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    Property profile & analytics

    1788 S Lake Dr Lexington, SC 29073

    • Community centers
    • 5,355 SF
    • 4.93 lot acres
    For Lease
    View listing
    Last Sale
    Nov 01, 2022
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US77-1471740
    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

    • Little Caesars Pizza / Restaurant
    • Cricket Wireless Authorized Retailer / Mobile Phone Store / Electronics & Wireless Store
    • Shoppes At White Knoll / Shopping Center & Mall
    • US Wings & Deli- Red Bank / Restaurant
    • Edible Arrangements / (Bike/Boat/Book/etc) Store / Florist

    Property Details for 1788 S Lake Dr

    Year built
    2007
    Lot size
    4.93 lot acres
    Property size
    5,355 SF
    Property type
    Community centers
    APN
    007600-04-119
    APU
    760004119

    Description

    This exceptional retail opportunity is located within the thriving Shoppes at White Knoll shopping center in Lexington, South Carolina. The center boasts a total of 203,819 square feet and is anchored by a Walmart. This prime location offers excellent visibility and accessibility, situated at 1788 & 1792 South Lake Drive, zip code 29073, in Lexington County. Currently, there is only one retail space remaining, measuring 1,200 square feet, perfect for a variety of businesses. The center features a strong tenant mix including established national and local brands such as US Wings & Deli, Sports Clips, Sally Beauty, The UPS Store, Game Stop, Dollar Tree, Little Caesar's Pizza, Highway 55, and Cricket Wireless. This vibrant shopping center benefits from high foot traffic generated by the anchor tenant and diverse range of existing businesses. The property is classified as a multi-tenant shopping center. This is a rare opportunity to secure a space in a well-established and successful retail center in a rapidly growing area of Lexington County, South Carolina. Don't miss out on this chance to establish your business in a high-traffic, convenient location. The available space is part of 40,100 square feet of inline retail space within the larger shopping center.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $874,000
      Market price range: $252k - $874k

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $570,000
      Current use
      MEDICAL BUILDING
      $1,135,000
      Change: +100% Conversion: Difficult
      OFFICE BUILDING
      $715,000
      Change: +25% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $645,000
      Change: +13% Conversion: Easy
      RETAIL STORES
      $605,000
      Change: +7% Conversion: Easy
      WAREHOUSE, STORAGE
      $470,000
      Change: -18% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Lexington
    County
    Lexington
    State
    South Carolina
    Longitude
    -81.2275
    Latitude
    33.9117
    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
    $79,421
    $64,963
    $96,621
    $161,584
    -
    $1,082,713
    $1,610,340
    $2,693,053

    Comparable in this City

    • Value Estimation
      $2,450,000
      54,747 SF

      1856 Lk Dr

      SHOPPING CENTER, STRIP CENTER • 54,747 SF
      1856 Lk Dr, Lexington, SC 29073-7225
      View Details
    • Value Estimation by Request
      4,085 SF

      5518 Platt Spgs Rd

      SHOPPING CENTER, STRIP CENTER • 4,085 SF
      5518 Platt Spgs Rd, Lexington, SC 29073
      View Details
    • Value Estimation
      $2,035,000
      7,200 SF

      1766 Lk Dr

      SHOPPING CENTER, STRIP CENTER • 7,200 SF
      1766 Lk Dr, Lexington, SC 29073-6873
      View Details
    • Value Estimation
      $6,320,000
      54,540 SF

      5441 Platt Spgs Rd

      SHOPPING CENTER, STRIP CENTER • 54,540 SF
      5441 Platt Spgs Rd, Lexington, SC 29073-9260
      View Details
    • Value Estimation
      $530,000
      11,408 SF

      1223 Lk Dr

      SHOPPING CENTER, STRIP CENTER • 11,408 SF
      1223 Lk Dr, Lexington, SC 29073-6889
      View Details
    • Value Estimation
      $4,725,000
      17,087 SF

      1787 Lk Dr

      SHOPPING CENTER, STRIP CENTER • 17,087 SF
      1787 Lk Dr, Lexington, SC 29073-6736
      View Details

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    Similar Nearby for Lease

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      Retail Strip Center For Lease

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    1788 S Lake Dr
    Lexington, SC 29073
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    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
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