Renovating Medical Office
New
For Sale
$247,500
410 University Parkway Ste 1300, Aiken, SC 29801
Scheduled five-year lease supports continued medical education use within a renovated commercial suite.
Property Size1,120 SF
Price / SF$220.98
Days on Market2
Property Features for 410 University Parkway Ste 1300
General Information
Standard status
Active
Size
1,120 SF
Building Details
Year Built
1985
Tenancy
Single
Listing Agency:
RE/MAX Tattersall Group
(803) 439-6559
Listed By:
Tad D Barber · License #2264
Source:
Vandermorganrealty
Added: Aug 12
Changed: Aug 13
Last Checked: Aug 13 at 6:51AM
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 RE/MAX Tattersall Group
Investment Insights
Based on property information with market context.
This 1,120-square-foot medical office suite was originally built in 1985 and is undergoing renovation by a new tenant. The planned configuration will support medical education activities, with Suite 1200 also being renovated for related use and offered separately for sale.
A five-year lease is scheduled to begin September 1 and includes renewal options and rent increases at renewal. The tenant is responsible for taxes and insurance, while operating costs are based on actual expenses and adjusted annually. The property is located at 410 University Parkway, Suite 1300, in Aiken, South Carolina.
A five-year lease is scheduled to begin September 1 and includes renewal options and rent increases at renewal. The tenant is responsible for taxes and insurance, while operating costs are based on actual expenses and adjusted annually. The property is located at 410 University Parkway, Suite 1300, in Aiken, South Carolina.
Key Highlights
- 1,120‑square‑foot medical office suite
- Renovation underway by a new tenant
- Five‑year lease begins September 1
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
$11,554
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
4.67%
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%
$231,080
$231.1K
Cap Rate 7%
$165,057
$165.1K
Cap Rate 9%
$128,378
$128.4K
Market Conditions
NOI Build-Up for 1,120 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
$16.8K $15.00/SF
− Vacancy
−$1.4K −$1.25/SF
EGI
$15.4K $13.76/SF
− OpEx
−$3.9K −$3.44/SF
NOI
$11.6K $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%
$231,080
Cap Rate 7%
$165,057
Cap Rate 9%
$128,378
Alternative Uses
Best Use
Office B
$165.1K
$144.4K – $192.6K
NOI $11,554 @ 7.0% cap · market cap 4.67%
Second Best
Healthcare Medical
$37.0K
$32.4K – $43.2K
NOI $2,593 @ 7.0% cap · market cap 1.05%
Theoretical Best
Office A
$215.9K
$188.9K – $251.9K
NOI $15,112 @ 7.0% cap · market cap 6.11%
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
70
Businesses Nearby
Balanced
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Medical Office Space - Scheduled five-year lease supports continued medical education use within a renovated commercial suite.
Where is this medical office space located?
The property is located at 410 University Parkway Ste 1300 Aiken, SC.
What is the asking price?
The asking price for this property is $247,500.
What are key features of this property?
This property features: 1,120‑square‑foot medical office suite; Renovation underway by a new tenant; Five‑year lease begins September 1
