Corner-Lot Office
For Sale
$480,000
921 Georgia Avenue, North Augusta, SC 29841
Includes a rear one-bedroom apartment, break room, and extensive storage capacity.
Property Size2,480 SF
Price / SF$193.55
Days on Market682
Property Features for 921 Georgia Avenue
General Information
Standard status
Active
Size
2,480 SF
Property subtype
Office
Additional Details
Road Access
Yes
Amenities
3
Building Details
Year Built
1941
Listing Agency:
Blanchard & Calhoun
(706) 833-4014
Listed By:
Kevin Gillian · License #SC62915
(706) 833-4014
Source:
Xome
Added: Oct 18, 2024
Changed: Aug 29
Last Checked: Aug 29 at 6:46PM
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 Blanchard & Calhoun
Investment Insights
Based on property information with market context.
Built in 1941, this 2,480-square-foot office building includes multiple office areas, a large break room, and substantial storage. A one-bedroom apartment occupies the rear of the property, adding a separate residential component to the improvements.
The property occupies a corner lot on Georgia Avenue at 921 Georgia Avenue in North Augusta, South Carolina. Its combination of office space, support areas, and the rear apartment creates a varied existing layout within a single commercial property.
The property occupies a corner lot on Georgia Avenue at 921 Georgia Avenue in North Augusta, South Carolina. Its combination of office space, support areas, and the rear apartment creates a varied existing layout within a single commercial property.
Key Highlights
- 2,480‑square‑foot office building constructed in 1941
- Corner‑lot position on Georgia Avenue
- Multiple office areas with a large break room
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
$25,584
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
5.33%
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%
$511,680
$511.7K
Cap Rate 7%
$365,486
$365.5K
Cap Rate 9%
$284,267
$284.3K
Market Conditions
NOI Build-Up for 2,480 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
$37.2K $15.00/SF
− Vacancy
−$3.1K −$1.25/SF
EGI
$34.1K $13.76/SF
− OpEx
−$8.5K −$3.44/SF
NOI
$25.6K $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%
$511,680
Cap Rate 7%
$365,486
Cap Rate 9%
$284,267
Alternative Uses
Best Use
Office B
$365.5K
$319.8K – $426.4K
NOI $25,584 @ 7.0% cap · market cap 5.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$478.0K
$418.3K – $557.7K
NOI $33,462 @ 7.0% cap · market cap 6.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
711
Businesses Nearby
Explore this area
Business Placement
Demographics for 29841, SC
32,919
Population
16,474
Households
2
Avg Household Size
40
Median Age
32%
College-Educated
93%
High-School Grad
31.9 sq mi
ZIP Area
1,032
Density / Sq Mi
$72,811
Median Household Income
$46,447
Median Earnings
$1,050
Median Rent
$186,000
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?
Office building - Includes a rear one-bedroom apartment, break room, and extensive storage capacity.
Where is this office building located?
The property is located at 921 Georgia Avenue North Augusta, SC.
What is the asking price?
The asking price for this property is $480,000.
What are key features of this property?
This property features: 2,480‑square‑foot office building constructed in 1941; Corner‑lot position on Georgia Avenue; Multiple office areas with a large break room
