Renovated Multi-Tenant Commercial
For Sale
$250,000
3201 Broad River Road, Columbia, SC 29210
COMMERCIAL - Columbia, SC
Property Size1,138 SF
Lot Size0.50 Acres
Price / SF$219.68
Days on Market124
Property Features for 3201 Broad River Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
GC
Parking
15
Directions
I-26, exit St. Andrews Rd. towards Broad River Rd. Left on Broad River, property on Left next to transmission company.
Subdivision
Irmo/St Andrews/Ballentine
Standard status
Active
Size
1,138 SF
Lot size
0.50 Acres
Utilities
Cooling system
Central Air
Building Details
Floors in Building
1
Listing Agency:
iRealty International LLC
(803) 479-3351
Listed By:
April Glenn-James
(803) 479-4317
Added: Apr 23
Changed: Aug 4
Last Checked: Aug 24 at 4:06PM
MLS# 632343
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 renovated multi-tenant commercial property was completely renovated in 2014 and is currently configured to support multiple uses. The business space includes an operating aviation instructor academy in one suite and a medical spa in another, with a waiting and reception area and a retail area that includes two bathrooms. Interior features include large walk-in closets for storage and custom shelving, along with a break and conference room. The property is sold as-is, and business and equipment may be purchased with or without the property sale.
The site includes a huge parking area with 15 parking spaces and a roundabout driveway for access. It has approximately 75 feet of road frontage and is located with easy access to I-20 or I-26, about 8 minutes from downtown Columbia.
Zoned GC, the property is described as adaptable for a small retail business, medical office, salon, or boutique, depending on the operator’s needs.
The site includes a huge parking area with 15 parking spaces and a roundabout driveway for access. It has approximately 75 feet of road frontage and is located with easy access to I-20 or I-26, about 8 minutes from downtown Columbia.
Zoned GC, the property is described as adaptable for a small retail business, medical office, salon, or boutique, depending on the operator’s needs.
Key Highlights
- Completely renovated in 2014 and offers central air conditioning.
- Multi‑tenant setup with a 1,100 SF aviation instructor academy in the second suite.
- Second suite currently used as a medical spa with 2 chairs, waiting/reception area, and retail area.
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
$16,174
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
6.47%
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%
$323,480
$323.5K
Cap Rate 7%
$231,057
$231.1K
Cap Rate 9%
$179,711
$179.7K
Market Conditions
NOI Build-Up for 1,138 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
$24.6K $21.60/SF
− Vacancy
−$1.5K −$1.30/SF
EGI
$23.1K $20.30/SF
− OpEx
−$6.9K −$6.09/SF
NOI
$16.2K $14.21/SF
Area
Columbia, SC
Vacancy
6.00%
Lease Rate
$21.60 /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%
$323,480
Cap Rate 7%
$231,057
Cap Rate 9%
$179,711
Alternative Uses
Best Use
Retail
$231.1K
$202.2K – $269.6K
NOI $16,174 @ 7.0% cap · market cap 6.47%
Second Best
Healthcare Medical
$217.7K
$190.5K – $254.0K
NOI $15,240 @ 7.0% cap · market cap 6.10%
Theoretical Best
Office A
$280.2K
$245.2K – $326.9K
NOI $19,615 @ 7.0% cap · market cap 7.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
621
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 29210, SC
39,299
Population
19,592
Households
2
Avg Household Size
36
Median Age
30%
College-Educated
91%
High-School Grad
16.8 sq mi
ZIP Area
2,339
Density / Sq Mi
$50,258
Median Household Income
$32,240
Median Earnings
$1,076
Median Rent
$183,000
Median Home Value
Market
Vacancy Rate% for Office in Columbia, SC
Questions? Ask Rey
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Similar Off Market Nearby
- Belle Bodies — 920 St Andrews Rd, Columbia, SC 29210
Frequently Asked Questions
What type of property is this?
Spa & wellness property - Renovated in 2014 with multiple tenant suites, including a medical spa and aviation instruction academy.
Where is this spa & wellness property located?
The property is located at 3201 Broad River Road Columbia, SC.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Completely renovated in 2014 and offers central air conditioning.; Multi‑tenant setup with a 1,100 SF aviation instructor academy in the second suite.; Second suite currently used as a medical spa with 2 chairs, waiting/reception area, and retail area.
