Medical Office Building with
For Sale
Under Contract
$1,750,000
191 Centre S Boulevard, Aiken, SC 29803
Commercial Sale, Aiken, SC
Property Size9,000 SF
Lot Size1.76 Acres
Price / SF$192.43
Days on Market156
Property Features for 191 Centre S Boulevard
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
O
Parking
45
Parking features
Parking Lot
Subdivision
Not In Subdivision
Lot features
Level, Landscaped
Directions
From downtown Aiken, take Whiskey Road south for approx. 2 miles. Bear right onto Silver Bluff Road for approx. 1.5 miles. Turn right onto Centre South Blvd and the property is the 3rd driveway on the right.
Standard status
Active Under Contract
APN
1061922007
Size
9,094 SF
Lot size
1.76 Acres
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Water source
Public
Amenities
professional portico entrance
security system
monument sign
Building Details
Year built
2000
Roof type
Metal
Listing Agency:
Meybohm Commercial Properties
(706) 736-0700
Listed By:
Karen A Daly · License #SC97250
(803) 215-1082
Added: Mar 23
Changed: Aug 19
Last Checked: Aug 25 at 9:06AM
MLS# 98254909
Copyright © 2026 Hive MLS. 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.
Built in 2000, this 9,094-square-foot medical office facility occupies 1.76 acres and is configured for professional healthcare use. The brick building includes a portico entry, tile flooring, security system, fire sprinklers, gutters, and a concealed-fastener standing-seam metal roof. O zoning is reported for the property.
The building is currently occupied by two orthopedic practices, with renewal options offered but not finalized. Positioned near Silver Bluff Road, the property benefits from access to a corridor reported at approximately 16,800 VPD. The site includes public water, public sewer, and a landscaped, lighted parking lot with 45 spaces, including 4 ADA-compliant spaces. A monument sign is also present.
The building is currently occupied by two orthopedic practices, with renewal options offered but not finalized. Positioned near Silver Bluff Road, the property benefits from access to a corridor reported at approximately 16,800 VPD. The site includes public water, public sewer, and a landscaped, lighted parking lot with 45 spaces, including 4 ADA-compliant spaces. A monument sign is also present.
Key Highlights
- 9,094 SF medical office building on 1.76 acres
- Constructed in 2000 with brick construction and a concealed‑fastener standing‑seam metal roof
- 45‑space landscaped and lighted parking lot, including 4 ADA‑compliant spaces
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
$93,816
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
5.36%
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%
$1,876,320
$1.9M
Cap Rate 7%
$1,340,229
$1.3M
Cap Rate 9%
$1,042,400
$1.0M
Market Conditions
NOI Build-Up for 9,094 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
$136.4K $15.00/SF
− Vacancy
−$11.3K −$1.25/SF
EGI
$125.1K $13.76/SF
− OpEx
−$31.3K −$3.44/SF
NOI
$93.8K $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%
$1,876,320
Cap Rate 7%
$1,340,229
Cap Rate 9%
$1,042,400
Alternative Uses
Best Use
Office B
$1.34M
$1.17M – $1.56M
NOI $93,816 @ 7.0% cap · market cap 5.36%
Second Best
Healthcare Medical
$300.8K
$263.2K – $350.9K
NOI $21,053 @ 7.0% cap · market cap 1.20%
Theoretical Best
Office A
$1.75M
$1.53M – $2.05M
NOI $122,704 @ 7.0% cap · market cap 7.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16,800 VPD
Traffic count
Multi-tenant
Tenancy
Yes
Sprinkler system
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
508
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 29803, SC
40,056
Population
17,920
Households
2.2
Avg Household Size
49
Median Age
45%
College-Educated
96%
High-School Grad
127.5 sq mi
ZIP Area
314
Density / Sq Mi
$82,933
Median Household Income
$42,961
Median Earnings
$1,146
Median Rent
$271,000
Median Home Value
Market
Vacancy Rate% for Office in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Brick medical facility in an established office park with public water, public sewer, and a landscaped parking area.
Where is this medical office space located?
The property is located at 191 Centre S Boulevard Aiken, SC.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: 9,094 SF medical office building on 1.76 acres; Constructed in 2000 with brick construction and a concealed‑fastener standing‑seam metal roof; 45‑space landscaped and lighted parking lot, including 4 ADA‑compliant spaces
