Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1979 S Lake Dr Lexington, SC 29073

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    4.18 acre commercial development site with road frontage.

    Type:Land
    Lot size:
    4.18 Acres
    Added:
    Jul 20, 2021
    Days on Market:
    1736
    Last Refresh:
    Mar 17 at 1:14 pm

    Property Features for 1979 S Lake Dr

    General Information

    Standard status
    Active
    Lot size
    4.18 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    W. Rhett Kelly

    Listing agent W. Rhett Kelly License #SC 86844

    Listing office Southern Visions Real Estate

    Listing date Jul 20, 2021

    Source Crexi

    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 Southern Visions Real Estate

    Overview

    Commercial Land on S Lake

    This property features approximately 4.18 acres of commercial land suitable for development. It offers approximately 355 feet of road frontage on S Lake Dr. Water and sewer services are available. According to a 2020 SCDOT study, the location experiences approximately 15,400 vehicles per day. An adjacent parcel of approximately 9.04 acres is also available.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lexington
    County
    Lexington
    State
    South Carolina
    Longitude
    -81.220361
    Latitude
    33.9035007

    Nearby Similar for Sale

    • $675,000
      5,400 SF

      Lexington Commercial Property For Sale

      Mixed-use property with restaurant and office/warehouse space in Lexington.
      4350 & 4352 Augusta Road, Lexington, SC 29073
      View Details
    • $385,000
      1,678 SF

      Professional Office Building in Lexington

      Well-located office building in Lexington, SC, near major roadways.
      109A Vista Oaks, Lexington, SC 29072
      View Details
    • $359,000
      3,400 SF

      Lexington Commercial Property For Sale

      3,400 SF commercial building suitable for childcare or community uses.
      109 Lisa Drive, Lexington, SC 29073
      View Details
    • $2,700,000
      2,988 SF

      Undeveloped Parcel in Growing Corridor

      Prime 7.69-acre parcel in Lexington's commercial corridor.
      150 Charter Oak Road, Lexington, SC 29072
      View Details
    • $345,000

      Prime Development Land in Lexington

      4-acre assemblage in Red Bank area with high visibility.
      5017 & 5025 Platt Springs Road, Lexington, SC 29073
      View Details
    • $300,000

      Versatile Fenced Lot in Lexington

      1.84-acre lot suitable for commercial or residential use.
      1164 Two Notch Road, Lexington, SC 29073
      View Details
    • $550,000
      2,272 SF

      Lexington Commercial Land Opportunity

      Prime commercial land in Lexington, SC, near major thoroughfares.
      120 Old Chapin Road, Lexington, SC 29072
      View Details
    • $499,999

      Lexington Commercial Land For Sale

      Two adjacent vacant lots totaling approximately 3.10 acres.
      6329 & 6317 Edmund Highway, Lexington, SC 29073
      View Details
    • $1,150,000
      8,640 SF

      Fully Leased Commercial Investment Property

      High-visibility Lexington office building with strong tenant occupancy and income streams.
      4265 Augusta Road, Lexington, SC 29073
      View Details
    • $689,000
      1,850 SF

      Prime Commercial Land Opportunity

      Almost 4 acres with high visibility and dual frontage.
      1000 Two Notch Road, Lexington, SC 29073
      View Details
    • $450,000

      Versatile Commercial Acreage on Augusta Highway

      11.5 acres of commercial land with frontage and access.
      1707 Augusta Highway, Lexington, SC 29072
      View Details
    • $425,000
      1,600 SF

      Commercial Land Near Downtown Lexington

      Commercial opportunity near downtown Lexington, suited for office or service.
      108 N Lake Drive, Lexington, SC 29072
      View Details

    FAQs

    What type of property is this?
    Commercial land - 4.18 acre commercial development site with road frontage.
    Where is this commercial land located?
    The property is located at 1979 S Lake Dr Lexington, SC.
    What is the asking price?
    The asking price for this property is $1,300,000.
    What are key features of this property?
    This property features: Prime commercial development site on 4.18 acres.; High traffic volume: 15,400 VPD.; **355 ft of road frontage on S Lake Dr.**
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    W. Rhett Kelly
    Real Estate License ID: SC 86844
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!