Historic Two-Story Mixed-Use
For Sale
$750,000
344 & 352 Park Avenue SE, Aiken, SC 29801
Commercial Sale, Aiken, SC
Property Size3,049 SF
Lot Size0.14 Acres
Price / SF$245.98
Days on Market235
Property Features for 344 & 352 Park Avenue SE
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Downtown Business
Directions
Head east on E Park Ave toward Laurens St SE. Continue straight on Park Ave SE for about 1 mile. You'll reach 344 Park Ave SE on your right
Subdivision
SE
Standard status
Active
APN
121-30-14-003 & 121-30-14-004
Size
3,049 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Description
Blk 92 North Side Of Park Ave
Legal Description
Blk 92 North Side Of Park Ave
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1800
Floors in Building
2
Building materials
Steel Beam, Brick
Listing Agency:
Haven Real Estate
(843) 901-8434
Listed By:
Nina Meunier · License #143822
(727) 218-0760
Added: Jan 6
Changed: Aug 24
Last Checked: Aug 29 at 6:06PM
MLS# 221153
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.
Built in 1800, this vacant two-story mixed-use property contains 3,049 square feet on a 0.14-acre parcel. The building features steel beam and brick construction, with a second floor that previously served as an apartment. Its layout supports consideration of office, retail, or combined commercial and residential use, subject to applicable approvals and improvements.
The property is located at 344 & 352 Park Avenue SE in downtown Aiken. Public water and public sewer are available. The building is offered as-is and requires improvements, providing a basis for a buyer to evaluate restoration and reconfiguration plans.
The property is located at 344 & 352 Park Avenue SE in downtown Aiken. Public water and public sewer are available. The building is offered as-is and requires improvements, providing a basis for a buyer to evaluate restoration and reconfiguration plans.
Key Highlights
- 3,049‑square‑foot vacant two‑story commercial building
- 0.14‑acre parcel at 344 & 352 Park Avenue SE
- Second story previously functioned as an apartment
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
$29,443
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
3.93%
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%
$588,860
$588.9K
Cap Rate 7%
$420,614
$420.6K
Cap Rate 9%
$327,144
$327.1K
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
$43.9K $14.40/SF
− Vacancy
−$1.8K −$0.60/SF
EGI
$42.1K $13.80/SF
− OpEx
−$12.6K −$4.14/SF
NOI
$29.4K $9.66/SF
Area
Aiken County, SC
Vacancy
4.20%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
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%
$588,860
Cap Rate 7%
$420,614
Cap Rate 9%
$327,144
Alternative Uses
Best Use
Retail
$420.6K
$368.0K – $490.7K
NOI $29,443 @ 7.0% cap · market cap 3.93%
Second Best
Mixed Use
$344.0K
$301.0K – $401.3K
NOI $24,079 @ 7.0% cap · market cap 3.21%
Theoretical Best
Office A
$587.7K
$514.3K – $685.7K
NOI $41,140 @ 7.0% cap · market cap 5.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,056
Businesses Nearby
15k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 81%
Shops & Services 19%
Mellow Mushroom
Dining
12,357 visits/mo
0.5 miles
TD Bank
Shops & Services
2,933 visits/mo
0.3 miles
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 Retail 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 includes a former apartment level and public water and sewer service.
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 $750,000.
What are key features of this property?
This property features: 3,049‑square‑foot vacant two‑story commercial building; 0.14‑acre parcel at 344 & 352 Park Avenue SE; Second story previously functioned as an apartment
