Medical Office Space Under
For Sale
Under Contract
$595,000
410 University Parkway, Aiken, SC 29801
Commercial Sale, Aiken, SC
Property Size2,642 SF
Lot Size0.06 Acres
Price / SF$225.21
Days on Market33
Property Features for 410 University Parkway
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
O
Parking
300
Window features
Insulated Windows
Interior features
Elevator
Accessibility
Accessible Approach with Ramp, Accessible Elevator Installed
Lot features
Landscaped, Landscaped
Directions
From downtown Aiken take Richland Av W towards Augusta (westerly direction) to University Parkway. Right onto University Pkwy to property on right just past Aiken Regional Hospital. Building is called Aiken Medical Center building.
Subdivision
NW
Standard status
Active Under Contract
APN
0871502030
Size
2,642 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Description
Apt Parcel 1200 Aiken Med Centeramca Suite 1200
Legal Description
Apt Parcel 1200 Aiken Med Centeramca Suite 1200
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
1985
Floors in Building
1
Flooring type
Carpet, Concrete
Building materials
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# 224909
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 2,642-square-foot medical office space at 410 University Parkway is undergoing renovation and includes an elevator, accessible approach with ramp, brick veneer construction, carpet and concrete flooring, central air, and electric heating. The building dates to 1985 and is served by public water and public sewer. Cable service is available.
A new five-year lease is available, with full lease payments scheduled to begin September 1, 2026. The tenant is expected to use the space for medical education purposes, while an adjacent suite is leased to the same tenant on matching terms. The association covers most operating costs through its regime fee; the tenant is responsible for property taxes, regime, and insurance costs, while condo insurance and interior janitorial service are excluded. Association-approved uses also include certain professional services and select retail categories, including medical-related retail, food service, pharmacy, and eyewear.
A new five-year lease is available, with full lease payments scheduled to begin September 1, 2026. The tenant is expected to use the space for medical education purposes, while an adjacent suite is leased to the same tenant on matching terms. The association covers most operating costs through its regime fee; the tenant is responsible for property taxes, regime, and insurance costs, while condo insurance and interior janitorial service are excluded. Association-approved uses also include certain professional services and select retail categories, including medical-related retail, food service, pharmacy, and eyewear.
Key Highlights
- 2,642 square feet of medical office space under renovation
- New 5‑year lease with full lease payments beginning September 1, 2026
- 8% cap rate stated in the listing
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
$27,256
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
4.58%
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%
$545,120
$545.1K
Cap Rate 7%
$389,371
$389.4K
Cap Rate 9%
$302,844
$302.8K
Market Conditions
NOI Build-Up for 2,642 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
$39.6K $15.00/SF
− Vacancy
−$3.3K −$1.25/SF
EGI
$36.3K $13.76/SF
− OpEx
−$9.1K −$3.44/SF
NOI
$27.3K $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%
$545,120
Cap Rate 7%
$389,371
Cap Rate 9%
$302,844
Alternative Uses
Best Use
Office B
$389.4K
$340.7K – $454.3K
NOI $27,256 @ 7.0% cap · market cap 4.58%
Second Best
Healthcare Medical
$87.4K
$76.5K – $101.9K
NOI $6,116 @ 7.0% cap · market cap 1.03%
Theoretical Best
Office A
$509.3K
$445.6K – $594.1K
NOI $35,648 @ 7.0% cap · market cap 5.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
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 - Accessible professional-use property with elevator service and a planned medical education tenancy.
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 $595,000.
What are key features of this property?
This property features: 2,642 square feet of medical office space under renovation; New 5‑year lease with full lease payments beginning September 1, 2026; 8% cap rate stated in the listing
