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    3610 Landmark Dr Columbia, SC 29204

    Sponsored
    For Lease
    $16 SF/Yr

    ±2,200 SF Office, Excellent Location

    Lot size:
    2,200 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    408
    This exceptional ±2,200 square foot office space is ideally situated in the heart of Forest Acres, Columbia, South Carolina. Located at 3610 Landmark Drive, Suite F and Suite G, this traditional office space is available as a single unit or can be divided. The second-floor location offers seven private offices, providing ample space for a variety of business needs. Two restrooms, a convenient break area, a dedicated conference room, and a welcoming reception area are included, ensuring a comfortable and productive work environment. The property boasts abundant surface parking both in front and behind the building, offering easy access and convenience for employees and clients. This prime location in the Forest Acres submarket places your business near a wealth of professional and medical services, diverse dining options, and retail establishments, enhancing accessibility and attracting a wider clientele. The property is easily accessible from Forest Drive and N Beltline Drive, ensuring seamless commutes for your team and visitors. This is a fantastic opportunity to establish your business in a thriving and well-connected area of Columbia, South Carolina. The property is located in Richland County, South Carolina, zip code 29204. The building is a two-story structure.

    Property Features for 3610 Landmark Dr

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    2,200 SF

    Building Details

    Stories
    2

    Unit(s) available at that property

    Space
    Size
    2,200 SF
    Rate per SF
    $16

    We can help!

    Listing Contact
    Sydney Lanham
    Sydney Lanham

    Learn more

    Property Insight Report

    HighLights

    • ±2,200 SF of contiguous office space (Suites F & G), divisible into two suites.
    • Seven offices, two restrooms, breakroom, conference room, and reception area.
    • Ample surface parking.
    • Excellent location near numerous professional, medical, retail, and restaurant businesses.
    • $16.00/SF, Net, plus utilities and janitorial.
    Property Profile Location Intelligence

    Current Use by Public Records

    Planned Grocery Grocery Store Wayne Powers Apothecary ... Hair Salon Steve Cowart SC ... Real Estate Agent RE/MAX Advantage Group Real Estate Agency Bud Kinnie, RE/MAX ... Real Estate Agency

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Columbia
    County
    Richland
    State
    South Carolina
    Longitude
    -80.9878293
    Latitude
    34.0177743

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    FAQs

    What type of property is this?
    Office Property Space - ±2,200 SF Office, Excellent Location
    Where is this office property space located?
    The property is located at 3610 Landmark Dr Columbia, SC.
    What is the lease rate?
    The lease rate is $16 SF/Yr.
    What are key features of this property?
    This property features: ±2,200 SF of contiguous office space (Suites F & G), divisible into two suites.; Seven offices, two restrooms, breakroom, conference room, and reception area.; Ample surface parking.
    Request Owner's contact information
    3610 Landmark Dr Columbia, SC 29204
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    Columbia, SC 29204
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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
    3610 Landmark Dr Columbia, SC 29204
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    We can help!
    Listing Contact
    Sydney Lanham
    Sydney Lanham
    Real Estate License ID: 140915
    Learn more
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