Downtown Office Building with
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1320 Washington Street, Columbia, SC 29201
Three-level office building with a basement and 45 on-site parking spaces, located in Columbia’s CBD under DAC zoning.
Property Size26,568 SF
Lot Size0.83 Acres
Price / SF$169.38
Days on Market120
Property Features for 1320 Washington Street
General Information
Standard status
Active
Size
26,568 SF
Class
A
Total Parking Spaces
45
Lot size
0.83 Acres
Property subtype
Office
Zoning
DAC
Additional Details
Highway Access
Yes
Building Details
Stories
3
Listing Agency:
ROI Commercial LLC
(803) 900-8018
Listed By:
Billy Way · License #SC
Source:
Crexi
Added: Apr 15
Changed: Aug 8
Last Checked: Aug 12 at 8:52AM
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 ROI Commercial LLC
Investment Insights
Based on property information with market context.
1320 Washington Street is a multi-level office building currently owned and occupied by a local financial institution, with the tenant slated to relocate to a new office building under construction on an adjacent site. The building totals approximately 26,568 square feet, equally divided between three levels, and includes a basement level.
The property is situated in Columbia’s CBD, described as being in close proximity to the State House. The site is approximately 0.83 acres and provides 45 on-site parking spaces. City of Columbia DAC zoning is noted as allowing for great density with unlimited height restrictions and zero setback requirements.
With its existing office configuration and on-site parking, the building offers an owner-user or redevelopment-focused opportunity in a central downtown setting with access to major thoroughfares and interstates.
The property is situated in Columbia’s CBD, described as being in close proximity to the State House. The site is approximately 0.83 acres and provides 45 on-site parking spaces. City of Columbia DAC zoning is noted as allowing for great density with unlimited height restrictions and zero setback requirements.
With its existing office configuration and on-site parking, the building offers an owner-user or redevelopment-focused opportunity in a central downtown setting with access to major thoroughfares and interstates.
Key Highlights
- Three‑level office building with a basement totaling approximately 26,568 SF (equally divided between three levels).
- 0.83‑acre site with 45 on‑site parking spaces.
- Currently owned and occupied by a local financial institution that plans to relocate to a new office building under construction on an adjacent site.
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
$315,628
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
7.01%
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%
$6,312,560
$6.3M
Cap Rate 7%
$4,508,971
$4.5M
Cap Rate 9%
$3,506,978
$3.5M
Market Conditions
NOI Build-Up for 26,568 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
$510.1K $19.20/SF
− Vacancy
−$89.3K −$3.36/SF
EGI
$420.8K $15.84/SF
− OpEx
−$105.2K −$3.96/SF
NOI
$315.6K $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%
$6,312,560
Cap Rate 7%
$4,508,971
Cap Rate 9%
$3,506,978
Alternative Uses
Best Use
Office B
$4.51M
$3.95M – $5.26M
NOI $315,628 @ 7.0% cap · market cap 7.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.54M
$5.72M – $7.63M
NOI $457,947 @ 7.0% cap · market cap 10.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
5,655
Businesses Nearby
Explore this area
Business Placement
Demographics for 29201, SC
25,259
Population
12,619
Households
2
Avg Household Size
25
Median Age
56%
College-Educated
92%
High-School Grad
11.5 sq mi
ZIP Area
2,196
Density / Sq Mi
$34,327
Median Household Income
$14,671
Median Earnings
$1,207
Median Rent
$238,200
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 - Three-level office building with a basement and 45 on-site parking spaces, located in Columbia’s CBD under DAC zoning.
Where is this office building located?
The property is located at 1320 Washington Street Columbia, SC.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: Three‑level office building with a basement totaling approximately 26,568 SF (equally divided between three levels).; 0.83‑acre site with 45 on‑site parking spaces.; Currently owned and occupied by a local financial institution that plans to relocate to a new office building under construction on an adjacent site.
