Downtown Office
For Sale
Contact for pricing
105 Lancaster St SW, Aiken, SC 29801
Office building in downtown Aiken with recent exterior paint and trim work.
Property Size4,961 SF
Price / SF$141.10
Days on Market441
Property Features for 105 Lancaster St SW
General Information
Standard status
Active
Size
4,961 SF
Property subtype
OFFICE
Listing Agency:
Meybohm Commercial Properties, LLC
(706) 736-0700
Listed By:
Curt Hanna
(864) 993-2501
Source:
Moodyscre
Added: Jun 23, 2025
Changed: Jul 22
Last Checked: Jul 22 at 7:47AM
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 Meybohm Commercial Properties, LLC
Investment Insights
Based on property information with market context.
This downtown office building is positioned for office use and has had recent exterior paint and trim work completed. The property is identified as suitable for office space, and it is also described as convertible to hospitality or residential space with proper rezoning.
The offering is for sale and located at 105 Lancaster St SW in Aiken, South Carolina.
For tenants, buyers, and brokers considering repositioning, the building’s current use is supported as office space, with rezoning noted as the requirement for hospitality or residential conversion.
The offering is for sale and located at 105 Lancaster St SW in Aiken, South Carolina.
For tenants, buyers, and brokers considering repositioning, the building’s current use is supported as office space, with rezoning noted as the requirement for hospitality or residential conversion.
Key Highlights
- Office building in downtown Aiken
- Recent exterior paint and trim work
- Designed for office use
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
$51,179
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
7.31%
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%
$1,023,580
$1.0M
Cap Rate 7%
$731,129
$731.1K
Cap Rate 9%
$568,656
$568.7K
Market Conditions
NOI Build-Up for 4,961 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
$74.4K $15.00/SF
− Vacancy
−$6.2K −$1.25/SF
EGI
$68.2K $13.76/SF
− OpEx
−$17.1K −$3.44/SF
NOI
$51.2K $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%
$1,023,580
Cap Rate 7%
$731,129
Cap Rate 9%
$568,656
Alternative Uses
Best Use
Office B
$731.1K
$639.7K – $853.0K
NOI $51,179 @ 7.0% cap · market cap 7.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$956.3K
$836.7K – $1.12M
NOI $66,938 @ 7.0% cap · market cap 9.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Office building in downtown Aiken with recent exterior paint and trim work.
Where is this office building located?
The property is located at 105 Lancaster St SW Aiken, SC.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Office building in downtown Aiken; Recent exterior paint and trim work; Designed for office use
