Flex Space with
New
For Sale
$1,200,000
2240 Frink St, Cayce, SC 29033
Mixed office and warehouse improvements support a range of light industrial business operations.
Property Size8,681 SF
Lot Size0.83 Acres
Price / SF$246.76
Days on Market6
Property Features for 2240 Frink St
General Information
Standard status
Active
Size
8,681 SF
Class
B
Lot size
0.83 Acres
Property subtype
Office - General Office
Zoning
M-1 Light Industrial
Warehouse & Industrial
Warehouse Space
3,818 SF
Office Build-Out
4,863 SF
Building Details
Building Size
8,681 SF
Year Built
2008
Listing Agency:
Wilson Kibler
(803) 779-8600
Listed By:
Julian Wilson · License #57962
Source:
Commercialcafe
Added: Aug 25
Changed: Aug 29
Last Checked: Aug 30 at 1:11PM
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
Investment Insights
Based on property information with market context.
This flex property combines approximately 4,863 square feet of office area with approximately 3,818 square feet of warehouse space. The improvements were constructed in 2008 and are situated on approximately 0.83 acres, providing a blended office-industrial configuration within a single asset.
Located at 2240 Frink St in Cayce, South Carolina, the property is identified within the Cayce/West Columbia market and Lexington County. M-1 Light Industrial zoning supports its classification as a flex-oriented commercial property.
Located at 2240 Frink St in Cayce, South Carolina, the property is identified within the Cayce/West Columbia market and Lexington County. M-1 Light Industrial zoning supports its classification as a flex-oriented commercial property.
Key Highlights
- ±4,863 SF of office space
- ±3,818 SF warehouse area
- ±0.83 AC property
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
$65,205
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
5.43%
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%
$1,304,100
$1.3M
Cap Rate 7%
$931,500
$931.5K
Cap Rate 9%
$724,500
$724.5K
Market Conditions
NOI Build-Up for 4,863 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
$92.8K $19.08/SF
− Vacancy
−$5.8K −$1.20/SF
EGI
$86.9K $17.88/SF
− OpEx
−$21.7K −$4.47/SF
NOI
$65.2K $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%
$1,304,100
Cap Rate 7%
$931,500
Cap Rate 9%
$724,500
Alternative Uses
Best Use
Office B
$931.5K
$815.1K – $1.09M
NOI $65,205 @ 7.0% cap · market cap 5.43%
Second Best
Warehouse
$521.7K
$456.5K – $608.7K
NOI $36,521 @ 7.0% cap · market cap 3.04%
Theoretical Best
Office A
$1.31M
$1.14M – $1.52M
NOI $91,424 @ 7.0% cap · market cap 7.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
201
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 29033, SC
12,575
Population
6,873
Households
1.8
Avg Household Size
36
Median Age
31%
College-Educated
94%
High-School Grad
10.0 sq mi
ZIP Area
1,258
Density / Sq Mi
$57,524
Median Household Income
$37,629
Median Earnings
$1,342
Median Rent
$156,400
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Evelyn's Sweet Treats and Catering — 1832 Airport Blvd, Cayce, SC 29033
Frequently Asked Questions
What type of property is this?
Flex space - Mixed office and warehouse improvements support a range of light industrial business operations.
Where is this flex space located?
The property is located at 2240 Frink St Cayce, SC.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: ±4,863 SF of office space; ±3,818 SF warehouse area; ±0.83 AC property
