Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1223 St Andrews Rd Columbia, SC 29210
    Property profile & analytics

    1223 St Andrews Rd, Columbia, SC 29210

    View on Map
    • Retail properties & Spaces
    • 14,820 SF
    • 1.85 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 1223 St Andrews Rd

    Year built
    2005
    Lot size
    1.85 lot acres
    Property type
    Retail properties & Spaces
    Property subtype
    Drug stores

    Description

    This exceptional investment opportunity presents a 14,820-square-foot, single-tenant Walgreens pharmacy located at 1223 St Andrews Rd, Columbia, SC 29210. The property, built in 2005, sits on a 1.85-acre lot with 62 parking spaces and benefits from a highly visible, signalized corner location experiencing over 50,000 cars daily. The absolute NNN lease, with a remaining term of 5.9 years (expiring 05/31/2080), offers a passive investment with minimal landlord responsibilities. The current asking price is $4,622,222, representing a price per square foot of $311.89 and a 6.75% cap rate. The property boasts a strong net operating income (NOI) of $312,000, with 100% occupancy since May 30, 2020. The property is zoned GC and features a single-story building. This investment is further enhanced by Walgreens' long-standing presence (since 2005) and the robust growth experienced in the Columbia, South Carolina market, fueled by the presence of the University of South Carolina and Fort Jackson. The lease is a fee simple ownership with no ground lease or rent bumps. This presents a compelling opportunity for investors seeking a stable, high-performing asset in a desirable location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Columbia
    County
    Richland
    State
    South Carolina
    Longitude
    -81.1069
    Latitude
    34.0502

    Comparable in this City

    • Value Estimation by Request
      43,520 SF

      1316-1324 Bush River Rd

      Wedding venues
      1316-1324 Bush River Rd, Columbia, SC 29210
      View Details
    • Value Estimation by Request
      9,180 SF

      942 Broad River Rd

      Individual retail properties
      942 Broad River Rd, Columbia, SC 29210
      View Details
    • Value Estimation by Request
      41,921 SF

      3603 Broad River Rd

      Individual retail properties
      3603 Broad River Rd, Columbia, SC 29210
      View Details
    • Value Estimation by Request
      3,233 SF

      538 St Andrews Rd

      Individual retail properties
      538 St Andrews Rd, Columbia, SC 29210
      View Details
    • Value Estimation by Request
      13,900 SF

      3104-3106 Broad River Rd

      Neighborhood centers
      3104-3106 Broad River Rd, Columbia, SC 29210
      View Details
    • Value Estimation by Request
      5,376 SF

      4526 Saint Andrews Rd

      NURSERY, GREENHOUSE, FLORIST
      4526 Saint Andrews Rd, Columbia, SC 29210
      View Details

    Similar Nearby for Sale

    • $3,200,000
      17,817 SF

      High-Demand Retail Property, Columbia SC

      Prime Retail Location, High Traffic Count, Immediate Income
      1332 Broad River Rd, Columbia, SC 29210
      View Details
    • $460,000
      0.59 Acres

      Commercial Property on Busy Road

      Commercial property with vacant lot on a busy road.
      1119 Broad River Rd, Columbia, SC 29210
      View Details
    • $795,000
      3,068 SF

      Retail Space on Broad River

      Retail space with drive-thru and ample parking available for sale.
      1939 Broad River Rd, Columbia, SC 29210
      View Details
    • Contact for pricing
      5,562 SF

      Retail Strip For Sale

      Retail strip center with expansion potential in a bustling location.
      4508 Saint Andrews Rd, Columbia, SC 29210
      View Details
    • Contact for pricing
      9,261 SF

      Mixed-Use Building on Large Lot

      Freestanding mixed-use building with highway frontage and redevelopment potential.
      3905 Fernandina Rd, Columbia, SC 29210
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,586 SF

      Restaurant Space with Pylon Sign

      Restaurant space with high traffic, near I-20 and I-26.
      4505 Broad River Rd, Columbia, SC 29210
      View Details
    • Contact for pricing
      1,242 SF

      Retail Space Available For Lease

      Retail space available for lease in Columbia, South Carolina.
      1441 Colonial Life Blvd W, Columbia, SC 29210
      View Details
    • Contact for pricing
      3,800 SF

      Office/Retail Space Near Riverbanks Zoo

      1,600 SF office/retail space with frontage on Interstate 126.
      208 Candi Ln, Columbia, SC 29210
      View Details
    • Contact for pricing
      1,416 SF

      Retail Spaces Available For Rent

      Retail spaces starting at approximately 1,600 sqft for rent.
      652 Bush River Rd, Columbia, SC 29210
      View Details
    • Contact for pricing
      4,450 SF

      Retail/Flex Space Available

      Retail/flex space with ample parking, available December 2025.
      570 Saint Andrews Rd, Columbia, SC 29210
      View Details
    • Contact for pricing
      1,000 SF

      Retail Space on Broad River

      Retail units available for lease on Broad River Road.
      3104 Broad River Rd, Columbia, SC 29210
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1223 St Andrews Rd
    Columbia, SC 29210
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1223 St Andrews Rd, Columbia, SC, 29210
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!