Downtown Aiken Commercial
For Sale
Contact for pricing
120 Chesterfield Street, Aiken, SC 29801
Historic property in Aiken's Central Business District with potential uses.
Property Size4,472 SF
Price / SF$167.71
Days on Market742
Property Features for 120 Chesterfield Street
General Information
Standard status
Active
Size
4,472 SF
Property subtype
Business for Sale, Retail
Zoning
CBD
Building Details
Year Built
1890
Buildings
1
Stories
2
Listing Agency:
Carolina Real Estate Company
Listed By:
Mike Hosang · License #14354
(803) 648-8660
Source:
Crexi
Added: Aug 28, 2024
Changed: Aug 14
Last Checked: Sep 7 at 9:19AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Carolina Real Estate Company
Investment Insights
Based on property information with market context.
Located in downtown Aiken, this property, with a total of 4,472 square feet, has been the site of a successful family business for almost two decades. Constructed circa 1890, the property is situated within Aiken's Central Business District, offering potential for a variety of uses. The property includes covered porches totaling 730 square feet.
Key Highlights
- Prime downtown Aiken location within the Central Business District.
- Significant potential for a variety of uses.
- Historic property with privacy and charm.
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
$43,184
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
5.76%
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%
$863,680
$863.7K
Cap Rate 7%
$616,914
$616.9K
Cap Rate 9%
$479,822
$479.8K
Market Conditions
NOI Build-Up for 4,472 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
$64.4K $14.40/SF
− Vacancy
−$2.7K −$0.60/SF
EGI
$61.7K $13.80/SF
− OpEx
−$18.5K −$4.14/SF
NOI
$43.2K $9.66/SF
Area
Aiken County, SC
Vacancy
4.20%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
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%
$863,680
Cap Rate 7%
$616,914
Cap Rate 9%
$479,822
Alternative Uses
Best Use
Retail
$616.9K
$539.8K – $719.7K
NOI $43,184 @ 7.0% cap · market cap 5.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$862.0K
$754.3K – $1.01M
NOI $60,340 @ 7.0% cap · market cap 8.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,151
Businesses Nearby
23k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 53%
Shops & Services 47%
Mellow Mushroom
Dining
12,357 visits/mo
0.2 miles
Bank of America
Shops & Services
4,808 visits/mo
0.3 miles
AutoZone
Shops & Services
3,320 visits/mo
0.4 miles
TD Bank
Shops & Services
2,933 visits/mo
0.1 miles
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
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- The Ivy Cottage Inc. — 206 Park Ave SE, Aiken, SC 29801
- Cote Designs Floral and Events — 128 Laurens St SW, Aiken, SC 29801
Frequently Asked Questions
What type of property is this?
Storefront property - Historic property in Aiken's Central Business District with potential uses.
Where is this storefront property located?
The property is located at 120 Chesterfield Street Aiken, SC.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Prime downtown Aiken location within the Central Business District.; Significant potential for a variety of uses.; Historic property with privacy and charm.
