Freestanding Office
403 North Lake Drive, Lexington, SC 29072
For Sale
$645,000
COMMERCIAL/INDUSTRIAL, Lexington, SC
Property Size2,872 SF
Lot Size0.42 Acres
Price / SF$224.58
Days on Market50
Property Features for 403 North Lake Drive
General Information
Property type
Property subtype
Zoning
Parking
Directions
Subdivision
Standard status
Size
Lot size
Utilities
Cooling system
Building Details
Floors in Building
Listing Agency:
Experienced Real Est Group LLC
Listed By:
Dennis Kelso
(803) 730-5800
Added: Sep 21
Changed: Oct 2
Last Checked: Nov 9 at 4:06AM
MLS# 643446
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.
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Investment Insights
Based on property information with market context.
This freestanding professional office building contains 2,872 square feet on a 0.422-acre parcel. Central air conditioning serves the building, and a long-term tenant is currently in place. The property is zoned LC for commercial use.
Located on North Lake Drive in downtown Lexington, the site offers road frontage along a high-traffic corridor. Main Street and major commuter routes are only minutes away, providing convenient access within the Lexington market. The Lexington, SC property is identified by the address 403 North Lake Drive, Lexington, SC 29072.
Located on North Lake Drive in downtown Lexington, the site offers road frontage along a high-traffic corridor. Main Street and major commuter routes are only minutes away, providing convenient access within the Lexington market. The Lexington, SC property is identified by the address 403 North Lake Drive, Lexington, SC 29072.
Key Highlights
- 2,872‑square‑foot freestanding professional office building
- 0.422‑acre parcel with frontage on North Lake Drive
- Long‑term tenant currently in place
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,509
Cap Rate
5.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$770,180
$770.2K
Cap Rate 7%
$550,129
$550.1K
Cap Rate 9%
$427,878
$427.9K
Market Conditions
NOI Build-Up for 2,872 SF
Gross rent
$54.8K $19.08/SF
− Vacancy
−$3.5K −$1.20/SF
EGI
$51.3K $17.88/SF
− OpEx
−$12.8K −$4.47/SF
NOI
$38.5K $13.41/SF
Area
Lexington County, SC
Vacancy
6.30%
Lease Rate
$19.08 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$770,180
Cap Rate 7%
$550,129
Cap Rate 9%
$427,878
Alternative Uses
Best Use
Office B
$550.1K
$481.4K – $641.8K
NOI $38,509 @ 7.0% cap · market cap 5.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$771.3K
$674.9K – $899.9K
NOI $53,994 @ 7.0% cap · market cap 8.37%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,204
Businesses Nearby
Explore this area
Business Placement
Demographics for 29072, SC
65,060
Population
26,951
Households
2.4
Avg Household Size
39
Median Age
48%
College-Educated
96%
High-School Grad
68.0 sq mi
ZIP Area
957
Density / Sq Mi
$103,415
Median Household Income
$55,500
Median Earnings
$1,317
Median Rent
$304,200
Median Home Value
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Market
Average Price Trend$/SF for Office buildings in Lexington County, SC
Properties on Market for Office buildings in Lexington County
Vacancy Rate% for Office in South region
Frequently Asked Questions
What type of property is this?
Office building - Professional office property with a long-term tenant and central air conditioning.
Where is this office building located?
The property is located at 403 North Lake Drive Lexington, SC.
What is the asking price?
The asking price for this property is $645,000.
What are key features of this property?
This property features: 2,872‑square‑foot freestanding professional office building; 0.422‑acre parcel with frontage on North Lake Drive; Long‑term tenant currently in place
