Freestanding Retail
For Sale
Contact for pricing
305 Veterans Road, Columbia, SC 29209
C-2-zoned commercial building with on-site parking and proximity to established retail destinations.
Property Size2,600 SF
Price / SF$134.42
Days on Market14
Property Features for 305 Veterans Road
General Information
Standard status
Active
Size
2,600 SF
Total Parking Spaces
14
Property subtype
Retail, Office
Zoning
C-2
Investment Type
Owner/User
Additional Details
Highway Access
Yes
Building Details
Year Built
1955
Year Renovated
2025
Buildings
1
Building Size
2,600 SF
Listing Agency:
NAI Columbia
Listed By:
Noah Moore · License #SC 131726
Source:
Crexi
Added: Jul 30
Changed: Aug 9
Last Checked: Aug 11 at 10:40AM
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 freestanding retail building contains approximately 2,600 SF and was constructed in 1955. The property formerly operated as a daycare facility and includes 14 on-site parking spaces, providing a flexible existing structure for retail or office use.
The property is located at 305 Veterans Road in Columbia, South Carolina, approximately 0.25 miles from Interstate 77, which carries 90,200 VPD, and approximately 0.2 miles from Garners Ferry Road. It is positioned within an established retail corridor near the Target-anchored Woodhill Estates shopping center and Landmark Square, with Downtown Columbia accessible from the property. The University of South Carolina School of Medicine is less than 1 mile away.
The property is located at 305 Veterans Road in Columbia, South Carolina, approximately 0.25 miles from Interstate 77, which carries 90,200 VPD, and approximately 0.2 miles from Garners Ferry Road. It is positioned within an established retail corridor near the Target-anchored Woodhill Estates shopping center and Landmark Square, with Downtown Columbia accessible from the property. The University of South Carolina School of Medicine is less than 1 mile away.
Key Highlights
- Approximately 2,600 SF freestanding retail/office building
- C‑2 zoning
- 14 on‑site parking spaces
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
$30,888
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
8.84%
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%
$617,760
$617.8K
Cap Rate 7%
$441,257
$441.3K
Cap Rate 9%
$343,200
$343.2K
Market Conditions
NOI Build-Up for 2,600 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
$49.9K $19.20/SF
− Vacancy
−$8.7K −$3.36/SF
EGI
$41.2K $15.84/SF
− OpEx
−$10.3K −$3.96/SF
NOI
$30.9K $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%
$617,760
Cap Rate 7%
$441,257
Cap Rate 9%
$343,200
Alternative Uses
Best Use
Retail
$527.9K
$461.9K – $615.9K
NOI $36,953 @ 7.0% cap · market cap 10.57%
Second Best
Office B
$441.3K
$386.1K – $514.8K
NOI $30,888 @ 7.0% cap · market cap 8.84%
Theoretical Best
Office A
$640.2K
$560.2K – $746.9K
NOI $44,816 @ 7.0% cap · market cap 12.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
164
Businesses Nearby
Explore this area
Business Placement
Demographics for 29209, SC
35,738
Population
16,520
Households
2.2
Avg Household Size
37
Median Age
39%
College-Educated
93%
High-School Grad
52.8 sq mi
ZIP Area
677
Density / Sq Mi
$58,854
Median Household Income
$38,756
Median Earnings
$1,252
Median Rent
$183,200
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?
Retail space - C-2-zoned commercial building with on-site parking and proximity to established retail destinations.
Where is this retail space located?
The property is located at 305 Veterans Road Columbia, SC.
What is the asking price?
The asking price for this property is $349,500.
What are key features of this property?
This property features: Approximately 2,600 SF freestanding retail/office building; C‑2 zoning; 14 on‑site parking spaces
