Boutique Commercial Building For
For Sale
Contact for pricing
1504 Leesburg Rd., Columbia, SC 29209
Boutique commercial building with 1,550 SF available for sale.
Property Size1,550 SF
Price / SF$193.55
Days on Market708
Property Features for 1504 Leesburg Rd.
General Information
Standard status
Active
Size
1,550 SF
Class
C
Total Parking Spaces
7
Property subtype
Office
Zoning
INS
Building Details
Year Built
1939
Tenancy
Single
Listing Agency:
Trinity Partners
(803) 567-5454
Listed By:
Jake Nidiffer · License #SC 106741
Source:
Crexi
Added: Sep 13, 2024
Changed: Aug 10
Last Checked: Aug 20 at 5:15AM
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
Investment Insights
Based on property information with market context.
A boutique commercial building with approximately 1,550 square feet is available for sale in Southeast Columbia. The property is located in Southeast Columbia.
Key Highlights
- ±1,550 SF Boutique Commercial Building
- Located in Southeast Columbia
- For sale in Southeast Columbia
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
$18,414
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
6.14%
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%
$368,280
$368.3K
Cap Rate 7%
$263,057
$263.1K
Cap Rate 9%
$204,600
$204.6K
Market Conditions
NOI Build-Up for 1,550 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
$29.8K $19.20/SF
− Vacancy
−$5.2K −$3.36/SF
EGI
$24.6K $15.84/SF
− OpEx
−$6.1K −$3.96/SF
NOI
$18.4K $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%
$368,280
Cap Rate 7%
$263,057
Cap Rate 9%
$204,600
Alternative Uses
Best Use
Office B
$263.1K
$230.2K – $306.9K
NOI $18,414 @ 7.0% cap · market cap 6.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$381.7K
$334.0K – $445.3K
NOI $26,717 @ 7.0% cap · market cap 8.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
218
Businesses Nearby
Explore this area
Business Placement
Demographics for 29209, SC
35,738
Population
16,520
Households
2.2
Avg Household Size
37
Median Age
39%
College-Educated
93%
High-School Grad
52.8 sq mi
ZIP Area
677
Density / Sq Mi
$58,854
Median Household Income
$38,756
Median Earnings
$1,252
Median Rent
$183,200
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 - Boutique commercial building with 1,550 SF available for sale.
Where is this office building located?
The property is located at 1504 Leesburg Rd. Columbia, SC.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: ±1,550 SF Boutique Commercial Building; Located in Southeast Columbia; For sale in Southeast Columbia
