15-Unit Leased Apartment
For Sale
$2,625,000
2 Teal Court, North Augusta, SC 29841
Commercial Sale, North Augusta, SC
Property Size29,197 SF
Lot Size0.04 Acres
Price / SF$89.91
Days on Market115
Property Features for 2 Teal Court
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
?
Parking features
Parking Lot
Fireplace
1
Subdivision
Hammond Hills Villas
Directions
From downtown Augusta near 13th Street, take the 13th Street Bridge into North Augusta. Continue straight as the road becomes Georgia Avenue. Turn left onto West Martintown Road, then take a right onto Hammond Place Circle to enter Hammond Hill Villas.
Standard status
Active
APN
0061706014
Size
29,197 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
0061706014
Tax Annual Amount
15140
HOA Fee
$1,500 Annually
Legal Description
0061706014
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating), Electric (Heating), Natural Gas
Water source
Public
Amenities
pool
Building Details
Year built
1985
Number of units
15
Flooring type
Tile, Carpet
Building materials
Wood Siding
Roof type
Composition
Listing Agency:
Meybohm Commercial Properties
(706) 736-0700
Listed By:
Danielle Meikrantz · License #401159
(706) 284-8359
Added: May 15
Changed: Aug 19
Last Checked: Sep 6 at 4:06AM
MLS# 100574229
Copyright © 2026 Hive MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This apartment portfolio includes 15 townhomes with a mix of two- and three-bedroom floor plans ranging from approximately 1,100 to 1,469 square feet. Several residences feature loft spaces. The improvements total 29,197 square feet and were built in 1985, with wood siding, tile and carpet flooring, composition roofs, fireplaces, parking-lot access, public water, and public sewer.
All units are currently leased. The HOA provides landscaping, pool service, trash service, roof maintenance, and other community-related services, while tenants are responsible for utilities. The portfolio is self-managed and located at 2 Teal Court in North Augusta, South Carolina, within Hammond Hill Villas.
All units are currently leased. The HOA provides landscaping, pool service, trash service, roof maintenance, and other community-related services, while tenants are responsible for utilities. The portfolio is self-managed and located at 2 Teal Court in North Augusta, South Carolina, within Hammond Hill Villas.
Key Highlights
- 15 fully leased townhomes in the Hammond Hill Villas community
- Two- and three‑bedroom floor plans range from approximately 1,100 to 1,469 square feet
- Several units include loft spaces
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$231,117
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.80%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,622,340
$4.6M
Cap Rate 7%
$3,301,671
$3.3M
Cap Rate 9%
$2,567,967
$2.6M
Market Conditions
NOI Build-Up for 29,197 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$448.5K $15.36/SF
− Vacancy
−$28.3K −$0.97/SF
EGI
$420.2K $14.39/SF
− OpEx
−$189.1K −$6.48/SF
NOI
$231.1K $7.92/SF
Area
Aiken County, SC
Vacancy
6.30%
Lease Rate
$15.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,622,340
Cap Rate 7%
$3,301,671
Cap Rate 9%
$2,567,967
Alternative Uses
Best Use
Apartment 5plus
$3.30M
$2.89M – $3.85M
NOI $231,117 @ 7.0% cap · market cap 8.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.63M
$4.92M – $6.57M
NOI $393,949 @ 7.0% cap · market cap 15.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
15
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
247
Businesses Nearby
Explore this area
Business Placement
Demographics for 29841, SC
32,919
Population
16,474
Households
2
Avg Household Size
40
Median Age
32%
College-Educated
93%
High-School Grad
31.9 sq mi
ZIP Area
1,032
Density / Sq Mi
$72,811
Median Household Income
$46,447
Median Earnings
$1,050
Median Rent
$186,000
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully leased townhome collection with two- and three-bedroom layouts and HOA-maintained exterior services.
Where is this apartment building located?
The property is located at 2 Teal Court North Augusta, SC.
What is the asking price?
The asking price for this property is $2,625,000.
What are key features of this property?
This property features: 15 fully leased townhomes in the Hammond Hill Villas community; Two- and three‑bedroom floor plans range from approximately 1,100 to 1,469 square feet; Several units include loft spaces
