Corner Flex Building With
For Sale
$650,000
2029 Platt Springs Road, West Columbia, SC 29169
COMMERCIAL/INDUSTRIAL, West Columbia, SC
Property Size3,142 SF
Lot Size0.36 Acres
Price / SF$206.87
Days on Market49
Property Features for 2029 Platt Springs Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C2
Parking
30
Directions
From Columbia: Gervais St west into West Columbia, continue onto Meeting St, left onto 12th St, then right onto Platt Springs Rd. Property is located at the signalized corner of Platt Springs Rd and Zeigler Rd. From Lexington: US-378 east toward West Columbia, right onto 12th, right on Platt Springs
Subdivision
Lexington and surrounding area
Standard status
Active
Size
3,142 SF
Lot size
0.36 Acres
Utilities
Cooling system
Central Air
Building Details
Floors in Building
1
Roof type
Shingle
Listing Agency:
Southern Visions Realty I LLC
(803) 359-9571
Listed By:
Angela Cash
(803) 359-9571
Added: Jul 6
Changed: Aug 23
Last Checked: Aug 23 at 5:06PM
MLS# 638003
Copyright © 2026 Consolidated MLS, SC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This flex property combines a front office and showroom with a separate heated metal shop. The approximately 3,142-square-foot building includes private offices, reception and work areas, two restrooms, and strong natural light. An overhead door serves the rear shop, while two HVAC units installed approximately five years ago provide cooling and heating. The property also includes an illuminated freestanding sign and extensive paved parking with space for vehicle display.
Positioned at the signalized intersection of Platt Springs Road and Zeigler Road in West Columbia, the site occupies approximately 0.36 acres with prominent corner exposure. Public water and sewer, along with natural gas, serve the property. C2 General Commercial zoning supports retail, office, service, and automotive uses.
Positioned at the signalized intersection of Platt Springs Road and Zeigler Road in West Columbia, the site occupies approximately 0.36 acres with prominent corner exposure. Public water and sewer, along with natural gas, serve the property. C2 General Commercial zoning supports retail, office, service, and automotive uses.
Key Highlights
- +/-3,142 SF flex building on +/-0.36 acres
- Signalized corner at Platt Springs Road and Zeigler Road
- Front office/showroom with separate rear heated metal shop
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
$42,129
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
6.48%
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%
$842,580
$842.6K
Cap Rate 7%
$601,843
$601.8K
Cap Rate 9%
$468,100
$468.1K
Market Conditions
NOI Build-Up for 3,142 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
$59.9K $19.08/SF
− Vacancy
−$3.8K −$1.20/SF
EGI
$56.2K $17.88/SF
− OpEx
−$14.0K −$4.47/SF
NOI
$42.1K $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%
$842,580
Cap Rate 7%
$601,843
Cap Rate 9%
$468,100
Alternative Uses
Best Use
Office B
$601.8K
$526.6K – $702.2K
NOI $42,129 @ 7.0% cap · market cap 6.48%
Second Best
Industrial
$277.6K
$242.9K – $323.9K
NOI $19,432 @ 7.0% cap · market cap 2.99%
Theoretical Best
Office A
$843.8K
$738.4K – $984.5K
NOI $59,069 @ 7.0% cap · market cap 9.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
396
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 29169, SC
22,768
Population
11,087
Households
2.1
Avg Household Size
40
Median Age
39%
College-Educated
89%
High-School Grad
11.6 sq mi
ZIP Area
1,963
Density / Sq Mi
$53,673
Median Household Income
$38,268
Median Earnings
$1,081
Median Rent
$189,900
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 - C2 zoning supports office, retail, service, and automotive uses.
Where is this flex space located?
The property is located at 2029 Platt Springs Road West Columbia, SC.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: +/-3,142 SF flex building on +/-0.36 acres; Signalized corner at Platt Springs Road and Zeigler Road; Front office/showroom with separate rear heated metal shop
