Retail or Office / The Vista
1219 Wayne Street, Columbia, SC 29201
Size: 2,650 sq ft
In January 2017, our investment team purchased this 2,650 square foot building in the heart of Columbia, SC’s historic Vista. The building had been owned by a family trust and was home to a high-end kitchen shop. With a death in the family, the shop closed and the location had been “for lease” for two years.
In addition to the facility’s sought-after location in the city’s busy historic district, the building offered many attractive features including a wide open floor plan, exposed brick walls, exposed barrel style HVAC ductwork, track lighting, an open wooden deck ceiling and solid construction. The location is well positioned for destination retail or office space.
Our team secured tax relief under the city’s Bailey Bill, freezing property taxes at only $2,500 a year for 20 years, as opposed to $10,000 at purchase. The team made improvements to the property including new HVAC, roof work, exterior improvements to windows and doors, brick treatment and copper gutters and downspouts.
The property is a unique investment in a smaller freestanding property in a growing area and remains in the Cypress portfolio. Goodwyn, Mills & Cawood, a privately-held architectural and engineering firm with 16 offices in the Southeast occupied the space on February 1, 2018 under a 5 year lease.