Updated Two-Unit
New
For Sale
$270,000
504 Wall Street, West Columbia, SC 29169
Recently refreshed property with two separately leased residences and established rental history.
Property Size1,256 SF
Price / SF$214.97
Days on Market4
Property Features for 504 Wall Street
General Information
Standard status
Active
Size
1,256 SF
Property subtype
Duplex
Additional Details
Multifamily Units
2
Amenities
0 acres, Lot Size: 8712, Lawn: Owner
Sewer: Tenant, Sewer: Public
Rollback tax
Central
Heating: Tenant, Central
Listed on 2026-09-16
2 parking spaces, Other
School District: Lexington Two, Elementary School: Riverbank Elementary, High School: Brookland-Cayce, Middle School: Northside
Area: Cayce/West Cola/Airport/S. Conga, Subdivision: NONE, County: Lexington, Geo Latitude: 33.994243, Geo Longitude: -81.080802
2 total units
Rent is 1100, 2 bedrooms, 4 rooms, 1 full bath
Rent is 1200, 2 bedrooms, 4 rooms, 1 full bath
2 total bathrooms, 2 full baths
Gas: Tenant, Electric: Tenant, Cable: Tenant, Trash: Tenant
Crawl Space
Water: Tenant, Public
Building Details
Year Built
1985
Listing Agency:
eXp Realty LLC
(888) 440-2798
Listed By:
Jacob Hopper
(864) 920-0303
Source:
Blackstreaminternational
Added: Sep 16
Changed: Sep 18
Last Checked: Sep 19 at 9:47AM
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 eXp Realty LLC
Investment Insights
Based on property information with market context.
The duplex at 504 Wall Street contains two separate residences, each arranged with 2 bedrooms and 1.5 bathrooms. Both units have received updates and offer functional layouts suited to ongoing residential leasing. The property was built in 1985 and has an established rent roll supporting its rental use.
West Columbia provides access to the broader Columbia area, with the property located less than 15 minutes from Downtown Columbia and the University of South Carolina. Shopping, dining, entertainment, and major interstates are also accessible from the site.
West Columbia provides access to the broader Columbia area, with the property located less than 15 minutes from Downtown Columbia and the University of South Carolina. Shopping, dining, entertainment, and major interstates are also accessible from the site.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1.5 bathrooms in each residence
- Both units have been updated
- Established rent roll and rental history
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
$9,766
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
3.62%
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%
$195,320
$195.3K
Cap Rate 7%
$139,514
$139.5K
Cap Rate 9%
$108,511
$108.5K
Market Conditions
NOI Build-Up for 1,256 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
$14.9K $11.88/SF
− Vacancy
−$970 −$0.77/SF
EGI
$14.0K $11.11/SF
− OpEx
−$4.2K −$3.33/SF
NOI
$9.8K $7.78/SF
Area
Lexington County, SC
Vacancy
6.50%
Lease Rate
$11.88 /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%
$195,320
Cap Rate 7%
$139,514
Cap Rate 9%
$108,511
Alternative Uses
Best Use
Multifamily LT 5
$139.5K
$122.1K – $162.8K
NOI $9,766 @ 7.0% cap · market cap 3.62%
Second Best
Apartment 5plus
$122.1K
$106.8K – $142.4K
NOI $8,544 @ 7.0% cap · market cap 3.16%
Theoretical Best
Office A
$337.3K
$295.2K – $393.6K
NOI $23,613 @ 7.0% cap · market cap 8.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
992
Businesses Nearby
Explore this area
Business Placement
Demographics for 29169, SC
22,768
Population
11,087
Households
2.1
Avg Household Size
40
Median Age
39%
College-Educated
89%
High-School Grad
11.6 sq mi
ZIP Area
1,963
Density / Sq Mi
$53,673
Median Household Income
$38,268
Median Earnings
$1,081
Median Rent
$189,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Recently refreshed property with two separately leased residences and established rental history.
Where is this duplex located?
The property is located at 504 Wall Street West Columbia, SC.
What is the asking price?
The asking price for this property is $270,000.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 1.5 bathrooms in each residence; Both units have been updated; Established rent roll and rental history
