Flex Space with Loading
For Sale
Contact for pricing
1573 & 1579 S Lake Drive, Lexington, SC 29073
Includes office, showroom, warehouse, and covered loading areas for a versatile commercial configuration.
Property Size3,000 SF
Lot Size3.61 Acres
Price / SF$283.33
Days on Market128
Property Features for 1573 & 1579 S Lake Drive
General Information
Standard status
Active
Size
3,000 SF
Lot size
3.61 Acres
Property subtype
Retail, Office, Industrial
Site & Location
Outdoor Storage
Yes
Utilities to Site
Yes
Warehouse & Industrial
Warehouse Space
1,000 SF
Office Build-Out
2,000 SF
Amenities
Security System
Listing Agency:
Wilson Kibler
Listed By:
William A. "Bill" Bunch · License #SC #4720
(803) 779-8600
Source:
Crexi
Added: May 8
Changed: Sep 10
Last Checked: Sep 12 at 7:36AM
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
Investment Insights
Based on property information with market context.
This flex property at 1573 S Lake Dr combines approximately 2,000 SF of office and showroom space with approximately 1,000 SF of warehouse area. The layout includes a covered loading dock, a security system, and city water service. The overall building area is approximately 3,000 SF.
The property encompasses approximately 3.61 AC, providing a substantial outdoor area that can accommodate storage or a lay-down yard. Its Lexington, SC 29073 location and combined office, showroom, and warehouse configuration offer a practical format for commercial operations requiring both finished space and warehouse capacity.
The property encompasses approximately 3.61 AC, providing a substantial outdoor area that can accommodate storage or a lay-down yard. Its Lexington, SC 29073 location and combined office, showroom, and warehouse configuration offer a practical format for commercial operations requiring both finished space and warehouse capacity.
Key Highlights
- Approximately ±3.61 AC
- Approximately ±2,000 SF of office/showroom space
- Approximately ±1,000 SF warehouse
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
$40,225
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
4.73%
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%
$804,500
$804.5K
Cap Rate 7%
$574,643
$574.6K
Cap Rate 9%
$446,944
$446.9K
Market Conditions
NOI Build-Up for 3,000 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
$57.2K $19.08/SF
− Vacancy
−$3.6K −$1.20/SF
EGI
$53.6K $17.88/SF
− OpEx
−$13.4K −$4.47/SF
NOI
$40.2K $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%
$804,500
Cap Rate 7%
$574,643
Cap Rate 9%
$446,944
Alternative Uses
Best Use
Office B
$574.6K
$502.8K – $670.4K
NOI $40,225 @ 7.0% cap · market cap 4.73%
Second Best
Warehouse
$321.9K
$281.6K – $375.5K
NOI $22,530 @ 7.0% cap · market cap 2.65%
Theoretical Best
Office A
$805.7K
$705.0K – $940.0K
NOI $56,400 @ 7.0% cap · market cap 6.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
46
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 29073, SC
48,653
Population
20,239
Households
2.4
Avg Household Size
37
Median Age
22%
College-Educated
89%
High-School Grad
81.8 sq mi
ZIP Area
595
Density / Sq Mi
$72,648
Median Household Income
$45,050
Median Earnings
$1,046
Median Rent
$198,100
Median Home Value
Check the figures for this property
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?
Flex space - Includes office, showroom, warehouse, and covered loading areas for a versatile commercial configuration.
Where is this flex space located?
The property is located at 1573 & 1579 S Lake Drive Lexington, SC.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Approximately ±3.61 AC; Approximately ±2,000 SF of office/showroom space; Approximately ±1,000 SF warehouse
