Restaurant Building with
407 North Lake Drive, Lexington, SC 29072
For Sale
$925,000
COMMERCIAL/INDUSTRIAL, Lexington, SC
Property Size2,400 SF
Price / SF$385.42
Days on Market50
Property Features for 407 North Lake Drive
General Information
Property type
Property subtype
Zoning
Parking
Directions
Subdivision
Standard status
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# 643443
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.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This freestanding restaurant building contains 2,400 square feet and is occupied by an established tenant. Central air conditioning serves the property, which carries RA zoning.
The building is located at 407 North Lake Drive in Lexington, South Carolina. Its restaurant use, existing tenancy, and location on North Lake Drive define the property’s current commercial profile.
The building is located at 407 North Lake Drive in Lexington, South Carolina. Its restaurant use, existing tenancy, and location on North Lake Drive define the property’s current commercial profile.
Key Highlights
- 2,400‑square‑foot freestanding restaurant building
- Established tenant in place
- Central air conditioning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,593
Cap Rate
3.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$691,860
$691.9K
Cap Rate 7%
$494,186
$494.2K
Cap Rate 9%
$384,367
$384.4K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$48.1K $20.04/SF
− Vacancy
−$2.0K −$0.82/SF
EGI
$46.1K $19.22/SF
− OpEx
−$11.5K −$4.80/SF
NOI
$34.6K $14.41/SF
Area
Lexington County, SC
Vacancy
4.10%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$691,860
Cap Rate 7%
$494,186
Cap Rate 9%
$384,367
Alternative Uses
Best Use
Specialty Retail
$494.2K
$432.4K – $576.6K
NOI $34,593 @ 7.0% cap · market cap 3.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$644.6K
$564.0K – $752.0K
NOI $45,120 @ 7.0% cap · market cap 4.88%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,204
Businesses Nearby
Under-served
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - A continuing tenant occupies this standalone restaurant property along North Lake Drive.
Where is this conventional restaurant located?
The property is located at 407 North Lake Drive Lexington, SC.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: 2,400‑square‑foot freestanding restaurant building; Established tenant in place; Central air conditioning
