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
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2440 Millwood Ave Columbia, SC 29205-1128

    • Commercial real estate
    • 8,387 SF
    OFF-MARKET
    Value Estimations
    $980,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US77-0227028
    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

    • Wfnv Gospel 95 / Radio Station / Telecommunications Service
    • WQXL / Radio Station / Telecommunications Service
    • WGCV / Radio Station / Telecommunications Service
    • Millennial FM / Radio Station / Telecommunications Service
    • WFMV 96.1FM & 620AM / Radio Station / Telecommunications Service

    Property Details for 2440 Millwood Ave

    Year built
    1970
    Construction
    FRAME
    Property size
    8,387 SF
    Zone code
    RM-1
    Property type
    Commercial real estate
    APN
    R11410-19-16
    APU
    R114101916

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $979,000
      Market price range: $622k - $1.51M
      AI Estimate
      $979,000
      Market price range: $622k - $1.51M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $980,000
      Current use
      OFFICE BUILDING
      $975,000
      Change: -1% Conversion: Easy
      RETAIL STORES
      $925,000
      Change: -5% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Columbia
    County
    Richland
    State
    South Carolina
    Longitude
    -81.012
    Latitude
    34.0064
    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
    $13,598
    $0.00
    $0.00
    $0.00
    -
    $0.00
    $0.00
    $473,900

    Comparable in this City

    • Value Estimation by Request
      0.55 Acres

      Ss Jim Hamilton Blvd

      COMMERCIAL (GENERAL) • 0.55 Acres
      Ss Jim Hamilton Blvd, Columbia, SC 29205
      View Details
    • Value Estimation by Request
      0.69 Acres

      Ss Mitchell St

      COMMERCIAL (GENERAL) • 0.69 Acres
      Ss Mitchell St, Columbia, SC 29205
      View Details
    • Value Estimation by Request
      0.17 Acres

      Ws Hilton St

      COMMERCIAL (GENERAL) • 0.17 Acres
      Ws Hilton St, Columbia, SC 29205
      View Details
    • Value Estimation by Request
      2.72 Acres

      500 Superior St

      COMMERCIAL (GENERAL) • 2.72 Acres
      500 Superior St, Columbia, SC 29205-3729
      View Details
    • Value Estimation by Request

      2202 Rosewood Dr

      COMMERCIAL (GENERAL)
      2202 Rosewood Dr, Columbia, SC 29205-3743
      View Details
    • Value Estimation by Request

      719 King St

      COMMERCIAL (GENERAL)
      719 King St, Columbia, SC 29205-1705
      View Details

    Similar Nearby for Sale

    • $1,800,000
      1,050 SF

      Devine Street Retail Portfolio

      Columbia, SC: Two Storefronts, High Income
      4439 Devine St, Columbia, SC 29205
      View Details
    • Contact for pricing
      2,920 SF

      Retail Property in Five Points

      Retail property for sale in Columbia's Five Points district.
      2026 College St, Columbia, SC 29205
      View Details
    • Contact for pricing
      1,859 SF

      Office Space For Sale

      Office space featuring four offices on a 0.26 AC lot.
      615 Ott Rd, Columbia, SC 29205
      View Details
    • Contact for pricing
      4,200 SF

      Office Space on Millwood Avenue

      Office building featuring multiple offices, conference rooms, and on-site parking.
      2901-2903 Millwood Ave, Columbia, SC 29205
      View Details
    • Contact for pricing
      4,200 SF

      Freestanding Office Building For Sale

      4,200 SF office building for sale or lease.
      2901 Millwood Ave, Columbia, SC 29205
      View Details
    • $795,000
      11,431 SF

      Columbia Warehouse Near Owens Field

      11,431 SF warehouse for sale or lease in Columbia.
      2230 Commerce Dr, Columbia, SC 29205
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      6,600 SF

      Rosewood Drive Restaurant Opportunity

      Prime Retail Space, High Traffic Area
      2719 Rosewood Dr, Columbia, SC 29205
      View Details
    • $24 SF/Yr
      6,605 SF

      Prime Columbia Executive Office Space

      Class A Office Suite, 3,402 SF Available
      3112 Devine St, Columbia, SC 29205
      View Details
    • $1,950 /Mo

      Fenced Parking Lot in Five Points

      Fenced parking lot for lease in Columbia's Five Points.
      1102 Harden Street Ext, Columbia, SC 29205
      View Details
    • Contact for pricing
      800 SF

      Retail Spaces on Rosewood Drive

      Retail spaces with frontage and visibility on Rosewood Drive.
      2754-2764 Rosewood Dr, Columbia, SC 29205
      View Details
    • $21 SF/Yr
      2,025 SF

      Retail Space on Devine Street

      Retail or office suites with ample parking and great visibility.
      2414 Devine St, Columbia, SC 29205
      View Details
    • Contact for pricing
      1,463 SF

      Updated Office Space Available

      Office space with improvements and conducive layout for various uses.
      3145 Carlisle St, Columbia, SC 29205
      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.
    2440 Millwood Ave
    Columbia, SC 29205-1128
    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.