Medical Office Suite Under
New
For Sale
$595,000
410 University Parkway, Aiken, SC 29801
COMMERCIAL - Aiken, SC
Property Size2,642 SF
Lot Size0.06 Acres
Price / SF$225.21
Days on Market1
Property Features for 410 University Parkway
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning description
O
Parking
300
Window features
Insulated Windows
Interior features
Elevator
Accessibility
Accessible Approach with Ramp, Accessible Elevator Installed
Lot features
Landscaped, Landscaped
Directions
From downtown Aiken take Richland Av W towards Augusta (westerly direction) to University Parkway. Right onto University Pkwy to property on right just past Aiken Regional Hospital. Building is called Aiken Medical Center building.
Subdivision
NW
Standard status
Active
APN
0871502030
Size
2,642 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Description
Apt Parcel 1200 Aiken Med Centeramca Suite 1200
Legal Description
Apt Parcel 1200 Aiken Med Centeramca Suite 1200
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
1985
Floors in Building
1
Flooring type
Concrete, Carpet
Building materials
Brick Veneer
Roof type
Built-Up
Listing Agency:
RE/MAX Tattersall Group · RE/MAX International
(803) 226-0036
Listed By:
Tad D Barber · License #2264
(803) 439-6559
Added: Aug 10
Last Checked: Aug 10 at 4:06PM
MLS# 224909
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.
This 2,642-square-foot medical office suite is being renovated within a brick-veneer building constructed in 1985. Interior features include an elevator, accessible ramp approach, accessible elevator service, concrete and carpet flooring, electric heating, and central air conditioning. The property is served by public water and public sewer, with a built-up roof and cable availability.
The suite is subject to a new 5-year lease for medical education use, with full lease payments beginning September 1, 2026. The tenant is responsible for property taxes, regime charges, and insurance costs. An adjacent 1,300 suite is leased to the same tenant under matching terms. Building association fees cover most operating expenses, while condo insurance and interior janitorial service remain outside that coverage. Permitted building uses have been expanded to include professional services and select retail, including food service, pharmacy, and eyewear-related uses.
The suite is subject to a new 5-year lease for medical education use, with full lease payments beginning September 1, 2026. The tenant is responsible for property taxes, regime charges, and insurance costs. An adjacent 1,300 suite is leased to the same tenant under matching terms. Building association fees cover most operating expenses, while condo insurance and interior janitorial service remain outside that coverage. Permitted building uses have been expanded to include professional services and select retail, including food service, pharmacy, and eyewear-related uses.
Key Highlights
- 2,642‑square‑foot medical office suite under renovation
- New 5‑year lease for medical education use
- 8% CAP rate stated in the listing
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
$27,256
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
4.58%
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%
$545,120
$545.1K
Cap Rate 7%
$389,371
$389.4K
Cap Rate 9%
$302,844
$302.8K
Market Conditions
NOI Build-Up for 2,642 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
$39.6K $15.00/SF
− Vacancy
−$3.3K −$1.25/SF
EGI
$36.3K $13.76/SF
− OpEx
−$9.1K −$3.44/SF
NOI
$27.3K $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%
$545,120
Cap Rate 7%
$389,371
Cap Rate 9%
$302,844
Alternative Uses
Best Use
Office B
$389.4K
$340.7K – $454.3K
NOI $27,256 @ 7.0% cap · market cap 4.58%
Second Best
Healthcare Medical
$87.4K
$76.5K – $101.9K
NOI $6,116 @ 7.0% cap · market cap 1.03%
Theoretical Best
Office A
$509.3K
$445.6K – $594.1K
NOI $35,648 @ 7.0% cap · market cap 5.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
451
Businesses Nearby
Under-served
Demand for This Use
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?
Medical Office Space - Renovated medical office space with elevator access and a new five-year lease structure.
Where is this medical office space located?
The property is located at 410 University Parkway Aiken, SC.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: 2,642‑square‑foot medical office suite under renovation; New 5‑year lease for medical education use; 8% CAP rate stated in the listing
