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    918 Lake Dr Lexington, SC 29072

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    For Lease
    Contact for pricing

    High-traffic retail space in Lexington, SC

    Lot size:
    131,809 SF

    Property Features for 918 Lake Dr

    General Information

    Property type
    Lifestyle centers
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    131,809 SF

    Spaces For Lease

    at 918 Lake Dr, Lexington, SC 29072 Contact us

    We can help!

    Listing Contact
    Spencer Brown

    Listing Agency: The Providence Group Listing Agent: Spencer Brown

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Lexington Towne Centre offers a prime retail opportunity in Lexington, South Carolina. This 131,809 square foot shopping center is anchored by Food Lion, Books-A-Million, and Big Air, ensuring high visibility and consistent foot traffic. Currently, 3,775 square feet of retail space is available, representing a minimum divisible unit size. The maximum contiguous space available is also 3,775 square feet, ideal for a single tenant seeking a prominent location. The center boasts a total of 15 suites, providing a diverse mix of tenants and a vibrant atmosphere. Situated on 12 acres of land at the intersection of Sunset Blvd and N Lake Dr, this location benefits from excellent accessibility and visibility in a rapidly growing area of the Columbia metro region. The property's strategic location extends its reach to the substantial residential population surrounding Lake Murray, providing a wide and established customer base. This opportunity is perfect for businesses seeking a well-established location within a thriving retail environment. The property's size and location make it an attractive option for a variety of retail uses, including those listed in the property subtype: Shopping Center, Office, Retail, Salon, and Massage.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Food Lion Grocery & Convenience Store HOTWORX- Lexington, SC Gym & Fitness Center Blue Rhino Propane ... Propane Supplier Western Union Bank Coinstar Kiosk | Bitcoin ... Atm

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lexington
    County
    Lexington
    State
    South Carolina
    Longitude
    -81.22907876326
    Latitude
    33.994040258655

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    FAQs

    What type of property is this?
    Lifestyle center - High-traffic retail space in Lexington, SC
    Where is this lifestyle center located?
    The property is located at 918 Lake Dr Lexington, SC.
    What are key features of this property?
    This property features: High-visibility corner location at the signalized intersection of Sunset Blvd and N Lake Dr.; Excellent ingress/egress from both Sunset Blvd and N Lake Dr.; Strong demographics, with average household incomes exceeding $125,000 within a 3-mile radius.
    (704) 376-6523
    Request Owner's contact information
    918 Lake Dr Lexington, SC 29072
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    Lexington, SC 29072
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    918 Lake Dr Lexington, SC 29072
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    Listing Contact
    Spencer Brown
    (704) 376-6523
    Learn more
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