Commercially Zoned Office
For Sale
Contact for pricing
220 E Main St, Lexington, SC 29072
Office building with 12 surface parking spaces on a 0.57-acre commercial-zoned parcel in Lexington County, SC.
Property Size3,800 SF
Lot Size0.57 Acres
Price / SF$256.58
Days on Market756
Property Features for 220 E Main St
General Information
Standard status
Active
Size
3,800 SF
Total Parking Spaces
12
Lot size
0.57 Acres
Property subtype
OFFICE
Additional Details
Asking Price
$975,000
Building Details
Buildings
1
Building Size
3,800 SF
Listing Agency:
Wilson Kibler | Columbia
(803) 779-8600
Listed By:
Julian Wilson · License #57962
(803) 255-8626
Source:
Moodyscre
Added: Aug 26, 2024
Changed: Sep 14
Last Checked: Sep 19 at 1:10PM
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 office building at 220 E Main Street offers 3,800 SF of office space on a 0.57-acre parcel. The property includes 12 surface parking spaces and is zoned Commercial in Lexington County, South Carolina.
The building’s layout is suited for office use, supported by on-site parking for staff and visitors. The commercial zoning may provide flexibility for compatible business activity, subject to local requirements.
For tenants or buyers seeking an office facility with straightforward access and surface parking, this property provides a defined, single-building setup with a commercial zoning designation in Lexington County.
The building’s layout is suited for office use, supported by on-site parking for staff and visitors. The commercial zoning may provide flexibility for compatible business activity, subject to local requirements.
For tenants or buyers seeking an office facility with straightforward access and surface parking, this property provides a defined, single-building setup with a commercial zoning designation in Lexington County.
Key Highlights
- 3,800 SF office building
- 12 surface parking spaces
- 0.57‑acre parcel
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
$50,952
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
5.23%
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%
$1,019,040
$1.0M
Cap Rate 7%
$727,886
$727.9K
Cap Rate 9%
$566,133
$566.1K
Market Conditions
NOI Build-Up for 3,800 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
$72.5K $19.08/SF
− Vacancy
−$4.6K −$1.20/SF
EGI
$67.9K $17.88/SF
− OpEx
−$17.0K −$4.47/SF
NOI
$51.0K $13.41/SF
Area
Lexington County, SC
Vacancy
6.30%
Lease Rate
$19.08 /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%
$1,019,040
Cap Rate 7%
$727,886
Cap Rate 9%
$566,133
Alternative Uses
Best Use
Office B
$727.9K
$636.9K – $849.2K
NOI $50,952 @ 7.0% cap · market cap 5.23%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.02M
$893.0K – $1.19M
NOI $71,440 @ 7.0% cap · market cap 7.33%
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
1,045
Businesses Nearby
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Office building - Office building with 12 surface parking spaces on a 0.57-acre commercial-zoned parcel in Lexington County, SC.
Where is this office building located?
The property is located at 220 E Main St Lexington, SC.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: 3,800 SF office building; 12 surface parking spaces; 0.57‑acre parcel
