Freestanding Retail Building Near
For Sale
Contact for pricing
1290 Bower Parkway, Columbia, SC 29212
5,700 SF retail building adjacent to Columbiana Centre.
Property Size6,500 SF
Price / SF$307.69
Days on Market1179
Property Features for 1290 Bower Parkway
General Information
Standard status
Active
Size
6,500 SF
Class
A
Property subtype
Retail
Zoning
C2
Building Details
Year Built
2009
Year Renovated
2009
Buildings
1
Stories
1
Units
1
Listing Agency:
Carolinas commercial brokerage
Listed By:
Tony Tsurunakis · License #NC 315915
Source:
Crexi
Added: May 19, 2023
Changed: Aug 8
Last Checked: Aug 8 at 4:26AM
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 Carolinas commercial brokerage
Investment Insights
Based on property information with market context.
This freestanding retail building, totaling 5,700 square feet, is available for sale. The building features a steel facade with a brick exterior and a turnkey interior suitable for a restaurant. It is located adjacent to major retailers such as Walmart, Sams Club, Nordstrom, Target, and Publix. Ample parking is available. The property is surrounded by retail centers, including Crawford Square, Harbison Crossing, Harbison Court, and Columbiana Centre. Situated next to Regal Columbiana Theater and Columbiana Centre, the property benefits from heavy retail traffic. The restaurant is turnkey with a modern upfit and all FF&E in perfect condition and surrounded by dense retail. The property size is 6,500 square feet.
Key Highlights
- Turnkey restaurant setup with modern upfit and all FF&E in perfect condition.
- Prime location adjacent to Regal Columbiana Theater and Columbiana Centre (Columbia’s Biggest Mall).
- Located next to major retailers including Walmart, Sams Club, Nordstrom, Target, and Publix.
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
$105,037
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
5.25%
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%
$2,100,740
$2.1M
Cap Rate 7%
$1,500,529
$1.5M
Cap Rate 9%
$1,167,078
$1.2M
Market Conditions
NOI Build-Up for 6,500 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
$148.2K $22.80/SF
− Vacancy
−$8.2K −$1.25/SF
EGI
$140.0K $21.55/SF
− OpEx
−$35.0K −$5.39/SF
NOI
$105.0K $16.16/SF
Area
Columbia, SC
Vacancy
5.50%
Lease Rate
$22.80 /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%
$2,100,740
Cap Rate 7%
$1,500,529
Cap Rate 9%
$1,167,078
Alternative Uses
Best Use
Specialty Retail
$1.50M
$1.31M – $1.75M
NOI $105,037 @ 7.0% cap · market cap 5.25%
Second Best
Retail
$1.32M
$1.15M – $1.54M
NOI $92,383 @ 7.0% cap · market cap 4.62%
Theoretical Best
Office A
$1.60M
$1.40M – $1.87M
NOI $112,039 @ 7.0% cap · market cap 5.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
882
Businesses Nearby
932k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 24%
Apparel 23%
Dining 19%
Shops & Services 9%
Walmart
Superstores
120,300 visits/mo
0.3 miles
Sam's Club
Superstores
103,834 visits/mo
0.2 miles
Academy Sports + Outdoors
Apparel
71,675 visits/mo
0.2 miles
DICK'S Sporting Goods
Apparel
59,741 visits/mo
0.4 miles
Chick-fil-A
Dining
48,683 visits/mo
0.3 miles
Demographics for 29212, SC
29,739
Population
13,374
Households
2.2
Avg Household Size
43
Median Age
46%
College-Educated
94%
High-School Grad
21.4 sq mi
ZIP Area
1,390
Density / Sq Mi
$74,652
Median Household Income
$45,221
Median Earnings
$1,359
Median Rent
$222,200
Median Home Value
Market
Vacancy Rate% for Retail in Columbia, SC
Questions? Ask Rey
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Similar Off Market Nearby
- Ole Timey Trail Blazers Cater — 6352 St Andrews Rd, Columbia, SC 29212
- HowDeeDoezIT — Harbison Blvd, Columbia, SC 29212
- BIG L’S KITCHEN — 151, Columbia, SC 29212
Frequently Asked Questions
What type of property is this?
Restaurant - 5,700 SF retail building adjacent to Columbiana Centre.
Where is this restaurant located?
The property is located at 1290 Bower Parkway Columbia, SC.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Turnkey restaurant setup with modern upfit and all FF&E in perfect condition.; Prime location adjacent to Regal Columbiana Theater and Columbiana Centre (Columbia’s Biggest Mall).; Located next to major retailers including Walmart, Sams Club, Nordstrom, Target, and Publix.
