Building Details

Building Size 5,000 SF

Year Built 1990

Stories 1

Listing Agency: Coldwell Banker Commercial Realty s***@cbcnrt.com Show Phone

Listed By: Scott Davis · License #7905 Show Phone

Source: Cbcworldwide

Added: Mar 5 Changed: Aug 8 Last Checked: Aug 8 at 6:06AM

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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 Coldwell Banker Commercial Realty

Investment Insights

Based on property information with market context.

This property features a 5000 square foot insulated metal building with steel supports and an 8-inch thick concrete floor. The building includes two overhead doors and 3-phase power. It is situated on a 2.46-acre corner lot. The property is zoned RD – Restrictive Development by Lexington County. Located off Hwy 378 in the Gilbert area near Lake Murray.

Key Highlights

• 5000sf insulated metal building with 8” thick concrete floor.
• Situated on a 2.46ac corner lot.
• Includes two overhead doors for easy access.

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

$37,550

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

6.40%

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%

$751,000 $751.0K

Cap Rate 7%

$536,429 $536.4K

Cap Rate 9%

$417,222 $417.2K

Market Conditions

NOI Build-Up for 5,000 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

$47.4K $9.48/SF

− Vacancy

−$3.2K −$0.64/SF

EGI

$44.2K $8.84/SF

− OpEx

−$6.6K −$1.33/SF

NOI

$37.6K $7.51/SF

Area

Lexington County, SC

Vacancy

6.80%

Lease Rate

$9.48 /SF/Yr

Expense Ratio

15.00%

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%

$751,000

Cap Rate 7%

$536,429

Cap Rate 9%

$417,222

Alternative Uses

Best Use

Warehouse

$536.4K

$469.4K – $625.8K (±1% cap)

NOI $37,550 @ 7.0% cap · market cap 6.40%

Second Best

Industrial

$441.8K

$386.6K – $515.4K (±1% cap)

NOI $30,924 @ 7.0% cap · market cap 5.27%

Theoretical Best

Office A

$1.34M

$1.18M – $1.57M (±1% cap)

NOI $94,000 @ 7.0% cap · market cap 16.01%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Warehouses

Suggested Use

Top Pick Big Box & Wholesale Store HVAC Service Restaurant Real Estate Agency Buffet Electronics & Wireless Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

22

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 29054, SC

10,774

Population

4,950

Households

2.2

Avg Household Size

44

Median Age

28%

College-Educated

95%

High-School Grad

57.3 sq mi

ZIP Area

188

Density / Sq Mi

$88,904

Median Household Income

$49,337

Median Earnings

$880

Median Rent

$278,300

Median Home Value

Market

Vacancy Rate% for Industrial in South region

6% 2019

6.5% 2020

4% 2021

3.5% 2022

6% 2023

7.6% 2024

7.9% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Warehouse - 5000sf insulated metal building on 2.46ac corner lot.

Where is this warehouse located?

The property is located at 9 Canvasback Road Gilbert, SC.

What is the asking price?

The asking price for this property is $587,000.

What are key features of this property?

This property features: 5000sf insulated metal building with 8” thick concrete floor.; Situated on a 2.46ac corner lot.; Includes two overhead doors for easy access.