Integrated Heart Center Medical
For Sale
Contact for pricing
8 Richland Medical Park Dr, Columbia, SC 29203
Advanced heart center integrated into Prisma Health Heart Hospital; new roof installed in Q1 2026.
Property Size96,190 SF
Price / SF$313.12
Days on Market116
Property Features for 8 Richland Medical Park Dr
General Information
Standard status
Active
Size
96,190 SF
Property subtype
OFFICE
Listing Agency:
Randall Commercial Group
(662) 234-4044
Listed By:
Elizabeth Randall · License #19734
(662) 234-4043
Source:
Moodyscre
Added: May 13
Changed: Aug 12
Last Checked: Sep 5 at 2:12PM
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 Randall Commercial Group
Investment Insights
Based on property information with market context.
This advanced heart center is integrated into the Prisma Health Heart Hospital on a hospital campus in a dense metropolitan area. The facility is part of the medical complex at 8 Richland Medical Park Dr, Columbia, SC 29203.
A new roof was installed in Q1 2026, with an approximate capital investment of $652,000. The offering presents a healthcare-focused buildout as part of an existing hospital integration, supported by recent major exterior improvement.
A new roof was installed in Q1 2026, with an approximate capital investment of $652,000. The offering presents a healthcare-focused buildout as part of an existing hospital integration, supported by recent major exterior improvement.
Key Highlights
- Advanced heart center integrated into Prisma Health Heart Hospital on a hospital campus.
- New roof installed in Q1 2026 with approx. capital investment of $652K.
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
$1,288,176
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
4.28%
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%
$25,763,520
$25.8M
Cap Rate 7%
$18,402,514
$18.4M
Cap Rate 9%
$14,313,067
$14.3M
Market Conditions
NOI Build-Up for 96,190 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
$2.31M $24.00/SF
− Vacancy
−$161.6K −$1.68/SF
EGI
$2.15M $22.32/SF
− OpEx
−$858.8K −$8.93/SF
NOI
$1.29M $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%
$25,763,520
Cap Rate 7%
$18,402,514
Cap Rate 9%
$14,313,067
Alternative Uses
Best Use
Healthcare Medical
$18.40M
$16.10M – $21.47M
NOI $1,288,176 @ 7.0% cap · market cap 4.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$23.69M
$20.73M – $27.63M
NOI $1,658,008 @ 7.0% cap · market cap 5.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,189
Businesses Nearby
Explore this area
Business Placement
Demographics for 29203, SC
39,449
Population
18,815
Households
2.1
Avg Household Size
38
Median Age
22%
College-Educated
84%
High-School Grad
62.3 sq mi
ZIP Area
633
Density / Sq Mi
$42,371
Median Household Income
$30,228
Median Earnings
$1,041
Median Rent
$121,600
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Hospital - Advanced heart center integrated into Prisma Health Heart Hospital; new roof installed in Q1 2026.
Where is this hospital located?
The property is located at 8 Richland Medical Park Dr Columbia, SC.
What is the asking price?
The asking price for this property is $30,119,201.
What are key features of this property?
This property features: Advanced heart center integrated into Prisma Health Heart Hospital on a hospital campus.; New roof installed in Q1 2026 with approx. capital investment of $652K.
