Two-Tenant Office
For Sale
Contact for pricing
7464 Woodrow Street, Irmo, SC 29063
Fully leased office property with General Commercial zoning in Irmo.
Property Size11,770 SF
Price / SF$220.90
Days on Market18
Property Features for 7464 Woodrow Street
General Information
Standard status
Active
Size
11,770 SF
Class
B
Total Parking Spaces
45
Property subtype
Office
Zoning
General Commercial
Occupancy
100%
Investment Type
Stabilized
Building Details
Year Built
2008
Buildings
1
Tenancy
Multi
Listing Agency:
Meybohm Commercial
(706) 863-8182
Listed By:
Luke Henderson · License #SC 130415
Source:
Crexi
Added: Aug 14
Changed: Aug 31
Last Checked: Aug 30 at 2:29PM
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 Meybohm Commercial
Investment Insights
Based on property information with market context.
Built in 2008, this 11,770-square-foot office building is configured for two tenants and is fully leased. The property carries General Commercial zoning and is located at 7464 Woodrow Street in Irmo, South Carolina.
The property sits within the Irmo submarket, near the Harbison Retail Corridor and Columbiana Centre. Regional context includes Prisma Health Baptist Parkridge Hospital, while Interstate 26 provides commuter access to Downtown Columbia, the University of South Carolina, and Fort Jackson.
Irmo is part of the Columbia Metropolitan Statistical Area and is served by Lexington-Richland School District Five. The surrounding economy includes healthcare, higher education, state government, and regional retail commerce.
The property sits within the Irmo submarket, near the Harbison Retail Corridor and Columbiana Centre. Regional context includes Prisma Health Baptist Parkridge Hospital, while Interstate 26 provides commuter access to Downtown Columbia, the University of South Carolina, and Fort Jackson.
Irmo is part of the Columbia Metropolitan Statistical Area and is served by Lexington-Richland School District Five. The surrounding economy includes healthcare, higher education, state government, and regional retail commerce.
Key Highlights
- 11,770‑square‑foot office building
- Built in 2008
- Fully leased to two tenants
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
$141,821
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
5.45%
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%
$2,836,420
$2.8M
Cap Rate 7%
$2,026,014
$2.0M
Cap Rate 9%
$1,575,789
$1.6M
Market Conditions
NOI Build-Up for 11,770 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
$206.2K $17.52/SF
− Vacancy
−$17.1K −$1.45/SF
EGI
$189.1K $16.07/SF
− OpEx
−$47.3K −$4.02/SF
NOI
$141.8K $12.05/SF
Area
Richland County, SC
Vacancy
8.30%
Lease Rate
$17.52 /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%
$2,836,420
Cap Rate 7%
$2,026,014
Cap Rate 9%
$1,575,789
Alternative Uses
Best Use
Office B
$2.03M
$1.77M – $2.36M
NOI $141,821 @ 7.0% cap · market cap 5.45%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.66M
$2.32M – $3.10M
NOI $185,904 @ 7.0% cap · market cap 7.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
997
Businesses Nearby
Explore this area
Business Placement
Demographics for 29063, SC
36,341
Population
14,658
Households
2.5
Avg Household Size
40
Median Age
46%
College-Educated
96%
High-School Grad
40.1 sq mi
ZIP Area
906
Density / Sq Mi
$92,147
Median Household Income
$48,853
Median Earnings
$1,599
Median Rent
$239,300
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 - Fully leased office property with General Commercial zoning in Irmo.
Where is this office building located?
The property is located at 7464 Woodrow Street Irmo, SC.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: 11,770‑square‑foot office building; Built in 2008; Fully leased to two tenants
