In this paper, we explore the characteristics of a concrete block as a communication medium with piezoelectric transducers. Lead zirconate titanate (PZT) is a piezoceramic material used in smart materials intended for structural health monitoring (SHM). Additionally, a PZT based smart aggregate (SA) is capable of implementing stress wave communications which is utilized for investigating the properties of an SA based concrete channel. Our experiments characterize single-input single-output and multiple-input multiple-output (MIMO) concrete channels in order to determine the potential capacity limits of SAs for stress wave communication. We first provide estimates and validate the concrete channel response. Followed by a theoretical upper bound for data rate capacity of our two channels, demonstrating a near-twofold increase in channel capacity by utilizing multiple transceivers to form an MIMO system. Our channel modeling techniques and results are also helpful to researchers using SAs with regards to SHM, energy harvesting and stress wave communications.