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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
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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  • Listing ID: 24499208

  • Date on Market: 11/16/2021

  • Last Updated:

  • Address: 35 & 37 Varden Dr, Aiken, SC

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