Building Details

Year Built 1800

Buildings 1

Stories 2

Listing Agency: Haven Real Estate

Listed By: Nina Meunier · License #143822 Show Phone

Source: Crexi

Added: Jan 6 Changed: Oct 7 Last Checked: Oct 16 at 7:39AM

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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.

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 / Yr

$31,454

Cap Rate

4.19%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$629,080 $629.1K

Cap Rate 7%

$449,343 $449.3K

Cap Rate 9%

$349,489 $349.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,049 SF

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 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 (±1% cap)

NOI $31,454 @ 7.0% cap · market cap 4.19%

Second Best

Retail

$420.6K

$368.0K – $490.7K (±1% cap)

NOI $29,443 @ 7.0% cap · market cap 3.93%

Theoretical Best

Office A

$587.7K

$514.3K – $685.7K (±1% cap)

NOI $41,140 @ 7.0% cap · market cap 5.49%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Office buildings

Suggested Use

Top Pick Parking Lot & Garage Big Box & Wholesale Store Building Supply Locksmith (Bike/Boat/Book/etc) Store Home Appliance Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

14.4% 2019

16.4% 2020

17.3% 2021

18% 2022

18.6% 2023

20.3% 2024

20.2% 2025

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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 $750,000.

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