35 & 37 Varden Dr
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35 & 37 Varden Dr
2 Office Properties Offered at $1,750,000 in Aiken, SC
Investment Highlights
- This property is located off Hitchcock Parkway
Executive Summary
35 and 37 Varden Drive are two professional office buildings located off of Hitchcock Parkway in Aiken, South Carolina. The two buildings total approximately 20,000 square feet and are currently leased to 8 tenants across 10 suites, ranging from 700 square feet to 5,500 square feet. This investment opportunity gives a potential buyer immediate cash flow on an 100% occupied property, but also leasing potential on the remaining 15% vacant. The buildings are located within the Hitchcock Office Park, a collection of 4 buildings located off Hitchcock Parkway, a major thoroughfare with an average of 21,300 cars per day. Monthly property owners association dues are $250 per building per month. Additionally, the property includes more land where a third building could be built.
Taxes & Operating Expenses (Actual - 2022) |
Annual |
---|---|
Gross Rental Income | $228,192 |
Other Income | - |
Vacancy Loss | - |
Effective Gross Income | $228,192 |
Taxes | - |
Operating Expenses | - |
Total Expenses | $53,064 |
Net Operating Income | $175,128 |
Taxes & Operating Expenses (Actual - 2022)
Gross Rental Income | |
---|---|
Annual | $228,192 |
Other Income | |
---|---|
Annual | - |
Vacancy Loss | |
---|---|
Annual | - |
Effective Gross Income | |
---|---|
Annual | $228,192 |
Taxes | |
---|---|
Annual | - |
Operating Expenses | |
---|---|
Annual | - |
Total Expenses | |
---|---|
Annual | $53,064 |
Net Operating Income | |
---|---|
Annual | $175,128 |
Property Facts
Price | $1,750,000 | Status | Active |
Price / SF | $87.50 / SF | Number of Properties | 2 |
Sale Conditions | Bulk/Portfolio Sale | Individually For Sale | 0 |
Cap Rate | 10.01% | Total Building Size | 20,000 SF |
Sale Type | Investment | Total Land Area | 1.43 AC |
Price | $1,750,000 |
Price / SF | $87.50 / SF |
Sale Conditions | Bulk/Portfolio Sale |
Cap Rate | 10.01% |
Sale Type | Investment |
Status | Active |
Number of Properties | 2 |
Individually For Sale | 0 |
Total Building Size | 20,000 SF |
Total Land Area | 1.43 AC |
Properties
Property Name / Address | Property Type | Size | Year Built | Individual Price |
---|---|---|---|---|
37 Varden Dr, Aiken, SC 29803 | Office | 9,370 SF | 1984 | - |
35 Varden Dr, Aiken, SC 29803 | Office | 10,630 SF | 1984 | - |
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35 & 37 Varden Dr
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