Leased Office Condo with Lake
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For Sale
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1836 N Lake Dr, Lexington, SC 29072
Fully leased corner office condo with Lake Murray views and abundant natural light.
Property Size2,029 SF
Price / SF$254.75
Days on Market7
Property Features for 1836 N Lake Dr
General Information
Standard status
Active
Size
2,029 SF
Property subtype
OFFICE
Occupancy
100%
Building Details
Tenancy
Single
Listing Agency:
ERA Wilder Realty Inc. - Columbia
(803) 312-1908
Listed By:
David Brock · License #58004
Source:
Moodyscre
Added: Aug 5
Changed: Aug 9
Last Checked: Aug 11 at 7:31AM
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 ERA Wilder Realty Inc. - Columbia
Investment Insights
Based on property information with market context.
This 2,029-square-foot office condo is fully leased to a national tenant and offered for sale as an income-producing office asset. The corner configuration brings substantial natural light into the space, while views of Lake Murray add a distinctive setting. Interior improvements include high-end finishes.
The property is located at 1836 N Lake Dr in Lexington, between Irmo and Lexington. Its office configuration, existing lease status, lake views, and finished interior make it a clearly defined commercial property for consideration by office investors.
The property is located at 1836 N Lake Dr in Lexington, between Irmo and Lexington. Its office configuration, existing lease status, lake views, and finished interior make it a clearly defined commercial property for consideration by office investors.
Key Highlights
- Fully leased office condo with a national tenant
- 2,029 square feet of office space
- Corner position provides abundant natural light
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
$27,206
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
5.26%
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%
$544,120
$544.1K
Cap Rate 7%
$388,657
$388.7K
Cap Rate 9%
$302,289
$302.3K
Market Conditions
NOI Build-Up for 2,029 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
$38.7K $19.08/SF
− Vacancy
−$2.4K −$1.20/SF
EGI
$36.3K $17.88/SF
− OpEx
−$9.1K −$4.47/SF
NOI
$27.2K $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%
$544,120
Cap Rate 7%
$388,657
Cap Rate 9%
$302,289
Alternative Uses
Best Use
Office B
$388.7K
$340.1K – $453.4K
NOI $27,206 @ 7.0% cap · market cap 5.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$544.9K
$476.8K – $635.8K
NOI $38,145 @ 7.0% cap · market cap 7.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
845
Businesses Nearby
Explore this area
Business Placement
Demographics for 29072, SC
65,060
Population
26,951
Households
2.4
Avg Household Size
39
Median Age
48%
College-Educated
96%
High-School Grad
68.0 sq mi
ZIP Area
957
Density / Sq Mi
$103,415
Median Household Income
$55,500
Median Earnings
$1,317
Median Rent
$304,200
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?
Office units - Fully leased corner office condo with Lake Murray views and abundant natural light.
Where is this office units located?
The property is located at 1836 N Lake Dr Lexington, SC.
What is the asking price?
The asking price for this property is $516,880.
What are key features of this property?
This property features: Fully leased office condo with a national tenant; 2,029 square feet of office space; Corner position provides abundant natural light
