262 Graces Way, Columbia, SC 29229

Building Details

Buildings 1 More

Stories 2 More

Units 4 More

Tenancy Multi More

Listing Agency: Colliers - Columbia, South Carolina

Listed By: Mary Winter Teaster · License SC #28525 Show Phone

Source: Crexi

Added: Jul 29 Changed: Nov 8 Last Checked: Nov 8 at 6:35AM

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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

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Review the available facts, identify missing information and prepare questions for the agent.

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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.

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 / Yr

$76,780

Cap Rate

6.14%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,535,600 $1.5M

Cap Rate 7%

$1,096,857 $1.1M

Cap Rate 9%

$853,111 $853.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 6,463 SF

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 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 (±1% cap)

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 (±1% cap)

NOI $111,401 @ 7.0% cap · market cap 8.91%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

The Great Escape Arcade & Gaming Center Modish Salon Boutique Hair Salon

Suggested Use

Top Pick Law Firm Parking Lot & Garage Electrical Service Building Supply Auto Repair Shop Hotel & Motel

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

Average Price Trend$/SF for Office buildings in Columbia, SC

$164 Jul

$180 Aug

$207 Sep

$195 Oct

Properties on Market for Office buildings in Columbia

Jul

Aug

Sep

Oct

Vacancy Rate% for Office in Columbia, SC

18.6% 2020

11.6% 2021

9.7% 2022

7.4% 2023

7.9% 2024

7.9% 2025

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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