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    Waterfront Development Tract on Gibson Pond Title is generated by Realmo AI

    186 Zenker Road, Lexington, SC 29072

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    Claim this Listing
    For Sale
    $4,627,500

    Large developable waterfront acreage with extensive pond frontage, positioned for a PUD-style residential, live-work, retail concept.

    Type:Land
    Lot size:
    77.12 Acres
    Added:
    Mar 7, 2025
    Days on Market:
    456
    Last Refresh:
    Jun 6 at 5:28 am

    Property Features for 186 Zenker Road

    General Information

    Standard status
    Active
    Lot size
    77.12 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Robin Jones
    Robin Jones

    Listing agent Robin Jones License #15738

    Listing office Robin Jones Rty Eagle Nat'l

    Listing date Mar 7, 2025

    Source Compass

    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 Robin Jones Rty Eagle Nat'l

    HighLights

    • 77.12‑acre developable tract with waterfront on Gibson Pond
    • Over 1,400 feet of pond frontage
    • Water line is at the property
    • Sewer line is about 350 ft from the property; details available via agent
    • Seller will donate a waterfront portion to the Town of Lexington for inclusion in a park and walking trail project

    Overview

    This offering is the only available developable tract of land on Gibson Pond, totaling 77.12 acres with over 1,400 feet of waterfront frontage. The seller plans to donate a portion of the tract to the Town of Lexington for incorporation into a park and walking trail project.

    Utilities are underway/available at the site, with a water line located at the property. The sewer line is approximately 350 feet from the property, and the agent can provide additional details on sewer connections and plans to extend service to the tract.

    The seller is seeking a developer interested in a PUD-type project that supports a mixed residential, live-work, and retail environment. The remarks also note a daycare investor associated with a primary entrance lot location; details are available through the listing broker. Overall, the depth of waterfront frontage and the stated intention for a planned residential and retail framework make this tract well-suited for an operator or development team evaluating phased planning and amenity integration with the town’s park and walking trail initiative.
    Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lexington
    County
    Lexington
    State
    South Carolina
    Longitude
    -81.2468042
    Latitude
    33.9606662

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    FAQs

    What type of property is this?
    Waterfront Land - Large developable waterfront acreage with extensive pond frontage, positioned for a PUD-style residential, live-work, retail concept.
    Where is this waterfront land located?
    The property is located at 186 Zenker Road Lexington, SC.
    What is the asking price?
    The asking price for this property is $4,627,500.
    What are key features of this property?
    This property features: 77.12‑acre developable tract with waterfront on Gibson Pond; Over 1,400 feet of pond frontage; Water line is at the property
    (803) 622-0187
    We can help!
    Listing Contact
    Robin Jones
    Robin Jones
    Real Estate License ID: 15738
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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