Live-Work Property with Garden
For Sale
$2,500,000
302 Park Avenue SE, Aiken, SC 29801
Commercial Sale, Aiken, SC
Property Size8,070 SF
Lot Size0.14 Acres
Price / SF$309.79
Days on Market105
Property Features for 302 Park Avenue SE
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
DB
Interior features
Solid Surface Counters, Entrance Foyer, Built-in Features, Bookcases, Cable Available, Ceiling Fan(s), Cable Internet
Exterior features
Garden
Fencing
Fenced, Privacy
Directions
From downtown Aiken, starting from Laurens St & Park Ave, head east on Park Ave for approx. 1 miles. The property will be on your left.
Subdivision
NE
Standard status
Active
APN
1213014001
Size
8,070 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Description
Blk 92 Crnr Of Park & Fairfield
Legal Description
Blk 92 Crnr Of Park & Fairfield
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Electric
Water source
Public
Building Details
Year built
1890
Floors in Building
2
Flooring type
Concrete, Hardwood, Wood, Tile, Carpet, Tile - Ceramic
Building materials
Block, Brick, Brick Veneer, Drywall, Frame
Listing Agency:
Meybohm Commercial Properties
(803) 649-8103
Listed By:
Karen A Daly · License #SC97250
(803) 215-1082
Added: May 12
Changed: Aug 19
Last Checked: Aug 24 at 5:06AM
MLS# 223391
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.
Originally constructed in the late 1800s and reimagined in 2017, this downtown live-work property is a mixed-use building designed with multiple flexible spaces in mind. The main two-story law office includes a first-floor reception area, conference room or executive office, half bath, coffee bar, and dedicated storage/IT room, with upstairs featuring executive offices, a library/office, collaborative gathering area, full bath, workroom, glass-enclosed conference room, additional offices, and a spacious work area with a kitchen, half bath, and multiple workstations. Interior appointments include exposed brick, hardwood and tile flooring, and oversized windows that bring in natural light.
An attached salon suite is currently operating as a hair salon and was renovated in 2022, featuring exposed brick, painted concrete floors, abundant natural light, and a half bath. Adjacent on the lower level is a storefront currently operating as a clothing and dry goods boutique, renovated in 2023 with tile flooring, exposed brick, bright interiors, a dressing room, office space, and a half bath.
The property also includes a detached annex building serving as office space for a local real estate firm and formerly used as an artist’s studio. It features exposed brick, painted concrete floors, a metal roof, a half bath, storage, and an open-concept layout overlooking the garden courtyard behind the main building. Built in 1890 with public water and public sewer, the site includes a garden and fenced features.
An attached salon suite is currently operating as a hair salon and was renovated in 2022, featuring exposed brick, painted concrete floors, abundant natural light, and a half bath. Adjacent on the lower level is a storefront currently operating as a clothing and dry goods boutique, renovated in 2023 with tile flooring, exposed brick, bright interiors, a dressing room, office space, and a half bath.
The property also includes a detached annex building serving as office space for a local real estate firm and formerly used as an artist’s studio. It features exposed brick, painted concrete floors, a metal roof, a half bath, storage, and an open-concept layout overlooking the garden courtyard behind the main building. Built in 1890 with public water and public sewer, the site includes a garden and fenced features.
Key Highlights
- Lot size: 0.14 acres
- Building size: 8,070 SF
- Originally built in 1890; reimagined in 2017
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
$83,252
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
3.33%
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%
$1,665,040
$1.7M
Cap Rate 7%
$1,189,314
$1.2M
Cap Rate 9%
$925,022
$925.0K
Market Conditions
NOI Build-Up for 8,070 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
$121.1K $15.00/SF
− Vacancy
−$10.0K −$1.25/SF
EGI
$111.0K $13.76/SF
− OpEx
−$27.8K −$3.44/SF
NOI
$83.3K $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%
$1,665,040
Cap Rate 7%
$1,189,314
Cap Rate 9%
$925,022
Alternative Uses
Best Use
Office B
$1.19M
$1.04M – $1.39M
NOI $83,252 @ 7.0% cap · market cap 3.33%
Second Best
Retail
$1.11M
$974.1K – $1.30M
NOI $77,929 @ 7.0% cap · market cap 3.12%
Theoretical Best
Office A
$1.56M
$1.36M – $1.81M
NOI $108,887 @ 7.0% cap · market cap 4.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,066
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
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Frequently Asked Questions
What type of property is this?
Live-work space - Historic live-work property reimagined in 2017 with multiple revenue spaces, including a two-story law office and renovated suites.
Where is this live-work space located?
The property is located at 302 Park Avenue SE Aiken, SC.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Lot size: 0.14 acres; Building size: 8,070 SF; Originally built in 1890; reimagined in 2017
