Five-Office Corner Office
For Sale
$285,000
515 E Main St, Lexington, SC 29072
Corner office building with five offices and dedicated parking, positioned for strong visibility along a major thoroughfare.
Property Size920 SF
Days on Market60
Property Features for 515 E Main St
General Information
Standard status
Active
Size
920 SF
Class
B
Property subtype
Office - General Office
Additional Details
Traffic Count
28,400 vehicles/day
Office Units
5
Building Details
Building Size
920 SF
Year Built
1927
Listing Agency:
Wilson Kibler
(803) 779-8600
Listed By:
Julian Wilson · License #57962
Source:
Commercialcafe
Added: Jun 23
Changed: Aug 14
Last Checked: Aug 14 at 7:07AM
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 Wilson Kibler
Investment Insights
Based on property information with market context.
This for-sale office property is situated on a corner lot and includes five individual offices. Dedicated parking supports convenient tenant or client access, and the layout is set up for professional use requiring multiple private rooms.
Located at 515 E Main St in Lexington, SC, the building benefits from corner positioning and strong street visibility. Public remarks indicate exposure to approximately 28,400 vehicles per day and a surrounding mix of law firms and other professional offices, with proximity to high-traffic thoroughfares.
The property is well suited for professionals and small organizations looking for a multi-office office format. With its dedicated parking and five-office configuration, it can accommodate client-facing operations that require separate rooms for meetings, administration, or consultations, while taking advantage of its corner visibility on E Main St.
Located at 515 E Main St in Lexington, SC, the building benefits from corner positioning and strong street visibility. Public remarks indicate exposure to approximately 28,400 vehicles per day and a surrounding mix of law firms and other professional offices, with proximity to high-traffic thoroughfares.
The property is well suited for professionals and small organizations looking for a multi-office office format. With its dedicated parking and five-office configuration, it can accommodate client-facing operations that require separate rooms for meetings, administration, or consultations, while taking advantage of its corner visibility on E Main St.
Key Highlights
- Corner lot office building on E Main St with dedicated parking
- Five‑office layout for professional use
- Year built: 1927
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
$12,336
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
4.33%
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%
$246,720
$246.7K
Cap Rate 7%
$176,229
$176.2K
Cap Rate 9%
$137,067
$137.1K
Market Conditions
NOI Build-Up for 920 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
$17.6K $19.08/SF
− Vacancy
−$1.1K −$1.20/SF
EGI
$16.4K $17.88/SF
− OpEx
−$4.1K −$4.47/SF
NOI
$12.3K $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 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%
$246,720
Cap Rate 7%
$176,229
Cap Rate 9%
$137,067
Alternative Uses
Best Use
Office B
$176.2K
$154.2K – $205.6K
NOI $12,336 @ 7.0% cap · market cap 4.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$247.1K
$216.2K – $288.3K
NOI $17,296 @ 7.0% cap · market cap 6.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Office units
28,400 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
1,140
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Corner office building with five offices and dedicated parking, positioned for strong visibility along a major thoroughfare.
Where is this office building located?
The property is located at 515 E Main St Lexington, SC.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: Corner lot office building on E Main St with dedicated parking; Five‑office layout for professional use; Year built: 1927
