Updated Office
New
For Sale
$499,900
7116 Firelane Road, Columbia, SC 29223
Updated commercial office space with private offices, collaborative work areas, and multiple entrances.
Property Size3,782 SF
Price / SF$132.18
Days on Market7
Property Features for 7116 Firelane Road
General Information
Standard status
Active
Size
3,782 SF
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Amenities
six private offices
bullpen area
gathering/conference area
5 restrooms
24-hour/30-day 8-camera security system
prep kitchen with marble counters
epoxy floors
12' ceilings
exposed brick
0.4 acres, Lot size: 17424
Metal
Public
Central, Heat Pump, Wall Units
Central, Forced Air, Heat Pump
Listed on 2026-08-14
20 parking spaces
3,782 gross square footage, Built in 1970, Construction: Brick,Metal
County: Richland, Geo Latitude: 34.072587, Geo Longitude: -80.950644
Zoning: GC
In Storage, Out Storage, Restrooms, Roof Sign
Building Details
Building Size
3,782 SF
Year Renovated
2020
Buildings
1
Construction
brick
Listing Agency:
EXIT Realty Unlimited LLC
(864) 230-4769
Listed By:
Jae Kim
Source:
Blackstreaminternational
Added: Aug 14
Changed: Aug 20
Last Checked: Aug 20 at 4:42AM
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 EXIT Realty Unlimited LLC
Investment Insights
Based on property information with market context.
This 3,782-square-foot office building combines a brick exterior, metal roof, and an interior updated in 2020. The layout includes six private offices, an open bullpen, a central conference and gathering area, five restrooms, and a prep kitchen with marble counters. Five exterior entrances support flexible circulation, while epoxy flooring, exposed brick, and 12-foot ceilings create a durable, open industrial-style setting. A 24-hour/30-day, eight-camera security system is also installed.
The property is located off I-20 and Two Notch Road, beside Lowe's Home Improvement and Jasmine Buffet. Its configuration and finish package support professional office or creative workplace use.
The property is located off I-20 and Two Notch Road, beside Lowe's Home Improvement and Jasmine Buffet. Its configuration and finish package support professional office or creative workplace use.
Key Highlights
- 3,782‑square‑foot office building updated in 2020
- Six private offices plus bullpen and central conference area
- Five exterior entrances and five restrooms
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
$44,930
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
8.99%
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%
$898,600
$898.6K
Cap Rate 7%
$641,857
$641.9K
Cap Rate 9%
$499,222
$499.2K
Market Conditions
NOI Build-Up for 3,782 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
$72.6K $19.20/SF
− Vacancy
−$12.7K −$3.36/SF
EGI
$59.9K $15.84/SF
− OpEx
−$15.0K −$3.96/SF
NOI
$44.9K $11.88/SF
Area
Columbia, SC
Vacancy
17.50%
Lease Rate
$19.20 /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%
$898,600
Cap Rate 7%
$641,857
Cap Rate 9%
$499,222
Alternative Uses
Best Use
Flex RnD
$669.9K
$586.1K – $781.5K
NOI $46,890 @ 7.0% cap · market cap 9.38%
Second Best
Industrial
$659.7K
$577.2K – $769.6K
NOI $46,176 @ 7.0% cap · market cap 9.24%
Theoretical Best
Office A
$931.3K
$814.9K – $1.09M
NOI $65,190 @ 7.0% cap · market cap 13.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
797
Businesses Nearby
Explore this area
Business Placement
Demographics for 29223, SC
52,477
Population
24,142
Households
2.2
Avg Household Size
39
Median Age
36%
College-Educated
90%
High-School Grad
25.3 sq mi
ZIP Area
2,074
Density / Sq Mi
$56,300
Median Household Income
$37,435
Median Earnings
$1,217
Median Rent
$183,800
Median Home Value
Market
Vacancy Rate% for Office in Columbia, SC
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Updated commercial office space with private offices, collaborative work areas, and multiple entrances.
Where is this office units located?
The property is located at 7116 Firelane Road Columbia, SC.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: 3,782‑square‑foot office building updated in 2020; Six private offices plus bullpen and central conference area; Five exterior entrances and five restrooms
