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    The Largest CRE Database in the US with Over 1 Million Listings

    1022 Calhoun St Columbia, SC 29201

    Sponsored
    For Lease
    $18 SF/Yr

    ±15,615 SF Office Building, Downtown Columbia

    Lot size:
    15,615 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    421
    This ±15,615 square foot, three-level office building at 1022 Calhoun Street in Columbia, South Carolina offers a unique blend of mid-century modern design and prime downtown location. The property boasts ample on-site parking, including covered parking on the ground level, and features three convenient entrances, providing ground-level access. Strategically situated at the signalized intersection of Assembly and Calhoun Streets, the building is easily accessible from both streets, offering excellent visibility and convenient access to Interstate 126. The location provides unparalleled proximity to the vibrant Vista district, the Central Business District, Downtown Columbia, the University of South Carolina's main campus, and Riverfront Park. Tenants will appreciate the abundance of nearby dining, retail, and entertainment options. This versatile space is ideal for businesses seeking a prominent address in a thriving urban environment, offering a combination of functionality, style, and exceptional accessibility. The building's layout and location make it an excellent opportunity for a variety of professional office uses. The property is located in Richland County, South Carolina, zip code 29201. The building is available for lease or sale as a whole.

    Property Features for 1022 Calhoun St

    General Information

    Property type
    Office space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    15,615 SF
    Total Rate
    23422.5

    Spaces For Lease

    at 1022 Calhoun St, Columbia, SC 29201 Contact us
    Unit Suite 301

    $18 /Mo

    Size
    2,865 SF
    Contact us

    We can help!

    Listing Contact
    Mary Winter Teaster
    Mary Winter Teaster

    Learn more

    Property Insight Report

    HighLights

    • 2,865 SF of available space.
    • Ample on‑site parking.
    • Mid‑century modern building design.
    • Convenient access from Assembly and Calhoun Streets.
    • Easy access to I‑126 and the I‑20/I‑26 interchange.
    • Close proximity to the Vista, Central Business District, Downtown Columbia, and the University of South Carolina.
    Property Profile Location Intelligence

    Current Use by Public Records

    Columbia Barber Lounge Barber Shop Modern Color Photography Photography Service Lais Day Spa ... Spa & Massage Center Jason Compton Realtor ... Real Estate Agency SC HIV Council Charitable Organization

    Suggested Use

    Restaurant Real Estate Agency Dental Office Spa & Massage Center Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Columbia
    County
    Richland
    State
    South Carolina
    Longitude
    -81.040598983764
    Latitude
    34.011299671384

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    FAQs

    What type of property is this?
    Office space - ±15,615 SF Office Building, Downtown Columbia
    Where is this office space located?
    The property is located at 1022 Calhoun St Columbia, SC.
    What is the lease rate?
    The lease rate is $18 SF/Yr.
    What are key features of this property?
    This property features: 2,865 SF of available space.; Ample on-site parking.; Mid-century modern building design.
    (803) 401-4308
    Request Owner's contact information
    1022 Calhoun St Columbia, SC 29201
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    Columbia, SC 29201
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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
    1022 Calhoun St Columbia, SC 29201
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    We can help!
    Listing Contact
    Mary Winter Teaster
    Mary Winter Teaster
    Real Estate License ID: 28525
    (803) 401-4308
    Learn more
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