Flex Building with
For Sale
$750,000
243 Swartz Road, Lexington, SC 29072
Flex building for sale with office and warehouse space, plus a dock well, drive-in doors, and a fenced laydown yard.
Property Size6,464 SF
Price / SF$116.03
Days on Market39
Property Features for 243 Swartz Road
General Information
Standard status
Active
Size
6,464 SF
Property subtype
Industrial
Warehouse & Industrial
Dock-High Doors
1
Drive-In Doors
2
Additional Details
Fenced Yard
Yes
Building Details
Building Size
6,464 SF
Listing Agency:
Trinity Partners | Columbia
(803) 422-5060
Listed By:
Macon Lovelace, SIOR
(803) 422-5060
Source:
Trinity-partners
Added: Jul 17
Changed: Aug 11
Last Checked: Aug 23 at 4:09AM
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 flex building totals 6,464 SF and includes 1,500 SF of office space along with the remaining warehouse flex area. The property offers one dock well and two drive-in doors to support a mixed operational layout.
An exterior fenced-in laydown yard is included for equipment storage or material handling needs.
The combination of office space and warehouse flex improvements makes the building suitable for users seeking functional space for both administrative and operational activity in one facility.
An exterior fenced-in laydown yard is included for equipment storage or material handling needs.
The combination of office space and warehouse flex improvements makes the building suitable for users seeking functional space for both administrative and operational activity in one facility.
Key Highlights
- 6,464 SF flex building available for sale
- Includes 1,500 SF office space plus the balance warehouse flex space
- Warehouse has 1 dock well and 2 drive‑in doors
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
$48,545
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
6.47%
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%
$970,900
$970.9K
Cap Rate 7%
$693,500
$693.5K
Cap Rate 9%
$539,389
$539.4K
Market Conditions
NOI Build-Up for 6,464 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
$61.3K $9.48/SF
− Vacancy
−$4.2K −$0.64/SF
EGI
$57.1K $8.84/SF
− OpEx
−$8.6K −$1.33/SF
NOI
$48.5K $7.51/SF
Area
Lexington County, SC
Vacancy
6.80%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
15.00%
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%
$970,900
Cap Rate 7%
$693,500
Cap Rate 9%
$539,389
Alternative Uses
Best Use
Office B
$1.24M
$1.08M – $1.44M
NOI $86,672 @ 7.0% cap · market cap 11.56%
Second Best
Warehouse
$693.5K
$606.8K – $809.1K
NOI $48,545 @ 7.0% cap · market cap 6.47%
Theoretical Best
Office A
$1.74M
$1.52M – $2.03M
NOI $121,523 @ 7.0% cap · market cap 16.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Dock-high doors
2
Drive-in doors
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
562
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 29072, SC
65,060
Population
26,951
Households
2.4
Avg Household Size
39
Median Age
48%
College-Educated
96%
High-School Grad
68.0 sq mi
ZIP Area
957
Density / Sq Mi
$103,415
Median Household Income
$55,500
Median Earnings
$1,317
Median Rent
$304,200
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Flex building for sale with office and warehouse space, plus a dock well, drive-in doors, and a fenced laydown yard.
Where is this flex space located?
The property is located at 243 Swartz Road Lexington, SC.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 6,464 SF flex building available for sale; Includes 1,500 SF office space plus the balance warehouse flex space; Warehouse has 1 dock well and 2 drive‑in doors
