Neighborhood Commercial Office
For Sale
$575,000
7451 Irmo Drive, Columbia, SC 29212
1992-built office building with private offices, conference rooms, and exterior storage options.
Property Size3,866 SF
Lot Size0.92 Acres
Price / SF$148.73
Days on Market90
Property Features for 7451 Irmo Drive
General Information
Standard status
Active
Size
3,866 SF
Class
B
Total Parking Spaces
13
Lot size
0.92 Acres
Property subtype
Office
Zoning
Neighborhood Commercial (CN)
Additional Details
Office Units
13
Building Details
Building Size
3,866 SF
Year Built
1992
Listing Agency:
Trinity Partners | Columbia
(803) 261-4969
Listed By:
Bruce Harper, SIOR · License #99024
(803) 261-4969
Source:
Trinity-partners
Added: Jun 1
Changed: Aug 8
Last Checked: Aug 29 at 6:35AM
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 Trinity Partners | Columbia
Investment Insights
Based on property information with market context.
This 13,866 SF office building was built in 1992 and is laid out with 13 offices, two conference rooms, and a break room for day-to-day operations. The interior includes three bathrooms plus three interior storage rooms and an electrical closet to support administrative and operational needs. Outside, the property offers two exterior storage buildings, along with dedicated parking for 13 vehicles.
The building is located in the Town of Irmo within Neighborhood Commercial (CN) zoning, positioned in close proximity to commercial and residential corridors and multiple interstate systems. The overall site is 0.92 acres.
With its established office configuration and multiple room options for meetings and collaboration, this property is well suited for professional service tenants or owner-operators seeking a practical workplace with built-in storage. The combination of interior and exterior storage can also help accommodate organizations with equipment, supplies, or document-heavy workflows, while the parking availability supports daily employee and visitor access.
The building is located in the Town of Irmo within Neighborhood Commercial (CN) zoning, positioned in close proximity to commercial and residential corridors and multiple interstate systems. The overall site is 0.92 acres.
With its established office configuration and multiple room options for meetings and collaboration, this property is well suited for professional service tenants or owner-operators seeking a practical workplace with built-in storage. The combination of interior and exterior storage can also help accommodate organizations with equipment, supplies, or document-heavy workflows, while the parking availability supports daily employee and visitor access.
Key Highlights
- 3,866 SF office building built in 1992 with 13 offices and 3 bathrooms
- Includes 2 conference rooms, plus a break room
- Three interior storage rooms and an electrical closet
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
$45,928
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
7.99%
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%
$918,560
$918.6K
Cap Rate 7%
$656,114
$656.1K
Cap Rate 9%
$510,311
$510.3K
Market Conditions
NOI Build-Up for 3,866 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
$74.2K $19.20/SF
− Vacancy
−$13.0K −$3.36/SF
EGI
$61.2K $15.84/SF
− OpEx
−$15.3K −$3.96/SF
NOI
$45.9K $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%
$918,560
Cap Rate 7%
$656,114
Cap Rate 9%
$510,311
Alternative Uses
Best Use
Office B
$656.1K
$574.1K – $765.5K
NOI $45,928 @ 7.0% cap · market cap 7.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$952.0K
$833.0K – $1.11M
NOI $66,637 @ 7.0% cap · market cap 11.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
13
Office units
Location Intelligence
Trade Area within ½ mile
898
Businesses Nearby
Explore this area
Business Placement
Demographics for 29212, SC
29,739
Population
13,374
Households
2.2
Avg Household Size
43
Median Age
46%
College-Educated
94%
High-School Grad
21.4 sq mi
ZIP Area
1,390
Density / Sq Mi
$74,652
Median Household Income
$45,221
Median Earnings
$1,359
Median Rent
$222,200
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?
Office building - 1992-built office building with private offices, conference rooms, and exterior storage options.
Where is this office building located?
The property is located at 7451 Irmo Drive Columbia, SC.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 3,866 SF office building built in 1992 with 13 offices and 3 bathrooms; Includes 2 conference rooms, plus a break room; Three interior storage rooms and an electrical closet
