Flex Building with Warehouse
For Sale
Contact for pricing
413 Western Ln, Irmo, SC 29063
Flex building with a warehouse with yard, fully furnished office space, and development land.
Property Size18,000 SF
Lot Size14.30 Acres
Price / SF$144.44
Days on Market755
Property Features for 413 Western Ln
General Information
Standard status
Active
Size
18,000 SF
Lot size
14.30 Acres
Property subtype
LAND
Additional Details
Furnished
Yes
Outdoor Storage
Yes
Listing Agency:
Wilson Kibler | Columbia
(803) 779-8600
Listed By:
Lee Bussell, Jr.
(803) 255-8641
Source:
Moodyscre
Added: Aug 21, 2024
Changed: Sep 8
Last Checked: Sep 13 at 11:44AM
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 Wilson Kibler | Columbia
Investment Insights
Based on property information with market context.
This for-sale flex property includes a large flex building with a dedicated 5,000 SF warehouse area that comes with a yard, along with fully furnished office space. The offering totals approximately 13,000 SF and also includes 14.3 acres of land suitable for development.
The property is located at 413 Western Ln in Irmo, South Carolina. The seller is willing to subdivide the land, providing flexibility for development or reconfiguration of the site to support different end uses.
The property is located at 413 Western Ln in Irmo, South Carolina. The seller is willing to subdivide the land, providing flexibility for development or reconfiguration of the site to support different end uses.
Key Highlights
- 13,000 SF flex building
- Includes a 5,000 SF warehouse with yard
- Fully furnished office space
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
$106,947
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
4.11%
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%
$2,138,940
$2.1M
Cap Rate 7%
$1,527,814
$1.5M
Cap Rate 9%
$1,188,300
$1.2M
Market Conditions
NOI Build-Up for 18,000 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
$135.0K $7.50/SF
− Vacancy
−$9.2K −$0.51/SF
EGI
$125.8K $6.99/SF
− OpEx
−$18.9K −$1.05/SF
NOI
$106.9K $5.94/SF
Area
Richland County, SC
Vacancy
6.80%
Lease Rate
$7.50 /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%
$2,138,940
Cap Rate 7%
$1,527,814
Cap Rate 9%
$1,188,300
Alternative Uses
Best Use
Warehouse
$1.53M
$1.34M – $1.78M
NOI $106,947 @ 7.0% cap · market cap 4.11%
Second Best
Industrial
$1.26M
$1.10M – $1.47M
NOI $88,074 @ 7.0% cap · market cap 3.39%
Theoretical Best
Specialty Retail
$4.06M
$3.55M – $4.74M
NOI $284,305 @ 7.0% cap · market cap 10.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
296
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 29063, SC
36,341
Population
14,658
Households
2.5
Avg Household Size
40
Median Age
46%
College-Educated
96%
High-School Grad
40.1 sq mi
ZIP Area
906
Density / Sq Mi
$92,147
Median Household Income
$48,853
Median Earnings
$1,599
Median Rent
$239,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
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Frequently Asked Questions
What type of property is this?
Flex space - Flex building with a warehouse with yard, fully furnished office space, and development land.
Where is this flex space located?
The property is located at 413 Western Ln Irmo, SC.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: 13,000 SF flex building; Includes a 5,000 SF warehouse with yard; Fully furnished office space
