Flex Space with Loading
For Sale
Contact for pricing
3038 McNaughton Drive, Columbia, SC 29223
General Commercial-zoned flex property combining office, storage, parking, and loading functionality.
Property Size4,200 SF
Price / SF$166.67
Days on Market96
Property Features for 3038 McNaughton Drive
General Information
Standard status
Active
Size
4,200 SF
Total Parking Spaces
15
Property subtype
Office, Industrial
Zoning
General Commercial
Lease Type
NNN
Site & Location
Highway Access
Yes
Road Access
Yes
Warehouse & Industrial
Warehouse Space
2,484 SF
Office Build-Out
1,716 SF
Dock-High Doors
1
Drive-In Doors
1
Additional Details
Asking Price
$700,000
Amenities
surface level roll up door
well loading dock
Building Details
Units
15
Listing Agency:
NAI Columbia
(803) 254-0100
Listed By:
Bobby Balboni · License #SC 113453
Source:
Crexi
Added: May 27
Changed: Aug 29
Last Checked: Aug 29 at 1:44PM
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 NAI Columbia
Investment Insights
Based on property information with market context.
This flex property offers ± 4,200 SF overall, including ± 1,716 of office space and ± 2,484 SF of storage. The building includes a surface-level roll-up door, a well loading dock, and 15 parking spaces, supporting a combination of administrative and operational functions. General Commercial zoning applies.
Located at 3038 McNaughton Drive in Columbia, the property sits off Trenholm Road Extension with access to I-20 and I-77. The asset is offered for sale or lease.
Located at 3038 McNaughton Drive in Columbia, the property sits off Trenholm Road Extension with access to I-20 and I-77. The asset is offered for sale or lease.
Key Highlights
- ± 4,200 of flex space with office and storage components
- ± 2,484 SF of storage area
- ± 1,716 of office space
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
$62,268
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
8.90%
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%
$1,245,360
$1.2M
Cap Rate 7%
$889,543
$889.5K
Cap Rate 9%
$691,867
$691.9K
Market Conditions
NOI Build-Up for 4,200 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
$77.1K $18.36/SF
− Vacancy
−$3.9K −$0.92/SF
EGI
$73.3K $17.44/SF
− OpEx
−$11.0K −$2.62/SF
NOI
$62.3K $14.83/SF
Area
Columbia, SC
Vacancy
5.00%
Lease Rate
$18.36 /SF/Yr
Expense Ratio
15.00%
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%
$1,245,360
Cap Rate 7%
$889,543
Cap Rate 9%
$691,867
Alternative Uses
Best Use
Warehouse
$889.5K
$778.4K – $1.04M
NOI $62,268 @ 7.0% cap · market cap 8.90%
Second Best
Flex RnD
$743.9K
$650.9K – $867.9K
NOI $52,072 @ 7.0% cap · market cap 7.44%
Theoretical Best
Office A
$1.03M
$904.9K – $1.21M
NOI $72,395 @ 7.0% cap · market cap 10.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Dock-high doors
1
Drive-in doors
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
560
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 29223, SC
52,477
Population
24,142
Households
2.2
Avg Household Size
39
Median Age
36%
College-Educated
90%
High-School Grad
25.3 sq mi
ZIP Area
2,074
Density / Sq Mi
$56,300
Median Household Income
$37,435
Median Earnings
$1,217
Median Rent
$183,800
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?
Flex space - General Commercial-zoned flex property combining office, storage, parking, and loading functionality.
Where is this flex space located?
The property is located at 3038 McNaughton Drive Columbia, SC.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: ± 4,200 of flex space with office and storage components; ± 2,484 SF of storage area; ± 1,716 of office space
