Flex Space with Multiple
New
For Sale
$2,100,000
4886 Sunset Boulevard, Lexington, SC 29072
COMMERCIAL/INDUSTRIAL, Lexington, SC
Property Size12,000 SF
Lot Size1.83 Acres
Price / SF$175
Days on Market2
Property Features for 4886 Sunset Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
ID
Parking
20
Directions
I-20 and Hwy 378 towards Lexington, pass J. T's Chrysler-Jeep, property on right.
Subdivision
Lexington and surrounding area
Standard status
Active
Size
12,000 SF
Lot size
1.83 Acres
Utilities
Cooling system
Heat Pump
Building Details
Floors in Building
1
Listing Agency:
Ronnie Wingard Real Estate
(803) 359-6191
Listed By:
Ronnie Wingard
(803) 351-5336
Added: Aug 27
Last Checked: Aug 28 at 3:06PM
MLS# 641761
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 flex-space property includes two buildings with a range of section sizes and configurations. The larger building contains 12,000 square feet divided into 850-square-foot, 2,000-square-foot, and 9,000-square-foot areas. The 850-square-foot and 2,000-square-foot sections are leased, while the 9,000-square-foot area is vacant. The vacant section includes four restrooms and additional rear storage; each other section has one restroom. A separate 3,500-square-foot rear building is also leased.
The property is zoned ID and sits on 1.83 acres at 4886 Sunset Boulevard in Lexington, South Carolina. Public water and a septic tank serve the site. Sunset Boulevard carries an approximate traffic count of 45,000 cars daily. Cooling is provided by a heat pump.
The property is zoned ID and sits on 1.83 acres at 4886 Sunset Boulevard in Lexington, South Carolina. Public water and a septic tank serve the site. Sunset Boulevard carries an approximate traffic count of 45,000 cars daily. Cooling is provided by a heat pump.
Key Highlights
- Two buildings measuring 12,000 square feet and 3,500 square feet
- 12,000‑square‑foot building divided into 850‑square‑foot, 2,000‑square‑foot, and 9,000‑square‑foot sections
- 850‑square‑foot and 2,000‑square‑foot sections currently leased
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
Location Intelligence
Trade Area within ½ mile
212
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 with leased sections, vacant industrial space, and restroom facilities throughout.
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 buildings measuring 12,000 square feet and 3,500 square feet; 12,000‑square‑foot building divided into 850‑square‑foot, 2,000‑square‑foot, and 9,000‑square‑foot sections; 850‑square‑foot and 2,000‑square‑foot sections currently leased
