Medical Office Space with Existing
For Sale
Contact for pricing
7659 Garners Ferry Rd, Columbia, SC 29209
Vacant former clinical space includes exam rooms, administrative offices, and patient waiting areas.
Property Size8,950 SF
Price / SF$300
Days on Market146
Property Features for 7659 Garners Ferry Rd
General Information
Standard status
Active
Size
8,950 SF
Class
B
Property subtype
Office, Retail
Zoning
GC
Additional Details
Highway Access
Yes
Building Details
Year Built
1998
Buildings
1
Stories
1
Listing Agency:
Avison Young - Greenville
(864) 747-5627
Listed By:
Harris Houser · License #145179
Source:
Crexi
Added: Apr 8
Changed: Aug 30
Last Checked: Aug 30 at 4:12PM
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 Avison Young - Greenville
Investment Insights
Based on property information with market context.
This 8,950-square-foot medical office building was constructed in 1998 and is being delivered vacant. The existing layout includes former examination rooms, clinical areas, administrative offices, and a patient waiting area, providing a foundation for continued medical use or reconfiguration.
The property is zoned GC and sits on Garners Ferry Road with access to Interstate 77. Existing medical-oriented improvements and mechanical systems remain in place, supporting a range of outpatient and healthcare-related configurations.
The property is zoned GC and sits on Garners Ferry Road with access to Interstate 77. Existing medical-oriented improvements and mechanical systems remain in place, supporting a range of outpatient and healthcare-related configurations.
Key Highlights
- 8,950‑square‑foot medical office building
- Built in 1998
- Delivered vacant for a future occupant
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
$119,858
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
4.46%
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%
$2,397,160
$2.4M
Cap Rate 7%
$1,712,257
$1.7M
Cap Rate 9%
$1,331,756
$1.3M
Market Conditions
NOI Build-Up for 8,950 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
$214.8K $24.00/SF
− Vacancy
−$15.0K −$1.68/SF
EGI
$199.8K $22.32/SF
− OpEx
−$79.9K −$8.93/SF
NOI
$119.9K $13.39/SF
Area
Columbia, SC
Vacancy
7.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
40.00%
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%
$2,397,160
Cap Rate 7%
$1,712,257
Cap Rate 9%
$1,331,756
Alternative Uses
Best Use
Healthcare Medical
$1.71M
$1.50M – $2.00M
NOI $119,858 @ 7.0% cap · market cap 4.46%
Second Best
Office B
$1.52M
$1.33M – $1.77M
NOI $106,326 @ 7.0% cap · market cap 3.96%
Theoretical Best
Office A
$2.20M
$1.93M – $2.57M
NOI $154,269 @ 7.0% cap · market cap 5.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
398
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 29209, SC
35,738
Population
16,520
Households
2.2
Avg Household Size
37
Median Age
39%
College-Educated
93%
High-School Grad
52.8 sq mi
ZIP Area
677
Density / Sq Mi
$58,854
Median Household Income
$38,756
Median Earnings
$1,252
Median Rent
$183,200
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?
Medical Office Space - Vacant former clinical space includes exam rooms, administrative offices, and patient waiting areas.
Where is this medical office space located?
The property is located at 7659 Garners Ferry Rd Columbia, SC.
What is the asking price?
The asking price for this property is $2,685,000.
What are key features of this property?
This property features: 8,950‑square‑foot medical office building; Built in 1998; Delivered vacant for a future occupant
