7520 Irmo DrColumbia, SC 29212

Property Details for 7520 Irmo Dr

Year built

1995

Lot size

0.56 AC

Property size (Sq ft)

2,623 SF

Zone code

CN

Property type

Office properties

Property subtype

Office buildings

APN

001931-03-004

APU

193103004

Description

This exceptional 2-story, 2,623 sq ft medical office building in Columbia, SC, presents a compelling investment opportunity. Located at 7520 Irmo Dr, in Lexington County, zip code 29212, this Class C property boasts 100% occupancy across its ten units, generating a strong NOI of $34,632 and a 7.55% cap rate. The asking price is $459,000, translating to $174.99 per square foot. Built in 1995, the building features a gross lease structure and sits on a single lot. Currently, the building offers 2,623 square feet of finished space on the main floor, with an additional approximately 800 square feet of unfinished space on the second floor, presenting a significant opportunity to increase rentable square footage and revenue. The property's convenient location, just five minutes from Interstate 26, ensures excellent accessibility. The current below-market rents offer substantial upside potential for future income growth. The property is zoned CN and is a multi-tenant building. This is an ideal investment for those seeking a stable, high-yield asset with significant value-add potential. The property is fully leased, providing immediate cash flow. This is a rare opportunity to acquire a well-maintained, fully occupied medical office building in a desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $394,480

  6.5%

  $364,135

  7%

  $338,126

• Comparable approach

  Method

  Valuation

  Relative Method

  $191,926

  Geo Method

  $444,179

• Alternative Use

  Use

  Valuation

  Residential

  $451,528

  Hospitality

  $413,597

  Educational

  $344,108

  Medical

  $355,942

  Retail

  $535,279

Location Insight

City

Columbia

County

Lexington

State

South Carolina

Latitude

34.0881

Longitude

-81.1897

CBSA code

17900

CBSA name

COLUMBIA, SC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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