Quadplex with Assigned
New
For Sale
$525,000
624 S Waccamaw Avenue, Columbia, SC 29208
MULTI-FAMILY, Columbia, SC
Property Size1,479 SF
Price / SF$354.97
Days on Market4
Property Features for 624 S Waccamaw Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 7, Bedroom 8, Bedroom 5, Bathroom 4, Bedroom 1, Bathroom 2, Bedroom 4, Bedroom 2, Bedroom 6, Bathroom 3, Bedroom 3, Bathroom 1
Parking
8
Parking features
Assigned
Subdivision
ROSEWOOD
Elementary school
A.C. Moore
Middle school
Hand
High school
Dreher
Elementary school district
Richland One
Middle school district
Richland One
High school district
Richland One
Directions
Rosewood Drive to S Waccamaw, corner of S Waccamaw and Holt.
Standard status
Active
Size
1,479 SF
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1940
Floors in Building
1
Number of units
4
Listing Agency:
Bollin Ligon Walker Realtors
(803) 256-6287
Listed By:
Laine Ligon Jr · License #17642
(803) 744-4210
Added: Sep 24
Changed: Sep 25
Last Checked: Sep 27 at 12:06PM
MLS# 643827
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 1,479-square-foot quadplex was built in 1940. Its room inventory includes eight bedrooms and four bathrooms. The property has central heating and central air conditioning, along with assigned parking and public water service.
Located at 624 S Waccamaw Avenue in Columbia, the property is in Richland County.
Located at 624 S Waccamaw Avenue in Columbia, the property is in Richland County.
Key Highlights
- Four‑unit residential property
- 1,479 square feet; built in 1940
- Room inventory lists 8 bedrooms and 4 bathrooms
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
$15,849
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
3.02%
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%
$316,980
$317.0K
Cap Rate 7%
$226,414
$226.4K
Cap Rate 9%
$176,100
$176.1K
Market Conditions
NOI Build-Up for 1,479 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
$24.0K $16.20/SF
− Vacancy
−$1.3K −$0.89/SF
EGI
$22.6K $15.31/SF
− OpEx
−$6.8K −$4.59/SF
NOI
$15.8K $10.72/SF
Area
Columbia, SC
Vacancy
5.50%
Lease Rate
$16.20 /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%
$316,980
Cap Rate 7%
$226,414
Cap Rate 9%
$176,100
Alternative Uses
Best Use
Multifamily LT 5
$226.4K
$198.1K – $264.2K
NOI $15,849 @ 7.0% cap · market cap 3.02%
Second Best
Apartment 5plus
$198.3K
$173.5K – $231.4K
NOI $13,881 @ 7.0% cap · market cap 2.64%
Theoretical Best
Office A
$364.2K
$318.7K – $424.9K
NOI $25,493 @ 7.0% cap · market cap 4.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
582
Businesses Nearby
Explore this area
Business Placement
Demographics for 29208, SC
2,330
Population
10
Households
233
Avg Household Size
16
Median Age
13%
College-Educated
100%
High-School Grad
0.1 sq mi
ZIP Area
23,300
Density / Sq Mi
$4,281
Median Earnings
Check the figures for this property
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?
Quadplex - Central heating and air conditioning serve the property, which also has public water service.
Where is this quadplex located?
The property is located at 624 S Waccamaw Avenue Columbia, SC.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Four‑unit residential property; 1,479 square feet; built in 1940; Room inventory lists 8 bedrooms and 4 bathrooms
