Historic Building in The
For Sale
Contact for pricing
925 Gervais St. & 1217 Park St, Columbia, SC 29201
Historic building with parking lot suitable for mixed-use development.
Property Size12,170 SF
Lot Size0.50 Acres
Price / SF$188.99
Days on Market1480
Property Features for 925 Gervais St. & 1217 Park St
General Information
Standard status
Active
Size
12,170 SF
Class
B
Lot size
0.50 Acres
Property subtype
Retail, Office, Mixed Use
Building Details
Stories
2
Listing Agency:
Trinity Partners Columbia
(803) 567-5454
Listed By:
Roger Winn · License #SC 69646
Source:
Crexi
Added: Aug 13, 2022
Changed: Aug 19
Last Checked: Aug 30 at 9:49PM
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 Columbia
Investment Insights
Based on property information with market context.
This property features a historic building accompanied by a 0.5-acre parking lot. Situated in the heart of The Vista, the location is suitable for mixed-use, multi-family, or hotel development. The property's location in The Vista places it within walking distance of numerous restaurants and shops. The building has a property size of 12170 square feet.
Key Highlights
- Prime location in the heart of The Vista
- Includes a 0.5 acre parking lot
- Suitable for mixed‑use development
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
$172,970
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
7.52%
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%
$3,459,400
$3.5M
Cap Rate 7%
$2,471,000
$2.5M
Cap Rate 9%
$1,921,889
$1.9M
Market Conditions
NOI Build-Up for 12,170 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
$262.9K $21.60/SF
− Vacancy
−$15.8K −$1.30/SF
EGI
$247.1K $20.30/SF
− OpEx
−$74.1K −$6.09/SF
NOI
$173.0K $14.21/SF
Area
Columbia, SC
Vacancy
6.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
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%
$3,459,400
Cap Rate 7%
$2,471,000
Cap Rate 9%
$1,921,889
Alternative Uses
Best Use
Retail
$2.47M
$2.16M – $2.88M
NOI $172,970 @ 7.0% cap · market cap 7.52%
Second Best
Mixed Use
$2.28M
$1.99M – $2.66M
NOI $159,549 @ 7.0% cap · market cap 6.94%
Theoretical Best
Office A
$3.00M
$2.62M – $3.50M
NOI $209,772 @ 7.0% cap · market cap 9.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,359
Businesses Nearby
Explore this area
Business Placement
Demographics for 29201, SC
25,259
Population
12,619
Households
2
Avg Household Size
25
Median Age
56%
College-Educated
92%
High-School Grad
11.5 sq mi
ZIP Area
2,196
Density / Sq Mi
$34,327
Median Household Income
$14,671
Median Earnings
$1,207
Median Rent
$238,200
Median Home Value
Market
Vacancy Rate% for Office in Columbia, SC
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Historic building with parking lot suitable for mixed-use development.
Where is this mixed-use property located?
The property is located at 925 Gervais St. & 1217 Park St Columbia, SC.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: Prime location in the heart of The Vista; Includes a **0.5 acre parking lot**; Suitable for mixed‑use development
