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Property profile & analytics
FOR LEASE
Strip malls
1787 S Lake Dr, Lexington, SC 29073
Entity Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US77-0807705
For Lease
1 / 4
$4,725,000
1787 S Lake Dr, Lexington, SC 29073
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Property summary
AI-generated overview
Colonnade at White Knoll offers exceptional retail space in Lexington, South Carolina. This unanchored strip center totals 22,466 square feet and sits on a 2.45-acre lot. The property comprises three buildings with ten suites, offering multiple tenancy options. Currently, 2,300 square feet of retail space is available, divisible into units ranging from a minimum of 1,014 square feet to a maximum contiguous space of 1,286 square feet. Built in 2010, the center enjoys a prime location at 1787 South Lake Drive, Lexington, SC 29073, within Lexington County. Its high visibility from South Lake Drive, a road with a daily traffic volume of 26,000 vehicles, ensures significant exposure for businesses. This presents a unique opportunity for retailers seeking a well-located space in a thriving community within the Columbia MSA. The property's convenient location and ample parking provide an attractive environment for customers. This is an excellent opportunity to establish or expand your retail presence in a high-traffic area.
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2010
Total area
17,087 SF
Lot
2.45 ac (106,722 SF)
Zoning code
RD
APN
006500-03-117
UPID
US77-0807705
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Carolina Physical Therapy and Sports Medicine Physician
-
Tokyo Grill Restaurant
-
Ms. Sharon Smith Physician
-
Ms. Aliece Christopher Physician
-
CARLOS O'NEAL Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.73M
CAP Approach
CAP
$3.79M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.73M
Owner & transaction history
Zrp Colonnade LLC · 1 yrs held
Zrp Colonnade LLC
since 2024
Last sale
$4.7M
7 recorded transactions
Zoning & alternative use
RD · Lexington, SC
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$4.2M
+128.7%
Restaurant
$4.1M
+126.2%
Medical building
$3.6M
+99.7%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Lexington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lexington submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$4,725,000
ML approach
$4,725,000
CAP Approach
CAP Return
Estimation
6%
$4,105,000
6.5%
$3,790,000
7%
$3,520,000
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$4,155,000
Change: +129% · Conversion: Difficult
RESTAURANT
$4,110,000
Change: +126% · Conversion: Difficult
MEDICAL BUILDING
$3,625,000
Change: +100% · Conversion: Difficult
Blend value · Realmo final
$4.73M
Range $4.25M – $5.20M · ±10% · vs last sale $4.73M (Oct 9 2024)
Last sale anchor
$4.73M
Oct 9 2024
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$277 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$127,277
Tax year 2023
Assessed value
$258,936
Assessed 2023
Previous assessed
$258,936
+0.0% YoY
Effective rate
49.15%
On assessed value
Assessed land
$89,646
Assessed improvement
$169,290
Land market value
$1,494,100
Improvement market value
$2,821,500
Total market value
$4,315,600
Applied tax rate
1.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
For Lease
Year built
2010
Heating
NONE
Total area
17,087 SF
Lot
2.45 ac (106,722 SF)
Zoning code
RD
APN
006500-03-117
UPID
US77-0807705
Jurisdiction
LEXINGTON
Zoning & alternative use
RD · Lexington, SC
Zoning RD · permitted uses
RD · Lexington, SC
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lexington. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE
Est. value
$4.2M
RESTAURANT
Est. value
$4.1M
MEDICAL BUILDING
Est. value
$3.6M
AUTO REPAIR, GARAGE
RESTAURANT
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2010
Heating
NONE
Lot
2.45 ac
Current owner
From public records · entity-resolved
Zrp Colonnade LLC
Entity
Free & Clear · 1 yrs held
Mailing address
210 S WINGO WAY STE #400, MOUNT PLEASANT, SC 29464-1819
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 9, 2024
$4,725,000
Zrp Colonnade LLC
Cnm Enterprises LLC
Deed
—
Oct 9, 2024
—
Zrp Colonnade LLC
Cnm Enterprises LLC
Quit Claim Deed
related
$3,071,250 · First National Bank Of Pennsylvania
Mar 25, 2024
—
Cnm Enterprises LLC
—
Deed
related
$1,593,334 · First Bank
May 4, 2016
—
Cnm Ents LLC
Colonnade LP
Quit Claim Deed
—
May 4, 2016
$4,318,000
Cnm Ents LLC
Colonnade LP
Grant Deed
—
Jun 28, 2012
$1,400,000
Colonnade LP
Atlas Sc I Spe LLC
Grant Deed
—
Jun 28, 2012
—
Colonnade LP
Atlas Sc I Spe LLC
Quit Claim Deed
related
—
Jun 23, 2011
—
Atlas Sc I Spe LLC
Branch Bkng & Trust Co
Quit Claim Deed
related
—
Jun 23, 2011
$6,000
Atlas Sc I Spe LLC
White Knoll Partners LLC
Grant Deed
—
May 23, 2008
$1,150,000
White Knoll Partners LLC
Red Bank Associates LLC
Deed
—
Apr 26, 2005
$200,000
Red Bank Associates LLC
Dill,arthur
Grant Deed
$150,000 · James L Wright
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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