Flex Space with Adjoining
For Sale
$550,000
123 Lawand Drive, Columbia, SC 29210
COMMERCIAL - Columbia, SC
Property Size3,960 SF
Lot Size0.55 Acres
Price / SF$138.89
Days on Market385
Property Features for 123 Lawand Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
General Commercial
Parking
20
Directions
From I-20 (Exit 63 - Bush River Rd): Take Exit 63 toward Bush River Rd Turn right onto Bush River Rd Go 0.8 miles, then turn left onto Zimalcrest Dr Turn right onto Fernandina Rd Turn right onto Lawand Drive 123 Lawand Drive will be on your left
Subdivision
Irmo/St Andrews/Ballentine
Standard status
Active
Size
3,960 SF
Lot size
0.55 Acres
Utilities
Cooling system
Central Air
Amenities
kitchen
board room
Building Details
Floors in Building
2
Listing Agency:
Southern Visions Realty I LLC
(803) 359-9571
Listed By:
Doug Wilkes · License #61261
(803) 359-9571
Added: Aug 11, 2025
Changed: Aug 4
Last Checked: Aug 30 at 12:06PM
MLS# 615068
Copyright © 2026 Consolidated MLS, SC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This for-sale flex space combines an existing structure with an adjoining lot (TMS #R07304-06-06), for a total of 0.55 acres. The building features three entrance doors and three meters, with three bathrooms that share common areas including a kitchen, board room, and entry way. The property is being sold as-is.
Located at 123 Lawand Drive in Columbia, this site is about 1 mile from I-26 and I-20 and minutes from downtown Columbia. The surrounding area includes established businesses and new development.
The property is positioned under General Commercial zoning and is offered with private financing available for qualified businesses.
Located at 123 Lawand Drive in Columbia, this site is about 1 mile from I-26 and I-20 and minutes from downtown Columbia. The surrounding area includes established businesses and new development.
The property is positioned under General Commercial zoning and is offered with private financing available for qualified businesses.
Key Highlights
- Commercial property at 123 Lawand Drive includes an existing structure and adjoining lot (TMS# R07304‑06‑06) for a total of 0.55 acres
- Three entrance doors, three meters, and three bathrooms, with shared common areas including a kitchen, board room, and entry way
- Central air cooling
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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Frequently Asked Questions
What type of property is this?
Flex space - Flex space on 0.55 acres with three entry doors, multiple meters, and shared common areas including a kitchen and board room.
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: Commercial property at 123 Lawand Drive includes an existing structure and adjoining lot (TMS# R07304‑06‑06) for a total of 0.55 acres; Three entrance doors, three meters, and three bathrooms, with shared common areas including a kitchen, board room, and entry way; Central air cooling
