Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1601 NE Milwaukee Ave Aberdeen, SD 57401

    Sponsored
    For Sale
    $1,500,000

    Commercial - Aberdeen, SD

    Property size:
    11,460 SF
    Lot size:
    5.90 Acres
    Days on Market:
    10
    Last Refresh:
    Jan 25 at 4:06 am

    Property Features for 1601 NE Milwaukee Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Size
    11,460 SF
    Lot size
    5.90 Acres

    Building Details

    Year built
    1994
    Architectural style
    Other

    We can help!

    Listing Contact
    Robin (Rob) K Johnson
    Robin (Rob) K Johnson

    Dakota Plains Real Estate & Development (605) 225-1800

    Listing agent Robin (Rob) K Johnson (605) 225-1800 License #15391

    Listing date Jan 16, 2026

    MLS# 25-750 Listing URL

    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.

    Learn more

    Property Insight Report

    Overview

    Versatile Building on 5.9 Acres

    This is a large, versatile, multi-use building with tons of flexibility and potential. The building has 11,460 square feet of space and is situated on 5.9 acres. Formerly the New Beginnings Center, the property is located in Aberdeen, South Dakota.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    (LSS) Lutheran Social ... Social Services Organization

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Aberdeen
    County
    Brown
    State
    South Dakota
    Longitude
    -98.463138
    Latitude
    45.46509

    Nearby Similar for Sale

    • $3,200,000
      6,196 SF

      Luxurious Office Property in Aberdeen

      Distinctive commercial office property with privacy and professional amenities.
      1911 NE 8Th Ave, Aberdeen, SD 57401
      View Details
    • Contact for pricing
      10,490 SF

      Aberdeen Office Building with Storage

      Office building with cold and climate-controlled storage and remodel.
      11 N Dakota St, Aberdeen, SD 57401
      View Details
    • $649,000
      6,500 SF

      Richmond Pavilion Event Space

      Well-maintained event space with ample parking near Richmond.
      12805 S Shore Dr, Aberdeen, SD 57401
      View Details
    • $2,999,900
      6,000 SF

      Turnkey Restaurant in Aberdeen, SD

      Turnkey restaurant in a recently built space on a main road.
      2411 SE 6Th Ave, Aberdeen, SD 57401
      View Details
    • $184,900

      Aberdeen Multi-Family Project Opportunity

      Multi-family property with potential for duplex or triplex conversion.
      1502 S Grant St, Aberdeen, SD 57401
      View Details
    • $1,699,900
      25,100 SF

      Aberdeen Venue: Bar & Event

      Vibrant Aberdeen venue for weddings, concerts, meetings, and more.
      316 S 2Nd St, Aberdeen, SD 57401
      View Details
    • $629,900
      4,322 SF

      Aberdeen Commercial Property For Sale

      Industrial property with lease option in Aberdeen, South Dakota.
      811 SE 3Rd Ave, Aberdeen, SD 57401
      View Details
    • $147,000
      Pending

      Aberdeen Triplex: Investor Opportunity

      Triplex in Aberdeen with high occupancy and recent renovations.
      211 N Lincoln St, Aberdeen, SD 57401
      View Details
    • $1,000,000
      16,401 SF

      Furnished Office Building in Aberdeen

      Well-maintained, fully furnished office building in Aberdeen's downtown business core.
      115 SW 1St Ave, Aberdeen, SD 57401
      View Details
    • $216,900

      Aberdeen Triplex with Rental History

      Turn-key triplex in Aberdeen with a solid rental history.
      909 S Lloyd St, Aberdeen, SD 57401
      View Details
    • $515,000
      27,220 SF

      Aberdeen Flex-Use Industrial Space

      Large industrial space with offices, loading docks, and overhead doors.
      1 S 3Rd St, Aberdeen, SD 57401
      View Details
    • $269,000
      5,700 SF

      Main Street Retail Opportunity

      Versatile retail property on Main Street in Aberdeen, South Dakota.
      220 N Main St, Aberdeen, SD 57401
      View Details

    FAQs

    What type of property is this?
    School - Large, multi-use building with flexibility and potential on 5.9 acres.
    Where is this school located?
    The property is located at 1601 NE Milwaukee Ave Aberdeen, SD.
    What is the asking price?
    The asking price for this property is $1,500,000.
    What are key features of this property?
    This property features: - Large 11,460 sf building; - Situated on a generous 5.9 acre lot.; - Versatile, multi-use building offering many possibilities.
    (605) 225-1800
    Request Owner's contact information
    1601 NE Milwaukee Ave Aberdeen, SD 57401
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1601 NE Milwaukee Ave
    Aberdeen, SD 57401
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1601 NE Milwaukee Ave Aberdeen, SD 57401
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Robin (Rob) K Johnson
    Robin (Rob) K Johnson
    Real Estate License ID: 15391
    (605) 225-1800
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.