Main Street Live-Work
For Sale
$299,900
1520 Main, Columbia, SC 29201
Mixed-use condominium with an on-site reserved garage parking space in downtown Columbia.
Property Size864 SF
Price / SF$347.11
Days on Market11
Property Features for 1520 Main
General Information
Standard status
Active
Size
864 SF
Total Parking Spaces
1
Property subtype
Office
Amenities
Central Air
Building Details
Year Built
2006
Listing Agency:
Landmark Resources LLC
(803) 988-0097
Listed By:
Laura Nichols
Source:
Xome
Added: Aug 19
Changed: Aug 29
Last Checked: Aug 23 at 2:17AM
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 Landmark Resources LLC
Investment Insights
Based on property information with market context.
This live-work condominium combines residential and business functionality within an 864-square-foot space at 1520 Main Street, Suite 1-C. The property includes a reserved space in the parking garage and is positioned for an owner-occupant seeking to combine home and work in one location.
The condominium sits across from the Columbia Art Museum and near the Nickelodeon Theatre, South Carolina State Capitol, downtown dining, and the Soda City Market held each Saturday. Its Main Street setting places both the living space and business operation within Columbia’s central commercial environment.
The condominium sits across from the Columbia Art Museum and near the Nickelodeon Theatre, South Carolina State Capitol, downtown dining, and the Soda City Market held each Saturday. Its Main Street setting places both the living space and business operation within Columbia’s central commercial environment.
Key Highlights
- 864‑square‑foot live‑work condominium
- Reserved space in the parking garage
- Across from the Columbia Art Museum
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
$11,327
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
3.78%
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%
$226,540
$226.5K
Cap Rate 7%
$161,814
$161.8K
Cap Rate 9%
$125,856
$125.9K
Market Conditions
NOI Build-Up for 864 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
$19.7K $22.80/SF
− Vacancy
−$1.6K −$1.82/SF
EGI
$18.1K $20.98/SF
− OpEx
−$6.8K −$7.87/SF
NOI
$11.3K $13.11/SF
Area
Columbia, SC
Vacancy
8.00%
Lease Rate
$22.80 /SF/Yr
Expense Ratio
37.50%
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%
$226,540
Cap Rate 7%
$161,814
Cap Rate 9%
$125,856
Alternative Uses
Best Use
Mixed Use
$161.8K
$141.6K – $188.8K
NOI $11,327 @ 7.0% cap · market cap 3.78%
Second Best
Office B
$146.6K
$128.3K – $171.1K
NOI $10,264 @ 7.0% cap · market cap 3.42%
Theoretical Best
Office A
$212.8K
$186.2K – $248.2K
NOI $14,893 @ 7.0% cap · market cap 4.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,638
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?
Live-work space - Mixed-use condominium with an on-site reserved garage parking space in downtown Columbia.
Where is this live-work space located?
The property is located at 1520 Main Columbia, SC.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: 864‑square‑foot live‑work condominium; Reserved space in the parking garage; Across from the Columbia Art Museum
