Commercial Land with Gutted
New
For Sale
$129,000
2805 LEAPHART Road, West Columbia, SC 29169
COMMERCIAL/INDUSTRIAL, West Columbia, SC
Property Size806 SF
Lot Size0.28 Acres
Price / SF$160.05
Days on Market3
Property Features for 2805 LEAPHART Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
ID
Parking
2
Directions
HIGHWAY 1 TO LEAPHART RD.
Subdivision
Cayce/West Cola/Airport/S. Congaree
Standard status
Active
Size
806 SF
Lot size
0.28 Acres
Building Details
Floors in Building
1
Listing Agency:
Keller Williams Preferred · Keller Williams Realty
Listed By:
Nicole Stallworth
(803) 602-6500
Added: Sep 6
Changed: Sep 8
Last Checked: Sep 8 at 2:06PM
MLS# 642504
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 0.28-acre commercial land parcel includes an 806-square-foot building at 2805 Leaphart Road in West Columbia, SC. The interior has been fully gutted, leaving the structure cleared for renovation, layout changes, and new finishes based on the next owner's plans.
The property is zoned ID and is being sold as-is. Any proposed commercial use, building requirements, utilities, permits, and renovation scope should be evaluated through buyer due diligence. The site provides an existing building footprint and land component for a commercial redevelopment project in Lexington County.
The property is zoned ID and is being sold as-is. Any proposed commercial use, building requirements, utilities, permits, and renovation scope should be evaluated through buyer due diligence. The site provides an existing building footprint and land component for a commercial redevelopment project in Lexington County.
Key Highlights
- 0.28‑acre commercial land parcel
- 806‑square‑foot existing building
- Fully gutted interior cleared for renovation
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
$8,116
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
6.29%
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%
$162,320
$162.3K
Cap Rate 7%
$115,943
$115.9K
Cap Rate 9%
$90,178
$90.2K
Market Conditions
NOI Build-Up for 806 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
$12.1K $15.00/SF
− Vacancy
−$496 −$0.61/SF
EGI
$11.6K $14.39/SF
− OpEx
−$3.5K −$4.32/SF
NOI
$8.1K $10.07/SF
Area
Lexington County, SC
Vacancy
4.10%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$162,320
Cap Rate 7%
$115,943
Cap Rate 9%
$90,178
Alternative Uses
Best Use
Retail
$115.9K
$101.5K – $135.3K
NOI $8,116 @ 7.0% cap · market cap 6.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$216.5K
$189.4K – $252.6K
NOI $15,153 @ 7.0% cap · market cap 11.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
230
Businesses Nearby
2k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Home Improvements & Furnishings 100%
Rockler Woodworking & Hardware
Home Improvements & Furnishings
1,268 visits/mo
0.4 miles
Ferguson
Home Improvements & Furnishings
512 visits/mo
0.5 miles
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 Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Commercial land - ID-zoned commercial land includes a fully gutted building requiring renovation.
Where is this commercial land located?
The property is located at 2805 LEAPHART Road West Columbia, SC.
What is the asking price?
The asking price for this property is $129,000.
What are key features of this property?
This property features: 0.28‑acre commercial land parcel; 806‑square‑foot existing building; Fully gutted interior cleared for renovation
