Flex Space with Loading
New
For Sale
Contact for pricing
1573 S Lake Dr, 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$301.67
Days on Market5
Property Features for 1573 S Lake Dr
General Information
Standard status
Active
Size
3,000 SF
Lot size
3.61 Acres
Property subtype
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 | Columbia
(803) 255-8609
Listed By:
William A. "Bill" Bunch · License ##4720
Source:
Moodyscre
Added: Aug 5
Changed: Aug 9
Last Checked: Aug 9 at 5:57PM
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 | Columbia
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
4.44%
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 4.44%
Second Best
Retail
$431.5K
$377.6K – $503.5K
NOI $30,208 @ 7.0% cap · market cap 3.34%
Theoretical Best
Office A
$805.7K
$705.0K – $940.0K
NOI $56,400 @ 7.0% cap · market cap 6.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
55
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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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 S Lake Dr Lexington, SC.
What is the asking price?
The asking price for this property is $905,000.
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
