Building Details

Year Built 1890

Buildings 1

Stories 2

Listing Agency: Carolina Real Estate Company

Listed By: Mike Hosang · License #14354 Show Phone

Source: Crexi

Added: Aug 28, 2024 Changed: Oct 1 Last Checked: Oct 23 at 7:00AM

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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 Carolina Real Estate Company

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Investment Insights

Based on property information with market context.

Located in downtown Aiken, this property, with a total of 4,472 square feet, has been the site of a successful family business for almost two decades. Constructed circa 1890, the property is situated within Aiken's Central Business District, offering potential for a variety of uses. The property includes covered porches totaling 730 square feet.

Key Highlights

• Prime downtown Aiken location within the Central Business District.
• Significant potential for a variety of uses.
• Historic property with privacy and charm.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$43,184

Cap Rate

5.76%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$863,680 $863.7K

Cap Rate 7%

$616,914 $616.9K

Cap Rate 9%

$479,822 $479.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,472 SF

Gross rent

$64.4K $14.40/SF

− Vacancy

−$2.7K −$0.60/SF

EGI

$61.7K $13.80/SF

− OpEx

−$18.5K −$4.14/SF

NOI

$43.2K $9.66/SF

Area

Aiken County, SC

Vacancy

4.20%

Lease Rate

$14.40 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$863,680

Cap Rate 7%

$616,914

Cap Rate 9%

$479,822

Alternative Uses

Best Use

Retail

$616.9K

$539.8K – $719.7K (±1% cap)

NOI $43,184 @ 7.0% cap · market cap 5.76%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$862.0K

$754.3K – $1.01M (±1% cap)

NOI $60,340 @ 7.0% cap · market cap 8.05%

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

Property Analytics

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Current Use

Community Care & Counseling Counselor First Baptist Cemetery Cemetery Aiken's First Baptist ... Church Smoke-Stock & Chimney Cleaning ... Hardware & Home Improvement Smoke-Stock BTN Furniture & Home Goods

Suggested Use

Top Pick Building Supply Big Box & Wholesale Store Parking Lot & Garage Storage Facility Garden Center Locksmith

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

1,151

Businesses Nearby

23k

Monthly Visits Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Dining 53% Shops & Services 47%

Mellow Mushroom Dining

12,357 visits/mo 0.2 miles

Bank of America Shops & Services

4,808 visits/mo 0.3 miles

AutoZone Shops & Services

3,320 visits/mo 0.4 miles

TD Bank Shops & Services

2,933 visits/mo 0.1 miles

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 Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

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Frequently Asked Questions

What type of property is this?

Storefront property - Historic property in Aiken's Central Business District with potential uses.

Where is this storefront property located?

The property is located at 120 Chesterfield Street 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: Prime downtown Aiken location within the Central Business District.; Significant potential for a variety of uses.; Historic property with privacy and charm.