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

    5135 Sunset Blvd Lexington, SC 29072

    • Community centers
    • 85,600 SF
    • 22.08 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US77-1232673
    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

    • Lane Bryant / Clothing & Fashion Store
    • Salsarita's Fresh Mexican Grill / Take-out & Catering / Catering Service
    • Crumbl - Lexington / Bakery / Specialty Food Shop
    • HandPicked / (Bike/Boat/Book/etc) Store
    • America's Best Contacts & Eyeglasses / Eye Care Center / Contact Lenses Supplier

    Property Details for 5135 Sunset Blvd

    Year built
    2007
    Lot size
    22.08 lot acres
    Property size
    85,600 SF
    Property type
    Community centers
    APN
    004496-02-123
    APU
    449602123

    Description

    Lexington Pavilion, a 114,088 square foot retail community center, presents a unique investment opportunity. Located at 5135 Sunset Blvd, Lexington, SC 29072, this property boasts a prime location on a high-traffic corridor with over 41,000 cars daily. Built in 2006, the center features 767 parking spaces and benefits from a signalized entrance on Sunset Blvd, ensuring easy accessibility. Currently, the entire 114,089 square feet is vacant, offering significant potential for redevelopment or lease. The center is strategically positioned less than 3 miles from I-20 and downtown Lexington, within the rapidly growing Columbia, SC MSA. Lexington, SC has experienced nearly a 10% population increase in the last three years. The property is shadow-anchored by Target and includes a strong tenant mix of national and regional brands such as Best Buy, PetSmart, World Market, Kay Jewelers, Fab’rik, Chicken Salad Chick, Lane Bryant, Salsarita's, and Five Guys Burgers & Fries. This location benefits from the presence of numerous national and international companies in Lexington, including Amazon, US Foods, and others. The property's size, location, and existing tenant base make it an attractive proposition for investors seeking a high-growth market. The significant vacancy presents a blank canvas for a new vision.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $9,733,000
      Market price range: $4.03M - $14.0M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $9,100,000
      Current use
      COMMERCIAL (GENERAL)
      $14,175,000
      Change: +56% Conversion: Easy
      OFFICE BUILDING
      $12,160,000
      Change: +34% Conversion: Moderate
      RETAIL STORES
      $9,695,000
      Change: +7% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Lexington
    County
    Lexington
    State
    South Carolina
    Longitude
    -81.1958
    Latitude
    34.0053
    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
    $310,939
    $198,099
    $402,651
    $600,750
    -
    $3,301,650
    $6,710,850
    $10,012,500

    Comparable in this City

    • Value Estimation
      $8,765,000
      85,261 SF

      5454 Sunset Blvd

      MINI-MALL • 85,261 SF
      5454 Sunset Blvd, Lexington, SC 29072-7355
      View Details
    • Value Estimation by Request

      2550 Augusta Hwy

      Lifestyle centers
      2550 Augusta Hwy, Lexington, SC 29072
      View Details
    • Value Estimation by Request
      61,505 SF

      421 Columbia Ave

      Community centers • 61,505 SF
      421 Columbia Ave, Lexington, SC 29072
      View Details
    • Value Estimation by Request
      6,600 SF

      903 Lk Dr

      SHOPPING CENTER, STRIP CENTER • 6,600 SF
      903 Lk Dr, Lexington, SC 29072-2157
      View Details
    • Value Estimation
      $720,000
      5,950 SF

      1965 Augusta Hwy

      SHOPPING CENTER, STRIP CENTER • 5,950 SF
      1965 Augusta Hwy, Lexington, SC 29072-2205
      View Details
    • Value Estimation
      $945,000
      12,000 SF

      116 Whiteford Way

      WHOLESALE OUTLET, DISCOUNT STORE • 12,000 SF
      116 Whiteford Way, Lexington, SC 29072-7617
      View Details

    Similar Nearby for Sale

    • $1,350,000
      5,600 SF

      Lexington Retail Space - High Visibility

      Prime Downtown Location, 5600 sq ft, 28+ parking spaces
      451 Columbia Ave, Lexington, SC 29072
      View Details
    • $1,750,000
      8,537 SF

      Development Land in Lexington, SC

      2.93 acres suitable for hotel, restaurant, or medical development.
      411 W Main St, Lexington, SC 29072
      View Details
    • $2,500,000
      30,000 SF

      Former Bowling Alley with Potential

      30,000 SF property suitable for retail, office, or community center.
      5380 Augusta Rd, Lexington, SC 29072
      View Details
    • $2,500,000
      3.00 Acres

      Lexington Retail Lot - 3 Acres

      High-traffic location, ideal for redevelopment.
      750 Main St, Lexington, SC 29072
      View Details
    • Contact for pricing
      7,500 SF

      Lexington Commercial Property

      7,500 SF Office/Retail Building
      200 Wise Ferry Rd, Lexington, SC 29072
      View Details
    • $1,100,000
      6,087 SF

      Office/Retail Space with Outdoor Area

      Office and retail space with patio near Downtown Lexington.
      808 S Lake Dr, Lexington, SC 29072
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      114,088 SF

      Lexington Pavilion: Retail Center

      Target-shadowed shopping center in Lexington, SC
      5135 Sunset Blvd, Lexington, SC 29072
      View Details
    • Contact for pricing
      131,809 SF

      Lexington Towne Centre Retail Space

      High-traffic retail space in Lexington, SC
      918 Lake Dr, Lexington, SC 29072
      View Details
    • Contact for pricing
      61,505 SF

      Lexington Retail Center Opportunity

      High-traffic, 61,505 SF community center
      421 Columbia Ave, Lexington, SC 29072
      View Details
    • Contact for pricing
      8,720 SF

      Revitalized Retail Space on Main

      Retail space with visibility in Lexington's Main Street District.
      102 W Main St, Lexington, SC 29072
      View Details
    • $25 SF/Yr
      888 SF

      Lexington Retail Space For Lease

      Retail suites available in Lexington, undergoing extensive renovation.
      1812 Augusta Hwy, Lexington, SC 29072
      View Details
    • $18 SF/Yr
      2,975 SF

      Lexington Shopping Center Retail Space

      Retail space available in a shopping center anchored by Food Lion.
      712 W Main St, Lexington, SC 29072
      View Details
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    Lexington, SC 29072
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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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