Office Building at Parklane
For Sale
Contact for pricing
200 Springtree Dr, Columbia, SC 29223
Office building with abundant parking and prominent signage.
Property Size9,675 SF
Price / SF$192.45
Days on Market1231
Property Features for 200 Springtree Dr
General Information
Standard status
Active
Size
9,675 SF
Class
A
Property subtype
Office
Zoning
GC - General Commercial
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Building Details
Year Built
2005
Buildings
1
Stories
2
Tenancy
Single
Listing Agency:
NAI Columbia
Listed By:
Jeff Hein, SIOR · License #SC 13330
Source:
Crexi
Added: Apr 21, 2023
Changed: Aug 17
Last Checked: Sep 1 at 12:25PM
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 NAI Columbia
Investment Insights
Based on property information with market context.
This office building is situated at the signalized corner of Parklane Road and Springtree Drive, across from the Richland Library. The location offers proximity to Two Notch Road and Farrow Road, with traffic volumes of 30,000 and 10,400 vehicles per day, respectively. The property features abundant on-site parking at a ratio of 5.9 spaces per 1,000 square feet. Pylon signage is available, facing Parklane Road. New HVAC systems were installed in 2019. The building has a size of 9,675 square feet.
Key Highlights
- Excellent location at the signalized corner of Parklane Road and Springtree Drive.
- Abundant on‑site parking (5.9/1,000).
- Pylon signage facing Parklane Rd.
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
$114,939
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
6.17%
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%
$2,298,780
$2.3M
Cap Rate 7%
$1,641,986
$1.6M
Cap Rate 9%
$1,277,100
$1.3M
Market Conditions
NOI Build-Up for 9,675 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
$185.8K $19.20/SF
− Vacancy
−$32.5K −$3.36/SF
EGI
$153.3K $15.84/SF
− OpEx
−$38.3K −$3.96/SF
NOI
$114.9K $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%
$2,298,780
Cap Rate 7%
$1,641,986
Cap Rate 9%
$1,277,100
Alternative Uses
Best Use
Office B
$1.64M
$1.44M – $1.92M
NOI $114,939 @ 7.0% cap · market cap 6.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.38M
$2.08M – $2.78M
NOI $166,766 @ 7.0% cap · market cap 8.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
528
Businesses Nearby
Explore this area
Business Placement
Demographics for 29223, SC
52,477
Population
24,142
Households
2.2
Avg Household Size
39
Median Age
36%
College-Educated
90%
High-School Grad
25.3 sq mi
ZIP Area
2,074
Density / Sq Mi
$56,300
Median Household Income
$37,435
Median Earnings
$1,217
Median Rent
$183,800
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 with abundant parking and prominent signage.
Where is this office building located?
The property is located at 200 Springtree Dr Columbia, SC.
What is the asking price?
The asking price for this property is $1,862,000.
What are key features of this property?
This property features: Excellent location at the signalized corner of Parklane Road and Springtree Drive.; Abundant on‑site parking (5.9/1,000).; Pylon signage facing Parklane Rd.
