Professional Office
For Sale
Contact for pricing
262 Graces Way, Columbia, SC 29229
Office property near professional services, medical practices, retailers, and restaurants in Northeast Columbia.
Property Size6,463 SF
Price / SF$193.41
Days on Market15
Property Features for 262 Graces Way
General Information
Standard status
Active
Size
6,463 SF
Property subtype
Office
Occupancy
100%
Building Details
Buildings
1
Stories
2
Units
4
Tenancy
Multi
Listing Agency:
Colliers - Columbia, South Carolina
(803) 254-2300
Listed By:
Mary Winter Teaster · License #28525
Source:
Crexi
Added: Jul 29
Changed: Aug 11
Last Checked: Aug 11 at 10:57AM
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 Colliers - Columbia, South Carolina
Investment Insights
Based on property information with market context.
The property is a 6,463-square-foot office building at 262 Graces Way. Its surrounding setting includes professional and medical offices along with a mix of retail and restaurant businesses, creating an established commercial environment for office users.
The building is positioned just off Two Notch Road and Sparkleberry Lane in Northeast Columbia. Downtown Columbia is less than 30 minutes away, providing access to the area's central business district while maintaining a suburban office setting.
The building is positioned just off Two Notch Road and Sparkleberry Lane in Northeast Columbia. Downtown Columbia is less than 30 minutes away, providing access to the area's central business district while maintaining a suburban office setting.
Key Highlights
- 6,463‑square‑foot office building
- Located just off Two Notch Road and Sparkleberry Lane
- Surrounded by professional and medical offices
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
$76,780
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
6.14%
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%
$1,535,600
$1.5M
Cap Rate 7%
$1,096,857
$1.1M
Cap Rate 9%
$853,111
$853.1K
Market Conditions
NOI Build-Up for 6,463 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
$124.1K $19.20/SF
− Vacancy
−$21.7K −$3.36/SF
EGI
$102.4K $15.84/SF
− OpEx
−$25.6K −$3.96/SF
NOI
$76.8K $11.88/SF
Area
Columbia, SC
Vacancy
17.50%
Lease Rate
$19.20 /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%
$1,535,600
Cap Rate 7%
$1,096,857
Cap Rate 9%
$853,111
Alternative Uses
Best Use
Office B
$1.10M
$959.8K – $1.28M
NOI $76,780 @ 7.0% cap · market cap 6.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.59M
$1.39M – $1.86M
NOI $111,401 @ 7.0% cap · market cap 8.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
693
Businesses Nearby
Explore this area
Business Placement
Demographics for 29229, SC
51,548
Population
20,939
Households
2.5
Avg Household Size
36
Median Age
46%
College-Educated
94%
High-School Grad
18.3 sq mi
ZIP Area
2,817
Density / Sq Mi
$72,571
Median Household Income
$45,091
Median Earnings
$1,528
Median Rent
$230,800
Median Home Value
Market
Vacancy Rate% for Office in Columbia, SC
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Office property near professional services, medical practices, retailers, and restaurants in Northeast Columbia.
Where is this office building located?
The property is located at 262 Graces Way Columbia, SC.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 6,463‑square‑foot office building; Located just off Two Notch Road and Sparkleberry Lane; Surrounded by professional and medical offices
