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    Property profile & analytics

    7520 Irmo Dr Columbia, SC 29212-8607

    • Office buildings
    • 2,623 SF
    • 0.56 lot acres
    OFF-MARKET
    Last Sale
    Sep 16, 2024
    $440,000
    Value Estimations
    $360,000
    Show details
    Cap Rate Potential
    9.7%
    Office buildings
    Location Intelligence
    Property ID
    US77-1024041
    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

    • Faceplant Skin Studio LLC / Spa
    • Norcom Mortgage: Jake Coker / Mortgage Broker
    • great rate lender / Mortgage Broker
    • Krae McCaskill Ellisor MLO / Mortgage Broker
    • Ashiatsu Columbia / Massage Therapist

    Property Details for 7520 Irmo Dr

    Year built
    1995
    Lot size
    0.56 lot acres
    Property size
    2,623 SF
    Zone code
    CN
    Property type
    Office buildings
    APN
    001931-03-004
    APU
    193103004

    Description

    This exceptional 2-story, 2,623 sq ft medical office building in Columbia, SC, presents a compelling investment opportunity. Located at 7520 Irmo Dr, in Lexington County, zip code 29212, this Class C property boasts 100% occupancy across its ten units, generating a strong NOI of $34,632 and a 7.55% cap rate. The asking price is $459,000, translating to $174.99 per square foot. Built in 1995, the building features a gross lease structure and sits on a single lot. Currently, the building offers 2,623 square feet of finished space on the main floor, with an additional approximately 800 square feet of unfinished space on the second floor, presenting a significant opportunity to increase rentable square footage and revenue. The property's convenient location, just five minutes from Interstate 26, ensures excellent accessibility. The current below-market rents offer substantial upside potential for future income growth. The property is zoned CN and is a multi-tenant building. This is an ideal investment for those seeking a stable, high-yield asset with significant value-add potential. The property is fully leased, providing immediate cash flow. This is a rare opportunity to acquire a well-maintained, fully occupied medical office building in a desirable location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $340,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $555,000
      6.5%
      $510,000
      7%
      $475,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $365,000
      Market price range: $209k - $419k
      AI Estimate
      $430,000
      Market price range: $212k - $459k

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

    Location Insight

    • Map
    • Local Demand
    City
    Columbia
    County
    Lexington
    State
    South Carolina
    Longitude
    -81.1897
    Latitude
    34.0881
    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
    $6,694
    $4,104
    $11,345
    $15,449
    -
    $68,400
    $189,070
    $257,470

    Comparable in this City

    • Value Estimation
      $420,000
      8,000 SF

      5125 Bush Riv Rd

      OFFICE BUILDING • 8,000 SF
      5125 Bush Riv Rd, Columbia, SC 29212-3650
      View Details
    • Value Estimation
      $380,000
      5,843 SF

      5721 Bush Riv Rd

      OFFICE BUILDING • 5,843 SF
      5721 Bush Riv Rd, Columbia, SC 29212-2609
      View Details
    • Value Estimation
      $405,000
      5,430 SF

      5539 Bush Riv Rd

      OFFICE BUILDING • 5,430 SF
      5539 Bush Riv Rd, Columbia, SC 29212-3006
      View Details
    • Value Estimation
      $375,000
      3,544 SF

      7505 Irmo Dr

      OFFICE BUILDING • 3,544 SF
      7505 Irmo Dr, Columbia, SC 29212-8637
      View Details
    • Value Estimation
      $390,000
      6,264 SF

      6168 Saint Andrews Rd

      OFFICE BUILDING • 6,264 SF
      6168 Saint Andrews Rd, Columbia, SC 29212-3122
      View Details
    • Value Estimation
      $335,000
      2,560 SF

      6158 Saint Andrews Rd

      OFFICE BUILDING • 2,560 SF
      6158 Saint Andrews Rd, Columbia, SC 29212-3122
      View Details

    Similar Nearby for Sale

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    • $300,000
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      Irmo Medical Office Building For Sale

      1,650 SF medical office, vacant, ample parking.
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    • $236,000
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      Columbia Commercial Land - I-26 Access

      2.95 Acres, M-1 Zoning, Prime Location
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    • Contact for pricing
      2 SF

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      2.09 AC development site in NW Columbia off I-26.
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    Similar Nearby for Lease

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      Medical office building with high visibility and accessibility.
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    • $18 SF/Yr
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      Office Space with Private Deck

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    • $15 SF/Yr
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      Columbia Medical Office Building

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      Regional Shopping Center Space Available

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    Columbia, SC 29212-8607
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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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