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    Established Egan Commercial Property For Sale Title is generated by Realmo AI

    407 Bill Davis St Hwy 34 St, Egan, SD 57024

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    For Sale
    $650,000

    COMMERCIAL - Egan, SD

    Lot size:
    0.75 Acres
    Added:
    Sep 22, 2025
    Days on Market:
    258
    Last Refresh:
    Jun 6 at 11:06 am

    Property Features for 407 Bill Davis St Hwy 34 St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    nadc and nadc2
    Security features
    Security Lighting
    Standard status
    Active
    APN
    23.01.28.03
    Lot size
    0.75 Acres

    Taxes and HOA fees

    Tax Description
    see agent remarks
    Tax Annual Amount
    1835

    Utilities

    Utilities
    Water Available
    Heating system
    Central
    Cooling system
    Central Air

    Building Details

    Year built
    1980
    Flooring type
    Concrete, Vinyl, Carpet
    Building materials
    Frame, Metal Siding
    Roof type
    Metal

    We can help!

    Listing Contact
    Mike Hendrickson

    Listing agent Mike Hendrickson

    Listing office Landmark Realty & Auction 505 W 4th St, Dell Rapids, SD

    Listing date Sep 22, 2025

    MLS# 22507340 Listing URL

    Copyright © 2026 Realtor Association of the Sioux Empire MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Multi‑business property includes bar and restaurant plus a convenience store and gas station
    • Bar area seats about 55 patrons and includes an outdoor bar/event space with a large stage and covered bar
    • Convenience store operates with off‑sale beer and liquor, snacks, coffee bar, and ice cream machine
    • Gas station includes 2 gas pumps, plus 2 additional updated card‑ready pumps included (not currently installed)
    • Kitchen includes two fryers, three pizza ovens, multiple refrigerators and deep freezers, steam table, and spacious prep area
    • New walk‑in freezer installed last year; large walk‑in beer cooler, video lottery room, and on‑site office and storage

    Overview

    This commercial property in Egan, SD, presents an opportunity to own a well-established business with high visibility and consistent traffic. The property combines a bar and restaurant, serving customers since the mid-1990s, with a convenience store and gas station that has been operating since 1980. The convenience store features two gas pumps, with two additional updated, card-ready pumps included with the property but currently not installed. It offers off-sale liquor and beer, a variety of snacks, a coffee bar, and an ice cream machine. The property includes a large walk-in beer cooler, a video lottery room near the bar and restrooms, ample storage, and a dedicated office space. The bar area seats approximately 55 patrons and includes two dart machines. The full kitchen is equipped with two fryers, three pizza ovens, multiple refrigerators and deep freezers, a steam table, and a spacious prep area. A new walk-in freezer was installed last year. The property features an outdoor bar and event space with a large stage and a covered bar area, suitable for live music, wedding receptions, and other special events. Situated on over half an acre (0.7518 acres), the property offers abundant parking and space to host large events.
    Property Profile Location Intelligence

    Current Use by Public Records

    Grocery and convenience stores

    Map

    City
    Egan
    County
    Moody
    State
    South Dakota
    Longitude
    -96.65384
    Latitude
    43.997532

    FAQs

    What type of property is this?
    Grocery and convenience store - Thriving bar, restaurant, and convenience store on 0.75 acres.
    Where is this grocery and convenience store located?
    The property is located at 407 Bill Davis St Hwy 34 St Egan, SD.
    What is the asking price?
    The asking price for this property is $650,000.
    What are key features of this property?
    This property features: Multi‑business property includes bar and restaurant plus a convenience store and gas station; Bar area seats about 55 patrons and includes an outdoor bar/event space with a large stage and covered bar; Convenience store operates with off‑sale beer and liquor, snacks, coffee bar, and ice cream machine
    (605) 428-3909
    We can help!
    Listing Contact
    Mike Hendrickson
    Request Owner's contact information
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    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.

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    407 Bill Davis St Hwy 34 St, Egan, SD 57024
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