Renovating Medical Office
For Sale
Under Contract
$247,500
410 University Parkway, Aiken, SC 29801
Commercial Sale, Aiken, SC
Property Size1,120 SF
Lot Size0.03 Acres
Price / SF$220.98
Days on Market33
Property Features for 410 University Parkway
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
O
Parking
100
Directions
From downtown Aiken take Richland Ave W towards Augusta (west) to University Parkway. Right onto University Parkway and continue to Aiken Medical Center building just past Aiken Regional Medical Center. Suite is located on the lower level.
Subdivision
NW
Standard status
Active Under Contract
APN
0871502029
Size
1,120 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Description
Apt Parcel 1300 Aiken Med Center
Legal Description
Apt Parcel 1300 Aiken Med Center
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Forced Air, Electric (Heating)
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
1985
Floors in Building
1
Flooring type
Carpet, Laminate
Building materials
Block, Brick Veneer
Roof type
Built-Up
Listing Agency:
RE/MAX Tattersall Group · RE/MAX International
(803) 226-0036
Listed By:
Tad D Barber · License #2264
(803) 439-6559
Added: Aug 10
Changed: Sep 3
Last Checked: Sep 11 at 12:06PM
MLS# 224910
Copyright © 2026 Aiken Association of REALTORS®. 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 1,120-square-foot medical office suite was built in 1985 and is currently being renovated by a new tenant for medical education use. Interior finishes include laminate and carpet flooring, with electric forced-air heating and central electric cooling. The building features block and brick veneer construction, a built-up roof, cable availability, public water, and public sewer service.
Located at 410 University Parkway in Aiken, South Carolina, the property is subject to a new five-year lease beginning September 1, with renewal options and rent increases at renewal. The lease assigns regime payments, taxes, and insurance to the tenant, while operating costs are adjusted annually based on actual expenses. Suite 1200 is also available for sale and is being renovated for the same medical education use.
Located at 410 University Parkway in Aiken, South Carolina, the property is subject to a new five-year lease beginning September 1, with renewal options and rent increases at renewal. The lease assigns regime payments, taxes, and insurance to the tenant, while operating costs are adjusted annually based on actual expenses. Suite 1200 is also available for sale and is being renovated for the same medical education use.
Key Highlights
- 1,120‑square‑foot medical office suite
- New five‑year lease begins September 1, with renewal options and rent increases at renewal
- 8% return on investment stated in the lease offering
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
$11,554
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
4.67%
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%
$231,080
$231.1K
Cap Rate 7%
$165,057
$165.1K
Cap Rate 9%
$128,378
$128.4K
Market Conditions
NOI Build-Up for 1,120 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
$16.8K $15.00/SF
− Vacancy
−$1.4K −$1.25/SF
EGI
$15.4K $13.76/SF
− OpEx
−$3.9K −$3.44/SF
NOI
$11.6K $10.32/SF
Area
Aiken County, SC
Vacancy
8.30%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
25.00%
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%
$231,080
Cap Rate 7%
$165,057
Cap Rate 9%
$128,378
Alternative Uses
Best Use
Office B
$165.1K
$144.4K – $192.6K
NOI $11,554 @ 7.0% cap · market cap 4.67%
Second Best
Healthcare Medical
$37.0K
$32.4K – $43.2K
NOI $2,593 @ 7.0% cap · market cap 1.05%
Theoretical Best
Office A
$215.9K
$188.9K – $251.9K
NOI $15,112 @ 7.0% cap · market cap 6.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
495
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 29801, SC
27,613
Population
13,543
Households
2
Avg Household Size
41
Median Age
28%
College-Educated
84%
High-School Grad
88.9 sq mi
ZIP Area
311
Density / Sq Mi
$55,032
Median Household Income
$36,804
Median Earnings
$1,070
Median Rent
$163,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in South region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical suite undergoing tenant renovations with public water and sewer service.
Where is this medical office space located?
The property is located at 410 University Parkway Aiken, SC.
What is the asking price?
The asking price for this property is $247,500.
What are key features of this property?
This property features: 1,120‑square‑foot medical office suite; New five‑year lease begins September 1, with renewal options and rent increases at renewal; 8% return on investment stated in the lease offering
