One-Story Office
For Sale
$750,000
Pending
120 Morgan Street NW, Aiken, SC 29801
Commercial Sale, Aiken, SC
Property Size6,464 SF
Lot Size1.71 Acres
Days on Market354
Property Features for 120 Morgan Street NW
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Office, Historic Overlay
Directions
From downtown, south on Laurens Street, West on Richland Ave, property on right.
Subdivision
NW
Standard status
Pending
APN
104-20-22-002
Size
6,464 SF
Lot size
1.71 Acres
Taxes and HOA fees
Tax Description
Pursuant to the legal instrument, the deed.
Legal Description
Pursuant to the legal instrument, the deed.
Building Details
Floors in Building
1
Listing Agency:
Coward & McNeill Real Estate, LLC
(803) 648-8298
Listed By:
Michael S. McNeill · License #95939
(803) 645-1480
Added: Oct 22, 2025
Changed: Aug 19
Last Checked: Oct 10 at 12:06AM
MLS# 220115
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 one-story office building contains approximately 6,464 GLSF on a 1.71-acre site. The interior includes an auditorium, conference room, executive office with private restroom, seven support offices, five additional restrooms, storage areas, and mechanical rooms. The property previously served as the Aiken County Council chambers and also includes a standing morgue building on the site.
Access and visibility are provided from Richland Avenue and Morgan Street, with an extensive asphalt-paved parking lot serving the improvements. The property is zoned “O” – Office and is located within the Historic Overlay. Its address is 120 Morgan Street NW, Aiken, SC 29801.
Access and visibility are provided from Richland Avenue and Morgan Street, with an extensive asphalt-paved parking lot serving the improvements. The property is zoned “O” – Office and is located within the Historic Overlay. Its address is 120 Morgan Street NW, Aiken, SC 29801.
Key Highlights
- Approximately 6,464 GLSF one‑story office building on 1.71 acres
- Auditorium, conference room, executive office, seven support offices, and five additional restrooms
- Extensive asphalt‑paved parking lot on the site
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$66,684
Cap Rate
8.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,333,680
$1.3M
Cap Rate 7%
$952,629
$952.6K
Cap Rate 9%
$740,933
$740.9K
Market Conditions
NOI Build-Up for 6,464 SF
Gross rent
$97.0K $15.00/SF
− Vacancy
−$8.0K −$1.25/SF
EGI
$88.9K $13.76/SF
− OpEx
−$22.2K −$3.44/SF
NOI
$66.7K $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 Rate 5%
$1,333,680
Cap Rate 7%
$952,629
Cap Rate 9%
$740,933
Alternative Uses
Best Use
Office B
$952.6K
$833.6K – $1.11M
NOI $66,684 @ 7.0% cap · market cap 8.89%
Second Best
Healthcare Medical
$213.8K
$187.1K – $249.4K
NOI $14,965 @ 7.0% cap · market cap 2.00%
Theoretical Best
Office A
$1.25M
$1.09M – $1.45M
NOI $87,217 @ 7.0% cap · market cap 11.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,193
Businesses Nearby
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
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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?
Office building - Office property with an auditorium, conference facilities, support offices, and extensive paved parking.
Where is this office building located?
The property is located at 120 Morgan Street NW 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: Approximately 6,464 GLSF one‑story office building on 1.71 acres; Auditorium, conference room, executive office, seven support offices, and five additional restrooms; Extensive asphalt‑paved parking lot on the site
