Two-Story Mixed-Use
For Sale
Contact for pricing
344 & 352 Park Avenue SE, Aiken, SC 29801
Vacant downtown property with commercial space and a second level formerly used as an apartment.
Property Size3,049 SF
Price / SF$278.78
Days on Market238
Property Features for 344 & 352 Park Avenue SE
General Information
Standard status
Active
Size
3,049 SF
Property subtype
Mixed Use, Hospitality, Office, Land, Retail, Industrial
Property Condition
Severity
Repairs Needed
Evidence
fixer-upper
Building Details
Year Built
1800
Buildings
1
Stories
2
Listing Agency:
Haven Real Estate
(727) 218-0760
Listed By:
Nina Meunier · License #143822
Source:
Crexi
Added: Jan 6
Changed: Aug 30
Last Checked: Aug 30 at 5:59PM
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 Haven Real Estate
Investment Insights
Based on property information with market context.
This two-story mixed-use property contains 3,049 square feet and is currently vacant. Constructed in 1800, the building was formerly associated with the Aiken New Yorker and is being offered in as-is condition. The upper level previously served as an apartment, while the property’s commercial configuration supports consideration of office, retail, or combined commercial and residential use.
Located at 344 & 352 Park Avenue SE in downtown Aiken, the property places a historic building within the city’s central business setting. Its existing two-level layout provides a distinct starting point for restoration, reconfiguration, or a mixed-use redevelopment plan. Showings require a lender pre-approval letter or proof of funds from a financial institution.
Located at 344 & 352 Park Avenue SE in downtown Aiken, the property places a historic building within the city’s central business setting. Its existing two-level layout provides a distinct starting point for restoration, reconfiguration, or a mixed-use redevelopment plan. Showings require a lender pre-approval letter or proof of funds from a financial institution.
Key Highlights
- 3,049‑square‑foot two‑story mixed‑use building
- Built in 1800
- Vacant property offered in as‑is condition
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
$31,454
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
3.70%
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%
$629,080
$629.1K
Cap Rate 7%
$449,343
$449.3K
Cap Rate 9%
$349,489
$349.5K
Market Conditions
NOI Build-Up for 3,049 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
$45.7K $15.00/SF
− Vacancy
−$3.8K −$1.25/SF
EGI
$41.9K $13.76/SF
− OpEx
−$10.5K −$3.44/SF
NOI
$31.5K $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%
$629,080
Cap Rate 7%
$449,343
Cap Rate 9%
$349,489
Alternative Uses
Best Use
Office B
$449.3K
$393.2K – $524.2K
NOI $31,454 @ 7.0% cap · market cap 3.70%
Second Best
Retail
$420.6K
$368.0K – $490.7K
NOI $29,443 @ 7.0% cap · market cap 3.46%
Theoretical Best
Office A
$587.7K
$514.3K – $685.7K
NOI $41,140 @ 7.0% cap · market cap 4.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,187
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?
Mixed-use property - Vacant downtown property with commercial space and a second level formerly used as an apartment.
Where is this mixed-use property located?
The property is located at 344 & 352 Park Avenue SE Aiken, SC.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 3,049‑square‑foot two‑story mixed‑use building; Built in 1800; Vacant property offered in as‑is condition
