Automotive Property with
For Sale
$395,000
2328 Airport Blvd, West Columbia, SC
Occupied automotive facility with existing signage, a new heat unit, and completed engineering for potential car wash conversion.
Property Size1,085 SF
Price / SF$364.06
Days on Market94
Property Features for 2328 Airport Blvd
General Information
Standard status
Active
Size
1,085 SF
Site & Location
Highway Access
Yes
Road Access
Yes
Amenities
small billboard
signage
new heat unit
Building Details
Buildings
1
Listing Agency:
AAORP Realty
(803) 200-2001
Listed By:
Scott McCulla
Source:
Exprealty
Added: May 15
Changed: Aug 16
Last Checked: Aug 16 at 7:15AM
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 AAORP Realty
Investment Insights
Based on property information with market context.
This automotive property at 2328 Airport Blvd in West Columbia is currently occupied by an established car dealership, with the business able to remain if desired. The building is sold as is and includes a new heat unit, a small billboard, and additional signage. Full engineering has been completed for conversion to a modern car wash, supporting another automotive-oriented use or future redevelopment.
The site fronts a heavily traveled commercial corridor with DOT-estimated traffic of 30-40,000 people per day from throughout the Midlands area. It is next to Airport HS and near Midlands Technical College, state office complexes, Columbia Metropolitan Airport, and I-26. A new three-story hotel is under construction directly across from the property, adding an active development element to the surrounding commercial setting.
The site fronts a heavily traveled commercial corridor with DOT-estimated traffic of 30-40,000 people per day from throughout the Midlands area. It is next to Airport HS and near Midlands Technical College, state office complexes, Columbia Metropolitan Airport, and I-26. A new three-story hotel is under construction directly across from the property, adding an active development element to the surrounding commercial setting.
Key Highlights
- DOT‑estimated traffic of 30‑40,000 people per day
- Currently occupied by an established car dealership
- Full engineering completed for modern car wash conversion
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
$15,639
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
3.96%
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%
$312,780
$312.8K
Cap Rate 7%
$223,414
$223.4K
Cap Rate 9%
$173,767
$173.8K
Market Conditions
NOI Build-Up for 1,085 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
$21.7K $20.04/SF
− Vacancy
−$891 −$0.82/SF
EGI
$20.9K $19.22/SF
− OpEx
−$5.2K −$4.80/SF
NOI
$15.6K $14.41/SF
Area
Lexington County, SC
Vacancy
4.10%
Lease Rate
$20.04 /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%
$312,780
Cap Rate 7%
$223,414
Cap Rate 9%
$173,767
Alternative Uses
Best Use
Specialty Retail
$223.4K
$195.5K – $260.7K
NOI $15,639 @ 7.0% cap · market cap 3.96%
Second Best
Retail
$156.1K
$136.6K – $182.1K
NOI $10,925 @ 7.0% cap · market cap 2.77%
Theoretical Best
Office A
$291.4K
$255.0K – $340.0K
NOI $20,398 @ 7.0% cap · market cap 5.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
566
Businesses Nearby
130k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 33%
Groceries 32%
Shops & Services 27%
Apparel 8%
Walmart Neighborhood Market
Groceries
41,256 visits/mo
0.4 miles
McDonald's
Dining
21,388 visits/mo
0.4 miles
Dollar Tree
Shops & Services
12,166 visits/mo
0.5 miles
Arby's
Dining
10,975 visits/mo
0.4 miles
Jo-Ann Fabric and Craft
Shops & Services
9,803 visits/mo
0.5 miles
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Automotive property - Occupied automotive facility with existing signage, a new heat unit, and completed engineering for potential car wash conversion.
Where is this automotive property located?
The property is located at 2328 Airport Blvd West Columbia, SC.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: DOT‑estimated traffic of 30‑40,000 people per day; Currently occupied by an established car dealership; Full engineering completed for modern car wash conversion
