Retail Space with Monument
New
For Sale
$2,950,000
9704 Two Notch Rd, Columbia, SC 29223
The property combines restaurant space with a leased dental suite.
Property Size10,828 SF
Lot Size1.78 Acres
Days on Market4
Property Features for 9704 Two Notch Rd
General Information
Standard status
Active
Size
10,828 SF
Total Parking Spaces
80
Lot size
1.78 Acres
Property subtype
Retail - Street Retail
Site & Location
Pylon Signage
Yes
Traffic Count
37,000 vehicles/day
Highway Access
Yes
Road Access
Yes
Building Details
Building Size
10,828 SF
Year Built
2019
Tenancy
Multi
Listing Agency:
Wilson Kibler
Listed By:
John Metts · License #89914
(803) 779-8600
Source:
Commercialcafe
Added: Sep 5
Last Checked: Sep 8 at 4:03AM
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 Wilson Kibler
Investment Insights
Based on property information with market context.
This retail property includes approximately 7,800 SF of restaurant space and a 3,000 SF dental suite leased through 2029. The restaurant occupant is relocating, creating availability within the 2019-built property. The site spans approximately 1.78 acres and provides 80 on-site parking spaces, along with monument signage facing Two Notch Road.
Located at 9704 Two Notch Rd in Columbia, the property sits along the Two Notch Road commercial corridor, with access to Interstate 77 and Interstate 20. The surrounding area includes established retail, commercial, and residential activity, with The Village at Sandhill, Spring Valley, and Sesquicentennial State Park nearby. More than 115,000 residents are located within a five-mile radius, and Two Notch Road carries approximately 37,000 VPD.
Located at 9704 Two Notch Rd in Columbia, the property sits along the Two Notch Road commercial corridor, with access to Interstate 77 and Interstate 20. The surrounding area includes established retail, commercial, and residential activity, with The Village at Sandhill, Spring Valley, and Sesquicentennial State Park nearby. More than 115,000 residents are located within a five-mile radius, and Two Notch Road carries approximately 37,000 VPD.
Key Highlights
- ±7,800 SF restaurant space available with tenant relocation
- ±3,000 SF leased dental suite through 2029
- ±1.78 AC site with 80 on‑site parking spaces
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
$174,975
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
5.93%
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%
$3,499,500
$3.5M
Cap Rate 7%
$2,499,643
$2.5M
Cap Rate 9%
$1,944,167
$1.9M
Market Conditions
NOI Build-Up for 10,828 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
$246.9K $22.80/SF
− Vacancy
−$13.6K −$1.25/SF
EGI
$233.3K $21.55/SF
− OpEx
−$58.3K −$5.39/SF
NOI
$175.0K $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%
$3,499,500
Cap Rate 7%
$2,499,643
Cap Rate 9%
$1,944,167
Alternative Uses
Best Use
Specialty Retail
$2.50M
$2.19M – $2.92M
NOI $174,975 @ 7.0% cap · market cap 5.93%
Second Best
Retail
$2.20M
$1.92M – $2.56M
NOI $153,896 @ 7.0% cap · market cap 5.22%
Theoretical Best
Office A
$2.67M
$2.33M – $3.11M
NOI $186,640 @ 7.0% cap · market cap 6.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
37,000 VPD
Traffic count
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
278
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - The property combines restaurant space with a leased dental suite.
Where is this retail space located?
The property is located at 9704 Two Notch Rd Columbia, SC.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: ±7,800 SF restaurant space available with tenant relocation; ±3,000 SF leased dental suite through 2029; ±1.78 AC site with 80 on‑site parking spaces
