Listed by Southern Vision Real estate
$550,000
120 Old Chapin Rd
Details
APN 004323-03-003
Property Type Office
Sub Type Executive Office, Medical Office
Square Footage 2,272
Tenancy Vacant
Pro-Forma Cap Rate 5%
Pro-Forma NOI $27,496
Price per SqFt $242
Broker Co-Op Yes
Year Built 1900
Acreage 0.730
Investment Type Owner/User
Centralized 2,272 sq ft Office Space
Marketing description
- High traffic area strategically located off 378 and Old Chapin Road. Great frontage reaching a median household income of $94k.
- Incredible opportunity in the heart of Lexington! Remodeled 120 Old Chapin Rd, ±.73-acre site just off Sunset Blvd (US-378)—one of Lexington’s highest-traffic corridors.
- 1 Mile to Lexington County Courthouse
- Located less than 2 miles from the Lake Murray Dam and minutes to downtown Lexington, this corner of Old Chapin offers excellent visibility, accessibility, and proximity to retail, medical, and professional offices.
- Existing home is on the property but hold no contributory value and will not be shown. Property is being sold for land value only.
- Zoned Residential-Improved buyer to verify zoning and intended use with the Town of Lexington.
- Prime location has great investment potential (now or future) for commercial for professional office, medical, retail, or potential redevelopment property.
Investment highlights
Pro Forma based on $550k purchase price
(Base Case: no vacancy, no other OpEx)
Income
Scheduled Rent: $3,800/mo × 12 = $45,600/yr
Operating Expenses
NOI
NOI = $45,600 − $18,103.45 = $27,496.55 / yr
NOI per month: $27,496.55 ÷ 12 = $2,291.38 / mo
Cap Rate (on $550,000 purchase price)
Cap Rate = $27,496.55 ÷ $550,000 = 5.00%
Listing Contacts
Listed by Southern Vision Real estate
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