Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1615 Wayne St Columbia, SC 29201-2749

    • Commercial real estate
    • 2,190 SF
    OFF-MARKET
    Last Sale
    May 17, 2024
    $117,500
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US77-0361616
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Howard Engineering Inc, Wayne Street / Engineer
    • Jim Brown / Real Estate Agency

    Property Details for 1615 Wayne St

    Year built
    1929
    Construction
    FRAME
    Property size
    2,190 SF
    Zone code
    C-1
    Property type
    Commercial real estate
    APN
    R09009-03-03
    APU
    R090090303

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Columbia
    County
    Richland
    State
    South Carolina
    Longitude
    -81.0447
    Latitude
    34.0046
    CBSA code
    17900
    CBSA name
    COLUMBIA, SC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $4,621
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $0.00
    $161,000

    Comparable in this City

    • Value Estimation by Request
      45,000 SF

      2180 Pickens St

      Restaurants • 45,000 SF
      2180 Pickens St, Columbia, SC 29201
      View Details
    • Value Estimation by Request

      1413 Pickens St

      COMMERCIAL (GENERAL)
      1413 Pickens St, Columbia, SC 29201-3431
      View Details
    • Value Estimation by Request
      1.81 Acres

      1027 Rosewood Dr

      COMMERCIAL (GENERAL) • 1.81 Acres
      1027 Rosewood Dr, Columbia, SC 29201-4718
      View Details
    • Value Estimation by Request

      915 Sumter St

      COMMERCIAL (GENERAL)
      915 Sumter St, Columbia, SC 29201-3961
      View Details
    • Value Estimation by Request
      0.50 Acres

      1336 Old Dairy Dr

      COMMERCIAL (GENERAL) • 0.50 Acres
      1336 Old Dairy Dr, Columbia, SC 29201-4838
      View Details
    • Value Estimation by Request

      101 Park St

      COMMERCIAL (GENERAL)
      101 Park St, Columbia, SC 29201-4223
      View Details

    Similar Nearby for Sale

    • $1,295,000
      1.82 Acres

      Columbia Commercial Land - Gervais St.

      1.82 Acres, Prime Columbia Location
      1922 Gervais St, Columbia, SC 29201
      View Details
    • $675,000
      26.00 Acres

      I-77 Columbia Commercial Land

      26 Acres, I-77 Frontage, High Visibility
      0 I-77, Columbia, SC 29201
      View Details
    • $1,999,000
      16,000 SF

      Downtown Columbia Mixed-Use Building

      16,000 SF, prime location, high visibility.
      1276 Assembly St, Columbia, SC 29201
      View Details
    • $1,500,000
      6,000 SF

      Prime Columbia Retail Space

      6,000 SF Retail/Office Opportunity
      530 Lady St, Columbia, SC 29201
      View Details
    • Contact for pricing
      12,170 SF

      Historic Vista Building with Parking

      Historic mixed-use building in The Vista with parking lot.
      925 Park St, Columbia, SC 29201
      View Details
    • Contact for pricing
      1,760 SF

      Downtown Columbia Retail Space

      Retail space for sale in downtown Columbia.
      1208 Laurel St, Columbia, SC 29201
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      12,530 SF

      WestLawn Retail: Columbia, SC

      Prime Retail Space in BullStreet District
      2151 Pickens St, Columbia, SC 29201
      View Details
    • $6 SF/Yr
      6,249 SF

      Columbia Office Space for Lease

      Flexible Workspaces in Downtown Columbia
      1501 Main Columbia St, Columbia, SC 29201
      View Details
    • $24 SF/Yr
      11,372 SF

      Lady Street Creative Office Suites

      Downtown Vista: Stylish Office Space
      911 Lady St, Columbia, SC 29201
      View Details
    • $14 SF/Yr
      96,774 SF

      Widewater Square Shopping Center

      Retail space available, Richland County.
      3315 Broad River Rd, Columbia, SC 29201
      View Details
    • Contact for pricing
      2,840 SF

      Unique Office Space in Vista

      Historical office space with modern finishes in Columbia's Vista.
      1001 Gervais St, Columbia, SC 29201
      View Details
    • Contact for pricing
      6,100 SF

      Downtown Columbia Restaurant Space Available

      Class A restaurant space in a high-traffic downtown location.
      1300 Sumter St, Columbia, SC 29201
      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.
    1615 Wayne St
    Columbia, SC 29201-2749
    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

    Google sign-in failed. Please try again or use another login method.