Medical Office Space Under
New
For Sale
$595,000
410 University Parkway, Aiken, SC 29801
SINGLE_FAMILY - Aiken, SC
Property Size2,642 SF
Lot Size0.06 Acres
Price / SF$225.21
Days on Market2
Property Features for 410 University Parkway
General Information
Property type
Residential
Property subtype
Office
Zoning
Office
Parking
300
Subdivision
Not In Subdivision
Directions
From downtown Aiken take Richland Ave W to University Parkway. University Parkway to Aiken Medical Building on the Right. Suite is located on the lower level of the building.
Standard status
Active
APN
0871502030
Size
2,642 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
APT PARCEL 1200 AIKEN MED CENTERAMCA SUITE 1200
Tax Annual Amount
6287
HOA Fee
$17,516 Annually
Legal Description
APT PARCEL 1200 AIKEN MED CENTERAMCA SUITE 1200
Utilities
Utilities
Electricity Available
Sewer type
Public Sewer
Heating system
Forced Air, Zoned, Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1985
Flooring type
Vinyl, Concrete
Building materials
Block, Brick Veneer, Steel Frame
Roof type
Membrane, Flat
Listing Agency:
Re/max Tattersall Group
(803) 226-0036
Listed By:
Tad Barber · License #2264
(803) 439-6559
Added: Aug 14
Last Checked: Aug 15 at 6:06AM
MLS# 100596317
Copyright © 2026 Hive MLS. 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 condominium was built in 1985 and is undergoing renovation. The property features block, brick veneer, and steel frame construction, with vinyl and concrete flooring, central air, zoned forced-air electric heating, and a flat membrane roof. Public water and public sewer serve the building, and electricity is available.
The property is located at 410 University Parkway in Aiken, South Carolina. A new five-year lease is planned, with full lease payments beginning September 1, 2026. The tenant is expected to use the space for medical education, while the adjacent Suite 1300 is leased to the same tenant under matching terms. The building association covers most operating costs through its regime structure; condo insurance and interior janitorial service are excluded. Permitted professional uses and select retail uses, including food service, pharmacy, and eyewear, are also supported by the association’s modified use provisions.
The property is located at 410 University Parkway in Aiken, South Carolina. A new five-year lease is planned, with full lease payments beginning September 1, 2026. The tenant is expected to use the space for medical education, while the adjacent Suite 1300 is leased to the same tenant under matching terms. The building association covers most operating costs through its regime structure; condo insurance and interior janitorial service are excluded. Permitted professional uses and select retail uses, including food service, pharmacy, and eyewear, are also supported by the association’s modified use provisions.
Key Highlights
- 2,642‑square‑foot medical office condominium on 0.06 acres
- Renovation underway in a 1985‑built property
- New 5‑year lease with full lease payments beginning September 1, 2026
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 - Condominium medical office with public utilities and a planned five-year lease for medical education use.
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 condominium on 0.06 acres; Renovation underway in a 1985‑built property; New 5‑year lease with full lease payments beginning September 1, 2026
