approvals.
Located at 123 Lawand Drive in Columbia, the property is approximately 1 mile from I-26 and I-20 and minutes from downtown Columbia. The surrounding area includes established businesses and new development. The adjoining land adds space for parking, signage, or future expansion, subject to applicable approvals.
Key Highlights
- 3,960‑square‑foot existing structure with adjoining lot totaling 0.55 acres
- Three entrance doors, three meters, and three bathrooms
- Shared kitchen, boardroom, and entry areas
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
$49,096
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
8.93%
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%
$981,920
$981.9K
Cap Rate 7%
$701,371
$701.4K
Cap Rate 9%
$545,511
$545.5K
Market Conditions
NOI Build-Up for 3,960 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
$80.8K $20.40/SF
− Vacancy
−$5.3K −$1.33/SF
EGI
$75.5K $19.07/SF
− OpEx
−$26.4K −$6.68/SF
NOI
$49.1K $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%
$981,920
Cap Rate 7%
$701,371
Cap Rate 9%
$545,511
Alternative Uses
Best Use
Flex RnD
$701.4K
$613.7K – $818.3K
NOI $49,096 @ 7.0% cap · market cap 8.93%
Second Best
Industrial
$690.7K
$604.4K – $805.8K
NOI $48,349 @ 7.0% cap · market cap 8.79%
Theoretical Best
Office A
$975.1K
$853.2K – $1.14M
NOI $68,258 @ 7.0% cap · market cap 12.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
744
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 29210, SC
39,299
Population
19,592
Households
2
Avg Household Size
36
Median Age
30%
College-Educated
91%
High-School Grad
16.8 sq mi
ZIP Area
2,339
Density / Sq Mi
$50,258
Median Household Income
$32,240
Median Earnings
$1,076
Median Rent
$183,000
Median Home Value
Market
Vacancy Rate% for Office in Columbia, SC
Questions? Ask Rey
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Similar Off Market Nearby
- Genesis Catering, LLC — 119 Diamond Ln, Columbia, SC 29210
Frequently Asked Questions
What type of property is this?
Flex space - Existing commercial improvements offer shared office amenities, multiple entrances, and on-site parking for flexible occupancy.
Where is this flex space located?
The property is located at 123 Lawand Drive Columbia, SC.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 3,960‑square‑foot existing structure with adjoining lot totaling 0.55 acres; Three entrance doors, three meters, and three bathrooms; Shared kitchen, boardroom, and entry areas
