Two-Story Office
For Sale
$2,250,000
1505 Blanding Street, Columbia, SC 29201
Commercial Sale, Columbia, SC
Property Size16,489 SF
Lot Size1.16 Acres
Price / SF$136.45
Days on Market47
Property Features for 1505 Blanding Street
General Information
Property type
Commercial Sale
Property subtype
Other
High school district
000000
Directions
Located in downtown Columbia at the corner of Bull and Blanding Streets.
Standard status
Active
APN
R11403-16-13
Lot size
1.16 Acres
Listing Agency:
National Land Realty, Columbia, SC
(855) 384-5263
Listed By:
Hunter Suggs · License #28070
(855) 384-5263
Added: Jul 7
Changed: Aug 20
Last Checked: Aug 22 at 9:06PM
MLS# 11918495
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-story office building contains 16,489 square feet on a 1.16-acre parcel. The property is positioned in downtown Columbia within the Robert Mills Historic District overlay. Current City of Columbia zoning supports a broad range of commercial uses.
Parking is available both on the property and along surrounding streets, with a ratio of 5 spaces per 1,000 SF. Additional parking may be added at the northeast corner of the site. The building was most recently occupied by UNUMB Autism Academy, and that lease expired in June 2026.
Parking is available both on the property and along surrounding streets, with a ratio of 5 spaces per 1,000 SF. Additional parking may be added at the northeast corner of the site. The building was most recently occupied by UNUMB Autism Academy, and that lease expired in June 2026.
Key Highlights
- 16,489/SF two‑story office building
- 1.16‑acre site in downtown Columbia
- Located within the Robert Mills Historic District overlay
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
$195,889
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
8.71%
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%
$3,917,780
$3.9M
Cap Rate 7%
$2,798,414
$2.8M
Cap Rate 9%
$2,176,544
$2.2M
Market Conditions
NOI Build-Up for 16,489 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
$316.6K $19.20/SF
− Vacancy
−$55.4K −$3.36/SF
EGI
$261.2K $15.84/SF
− OpEx
−$65.3K −$3.96/SF
NOI
$195.9K $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%
$3,917,780
Cap Rate 7%
$2,798,414
Cap Rate 9%
$2,176,544
Alternative Uses
Best Use
Office B
$2.80M
$2.45M – $3.26M
NOI $195,889 @ 7.0% cap · market cap 8.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.06M
$3.55M – $4.74M
NOI $284,218 @ 7.0% cap · market cap 12.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,854
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Current city zoning permits commercial uses, with parking available on and off the property.
Where is this office building located?
The property is located at 1505 Blanding Street Columbia, SC.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: 16,489/SF two‑story office building; 1.16‑acre site in downtown Columbia; Located within the Robert Mills Historic District overlay
