Flex Space with Multiple
New
For Sale
$2,100,000
4886 Sunset Boulevard, Lexington, SC 29072
Two-building commercial property offers leased and vacant sections with separate restrooms and rear storage.
Property Size12,000 SF
Price / SF$175
Days on Market6
Property Features for 4886 Sunset Boulevard
General Information
Standard status
Active
Size
12,000 SF
Property subtype
Commercial
Additional Details
Utilities to Site
Yes
Amenities
1.83 acres, Lot size: 185 x 461 x 156 x 562
Septic
Heat Pump
Listed on 2026-08-27
20 parking spaces
12,000 gross square footage, Built in 2001, Construction: Metal
County: Lexington, Geo Latitude: 34.011233, Geo Longitude: -81.187083
Zoning: ID
Public
Building Details
Building Size
12,000 SF
Buildings
2
Listing Agency:
Ronnie Wingard Real Estate
(803) 359-6191
Listed By:
Ronnie Wingard
Source:
Blackstreaminternational
Added: Aug 27
Changed: Aug 31
Last Checked: Aug 31 at 2:08PM
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 Ronnie Wingard Real Estate
Investment Insights
Based on property information with market context.
Located at 4886 Sunset Boulevard in Lexington, the property includes two commercial buildings totaling 15,500 square feet based on the stated building dimensions. The larger building contains three sections: an 850-square-foot area and a 2,000-square-foot area are currently leased, while the 9,000-square-foot section is vacant. The second building contains 3,500 square feet and is currently leased.
Each section has its own restroom, with four restrooms serving the 9,000-square-foot area. That section also includes additional rear storage. The property is served by public water and a septic tank, and Sunset Boulevard carries an approximate traffic count of 45,000 cars daily.
Each section has its own restroom, with four restrooms serving the 9,000-square-foot area. That section also includes additional rear storage. The property is served by public water and a septic tank, and Sunset Boulevard carries an approximate traffic count of 45,000 cars daily.
Key Highlights
- Two‑building property with stated building sizes of 12,000 SF and 3,500 SF
- 12,000‑square‑foot building divided into 850 SF, 2,000 SF, and 9,000 SF sections
- 850 SF and 2,000 SF sections are currently leased; 9,000 SF section is vacant
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
$90,121
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
4.29%
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%
$1,802,420
$1.8M
Cap Rate 7%
$1,287,443
$1.3M
Cap Rate 9%
$1,001,344
$1.0M
Market Conditions
NOI Build-Up for 12,000 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
$113.8K $9.48/SF
− Vacancy
−$7.7K −$0.64/SF
EGI
$106.0K $8.84/SF
− OpEx
−$15.9K −$1.33/SF
NOI
$90.1K $7.51/SF
Area
Lexington County, SC
Vacancy
6.80%
Lease Rate
$9.48 /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%
$1,802,420
Cap Rate 7%
$1,287,443
Cap Rate 9%
$1,001,344
Alternative Uses
Best Use
Warehouse
$1.29M
$1.13M – $1.50M
NOI $90,121 @ 7.0% cap · market cap 4.29%
Second Best
Industrial
$1.06M
$927.7K – $1.24M
NOI $74,217 @ 7.0% cap · market cap 3.53%
Theoretical Best
Office A
$3.22M
$2.82M – $3.76M
NOI $225,600 @ 7.0% cap · market cap 10.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
181
Businesses Nearby
Balanced
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
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Hudson's Smokehouse Catering — 4948 Sunset Blvd, Lexington, SC 29072
Frequently Asked Questions
What type of property is this?
Flex space - Two-building commercial property offers leased and vacant sections with separate restrooms and rear storage.
Where is this flex space located?
The property is located at 4886 Sunset Boulevard Lexington, SC.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: Two‑building property with stated building sizes of 12,000 SF and 3,500 SF; 12,000‑square‑foot building divided into 850 SF, 2,000 SF, and 9,000 SF sections; 850 SF and 2,000 SF sections are currently leased; 9,000 SF section is vacant
