Multi-Tenant Office
For Sale
Contact for pricing
941 Spears Creek Court, Columbia, SC 29229
Office building for sale with easy accessibility to I-20 in northeast Columbia.
Property Size10,000 SF
Price / SF$275
Days on Market171
Property Features for 941 Spears Creek Court
General Information
Standard status
Active
Size
10,000 SF
Class
A
Property subtype
Office
Zoning
M-1, Light Industrial
Building Details
Stories
1
Tenancy
Single
Listing Agency:
Trinity Partners
Listed By:
Rob Lapin · License #SC 17077
(803) 513-1518
Source:
Crexi
Added: Mar 25
Changed: Sep 2
Last Checked: Sep 11 at 8:11AM
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 Trinity Partners
Investment Insights
Based on property information with market context.
This for-sale office building totals approximately 110,000 SF and is offered as a commercial property at 941 Spears Creek Court in Columbia, SC (29229). The asset is positioned for straightforward office use within its existing building configuration.
The property is located in northeast Columbia and is described as having easy accessibility to I-20, supporting practical connectivity for tenant and visitor travel.
At approximately 10,000 (per the provided property size data), this offering should be underwritten based on the building’s full rentable and usable space details confirmed during due diligence.
The property is located in northeast Columbia and is described as having easy accessibility to I-20, supporting practical connectivity for tenant and visitor travel.
At approximately 10,000 (per the provided property size data), this offering should be underwritten based on the building’s full rentable and usable space details confirmed during due diligence.
Key Highlights
- 10,000 SF office building for sale
- Located in northeast Columbia with easy accessibility to I‑20
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
$118,800
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
4.32%
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%
$2,376,000
$2.4M
Cap Rate 7%
$1,697,143
$1.7M
Cap Rate 9%
$1,320,000
$1.3M
Market Conditions
NOI Build-Up for 10,000 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
$192.0K $19.20/SF
− Vacancy
−$33.6K −$3.36/SF
EGI
$158.4K $15.84/SF
− OpEx
−$39.6K −$3.96/SF
NOI
$118.8K $11.88/SF
Area
Columbia, SC
Vacancy
17.50%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
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%
$2,376,000
Cap Rate 7%
$1,697,143
Cap Rate 9%
$1,320,000
Alternative Uses
Best Use
Office B
$1.70M
$1.49M – $1.98M
NOI $118,800 @ 7.0% cap · market cap 4.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.46M
$2.15M – $2.87M
NOI $172,368 @ 7.0% cap · market cap 6.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
131
Businesses Nearby
Explore this area
Business Placement
Demographics for 29229, SC
51,548
Population
20,939
Households
2.5
Avg Household Size
36
Median Age
46%
College-Educated
94%
High-School Grad
18.3 sq mi
ZIP Area
2,817
Density / Sq Mi
$72,571
Median Household Income
$45,091
Median Earnings
$1,528
Median Rent
$230,800
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?
Office building - Office building for sale with easy accessibility to I-20 in northeast Columbia.
Where is this office building located?
The property is located at 941 Spears Creek Court Columbia, SC.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: 10,000 SF office building for sale; Located in northeast Columbia with easy accessibility to I‑20
