Office/Warehouse Space on Lake
For Sale
Contact for pricing
1682 Lake Murray Boulevard, Columbia, SC 29212
Functional office and warehouse space with convenient access to amenities.
Property Size5,384 SF
Lot Size1.05 Acres
Price / SF$182.95
Days on Market100
Property Features for 1682 Lake Murray Boulevard
General Information
Standard status
Active
Size
5,384 SF
Lot size
1.05 Acres
Property subtype
Office, Industrial, Mixed Use
Zoning
C1
Building Details
Year Built
1999
Listing Agency:
NAI Columbia
Listed By:
Bill Lamar · License #16906
Source:
Crexi
Added: May 21
Changed: Aug 23
Last Checked: Aug 26 at 2:10PM
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 NAI Columbia
Investment Insights
Based on property information with market context.
Located along Lake Murray Boulevard, this property offers a functional office and warehouse opportunity with access to I-26, Harbison Boulevard, and the Columbia market. The property is suited for industrial, service, distribution, showroom, or contractor businesses seeking a central location. The property features a 1.05-acre site with 2,906 square feet of office space, including 832 square feet of unfinished second-floor office space with a new HVAC system, and 2,478 square feet of warehouse space. The office area includes five offices, two bathrooms, a reception area, and a breakroom. There are 14 parking spaces available. The warehouse includes a 675-square-foot fully enclosed storage mezzanine. Additionally, there is a fully fenced laydown storage yard in the rear with two storage sheds. The site provides a combination of office and warehouse space, parking, and loading capabilities. Nearby amenities include restaurants, retail centers, banking, and service providers. Lake Murray and downtown Columbia are within a short drive. Traffic counts are approximately 17,000 AADT on Lake Murray Boulevard & Weed Drive and approximately 92,200 AADT on I-26 (approximately 2 miles from the property). Driving distances are approximately 2 miles to I-26 and approximately 7 miles to I-20.
Key Highlights
- Strategic location on Lake Murray Boulevard with high traffic counts and convenient access to I‑26, Harbison Boulevard, and Columbia.
- Flexible office/warehouse space totaling ±5,384 SF, suitable for various uses.
- Includes ±2,906 SF of office space and ±2,478 SF of warehouse space with a ±675 SF enclosed storage mezzanine.
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
$79,822
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
8.10%
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%
$1,596,440
$1.6M
Cap Rate 7%
$1,140,314
$1.1M
Cap Rate 9%
$886,911
$886.9K
Market Conditions
NOI Build-Up for 5,384 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
$98.9K $18.36/SF
− Vacancy
−$4.9K −$0.92/SF
EGI
$93.9K $17.44/SF
− OpEx
−$14.1K −$2.62/SF
NOI
$79.8K $14.83/SF
Area
Columbia, SC
Vacancy
5.00%
Lease Rate
$18.36 /SF/Yr
Expense Ratio
15.00%
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%
$1,596,440
Cap Rate 7%
$1,140,314
Cap Rate 9%
$886,911
Alternative Uses
Best Use
Warehouse
$1.14M
$997.8K – $1.33M
NOI $79,822 @ 7.0% cap · market cap 8.10%
Second Best
Mixed Use
$1.01M
$882.3K – $1.18M
NOI $70,584 @ 7.0% cap · market cap 7.17%
Theoretical Best
Office A
$1.33M
$1.16M – $1.55M
NOI $92,803 @ 7.0% cap · market cap 9.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
257
Businesses Nearby
Explore this area
Business Placement
Demographics for 29212, SC
29,739
Population
13,374
Households
2.2
Avg Household Size
43
Median Age
46%
College-Educated
94%
High-School Grad
21.4 sq mi
ZIP Area
1,390
Density / Sq Mi
$74,652
Median Household Income
$45,221
Median Earnings
$1,359
Median Rent
$222,200
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?
Mixed-use property - Functional office and warehouse space with convenient access to amenities.
Where is this mixed-use property located?
The property is located at 1682 Lake Murray Boulevard Columbia, SC.
What is the asking price?
The asking price for this property is $985,000.
What are key features of this property?
This property features: Strategic location on Lake Murray Boulevard with high traffic counts and convenient access to I‑26, Harbison Boulevard, and Columbia.; Flexible office/warehouse space totaling ±5,384 SF, suitable for various uses.; Includes ±2,906 SF of office space and ±2,478 SF of warehouse space with a ±675 SF enclosed storage mezzanine.
