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

    1331 Elmwood Ave Columbia, SC 29201

    Sponsored
    For Lease
    $17 SF/Yr

    Modern Suites, Central Business District

    Lot size:
    16,684 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    419
    1331 Elmwood Avenue offers exceptional executive office space in Columbia, South Carolina's Central Business District. This meticulously renovated (2021) building boasts a total of 16,684 square feet, providing multiple tenancy options. Individual suites range from a minimum of 1,330 square feet to a maximum contiguous space of 5,492 square feet, catering to a variety of business needs. The property is ideally situated in Richland County, offering convenient access to key amenities and transportation routes within the vibrant Columbia submarket. Ample parking is available, with a ratio of four spaces per 1,000 square feet of rentable space. The building's modern design and prime location make it an attractive option for businesses seeking a prestigious and functional workspace. This is a fantastic opportunity to secure high-quality office space in a thriving urban core. The property is currently available for lease and offers flexible lease terms to accommodate diverse business requirements. Contact us today to schedule a viewing and explore the possibilities of establishing your business at this premier address. The property is classified as an office building with an executive office subtype.

    Property Features for 1331 Elmwood Ave

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    16,684 SF
    Total Rate
    23635.67

    Building Details

    Year Renovated
    2021

    Unit(s) available at that property

    Space
    Suite 200A
    Size
    2,847 SF
    Rate per SF
    $17
    Space
    Suite 210
    Size
    2,645 SF
    Rate per SF
    $17
    Space
    Suite 150
    Size
    3,743 SF
    Rate per SF
    $17
    Space
    Suite 300A
    Size
    2,032 SF
    Rate per SF
    $17

    We can help!

    Listing Contact
    Bruce Harper
    Bruce Harper

    Learn more

    Property Insight Report

    HighLights

    • Full‑service, professionally managed office building in Columbia's Central Business District.
    • Recently renovated with exterior landscaping enhancements and upgraded interior finishes.
    • Flexible lease terms available.
    • Abundant on‑site parking (4 spaces per 1,000 rentable square feet), including covered parking.
    • Convenient access to major interstate highways.
    • Floor plans available upon request.
    Property Profile Location Intelligence

    Current Use by Public Records

    Buford Goff & Associates ... Association / Organization The Law Office of Daryl ... Law Firm Diversified Development Inc Construction Company Sullivan Law Firm, ... Law Firm Boger & Peters LLC Law Firm

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Columbia
    County
    Richland
    State
    South Carolina
    Longitude
    -81.036257
    Latitude
    34.0148021

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    FAQs

    What type of property is this?
    Office Property / Space - Modern Suites, Central Business District
    Where is this office property / space located?
    The property is located at 1331 Elmwood Ave Columbia, SC.
    What is the lease rate?
    The lease rate is $17 SF/Yr.
    What are key features of this property?
    This property features: Full-service, professionally managed office building in Columbia's Central Business District.; Recently renovated with exterior landscaping enhancements and upgraded interior finishes.; Flexible lease terms available.
    (803) 567-1445
    Request Owner's contact information
    1331 Elmwood Ave 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
    1331 Elmwood Ave Columbia, SC 29201
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    We can help!
    Listing Contact
    Bruce Harper
    Bruce Harper
    Real Estate License ID: 12804
    (803) 567-1445
    Learn more
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