Standalone Retail Office with
116 SW 3rd Avenue Aberdeen, SD 57401
116 SW 3rd Avenue, Aberdeen, SD, 57401
$300,000
For Sale
$300,000
COMMERCIAL - Aberdeen, SD
Property Size2,881 SF
Price / SF$104.13
Days on Market30
Property Features for 116 SW 3rd Avenue
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Standard status
- Active
- Size
- 2,881 SF
Taxes and HOA fees
- Tax Year
- 2024
- Tax Description
- LT 7-10 BK ORIGINAL PLAT EX H1 INC V/A
- Tax Annual Amount
- 9432
Building Details
- Year built
- 1972
Listing Agency
Dakota Plains Real Estate & Development
(605) 225-1800
10 Railroad Ave SW Suite 209 PO Box 737, Aberdeen, SD
Listed by
Robin (Rob) K Johnson · License #15391
(605) 225-1800
Added: Jun 22 Checked: Jul 21 at 6:06 am
MLS# 25-355
Copyright © 2026 Aberdeen Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This offering is a 2,881-square-foot standalone building designed for retail or professional office use, with multiple access points and a multi-lane drive-thru. The property is noted as very visible and configured to support customer-facing service and walk-in traffic. An ATM is scheduled to remain in place with the sale.
The site is described as a signalized corner in Aberdeen’s downtown core with high traffic conditions, including a top 10 traffic count for the market. The location on SW 3rd Avenue provides straightforward approach options given the stated multiple entry points.
For buyers and tenants, the drive-thru configuration and downtown placement make the building particularly relevant for concepts that benefit from both vehicle access and street-level visibility. The combination of standalone positioning and multiple ingress/egress points can help streamline customer flow for retail and office operations alike. Please note that showings require 24-hour notice for corporate approval, and access is limited to weekdays from 9:00 a.m. to 4:00 p.m.
The site is described as a signalized corner in Aberdeen’s downtown core with high traffic conditions, including a top 10 traffic count for the market. The location on SW 3rd Avenue provides straightforward approach options given the stated multiple entry points.
For buyers and tenants, the drive-thru configuration and downtown placement make the building particularly relevant for concepts that benefit from both vehicle access and street-level visibility. The combination of standalone positioning and multiple ingress/egress points can help streamline customer flow for retail and office operations alike. Please note that showings require 24-hour notice for corporate approval, and access is limited to weekdays from 9:00 a.m. to 4:00 p.m.
Key Highlights
- High traffic location (top 10 in Aberdeen)
- Multiple lane drive‑thru
- Signalized corner in downtown core
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $43.2k | $15.00 |
| − Vacancy | −$8.6k | −$3.00 |
| EGI | $34.6k | $12.00 |
| − OpEx | −$8.6k | −$3.00 |
| NOI | $25.9k | $9.00 |
2,881 SF · lease $15.00/SF/yr · vacancy 20.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$370.4K
$324.1K – $432.2K
NOI $25,929 @ 7.0% cap · market cap 8.64%
Second Best
Retail
$317.7K
$278.0K – $370.6K
NOI $22,238 @ 7.0% cap · market cap 7.41%
Theoretical Best
Healthcare Medical
$503.0K
$440.2K – $586.9K
NOI $35,212 @ 7.0% cap · market cap 11.74%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Wells Fargo Drive-Up ...
Bank
Similar For Sale Nearby
Similar Off Market Nearby
- Rustic Roots Florals — 224 1st Ave SE #2, Aberdeen, SD 57401
- Annette's Floral Boutique — 122 N Main St, Aberdeen, SD 57401
FAQs
What type of property is this?
Storefront property - Standalone corner property with multi-lane drive-thru and multiple access points in a signalized downtown location.
Where is this storefront property located?
The property is located at 116 SW 3rd Avenue Aberdeen, SD.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: High traffic location (top 10 in Aberdeen); Multiple lane drive‑thru; Signalized corner in downtown core
