Building Details

Year Built 1900

Listing Agency: Century 21 Northern Advantage

Listed By: Ashton Davis · License #SD20519 Show Phone

Source: Crexi

Added: May 6 Changed: Oct 15 Last Checked: Oct 16 at 9:17AM

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Investment Insights

Based on property information with market context.

Built in 1900, this 3,504-square-foot mixed-use property combines commercial space with an apartment on the upper level. The residential component includes two bedrooms and one bathroom and is identified as income-producing. Personal property is available with the sale, providing an additional component to the transaction.

The building is located at 1023 S Main Street in Aberdeen, South Dakota. Its combination of commercial and residential space supports a mixed-use ownership profile in an established building.

Key Highlights

• 3,504‑square‑foot mixed‑use building constructed in 1900
• Two‑bedroom, one‑bathroom apartment above the commercial space
• Upper‑level apartment is identified as income‑producing

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$16,833

Cap Rate

5.71%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$336,660 $336.7K

Cap Rate 7%

$240,471 $240.5K

Cap Rate 9%

$187,033 $187.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,504 SF

Gross rent

$34.1K $9.72/SF

− Vacancy

−$3.5K −$0.99/SF

EGI

$30.6K $8.73/SF

− OpEx

−$13.8K −$3.93/SF

NOI

$16.8K $4.80/SF

Area

Brown County, SD

Vacancy

10.14%

Lease Rate

$9.72 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$336,660

Cap Rate 7%

$240,471

Cap Rate 9%

$187,033

Alternative Uses

Best Use

Specialty Retail

$542.3K

$474.5K – $632.7K (±1% cap)

NOI $37,961 @ 7.0% cap · market cap 12.87%

Second Best

Mixed Use

$392.3K

$343.3K – $457.7K (±1% cap)

NOI $27,463 @ 7.0% cap · market cap 9.31%

Theoretical Best

Healthcare Medical

$611.8K

$535.3K – $713.8K (±1% cap)

NOI $42,826 @ 7.0% cap · market cap 14.52%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Danger von Dempsey's ... Restaurant

Suggested Use

Top Pick Bakery (Bike/Boat/Book/etc) Store Catering Service Cosmetic Store Tanning Salon Pet Store & Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,072

Businesses Nearby

29k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 53% Dining 38% Home Improvements & Furnishings 6% Beauty & Spa 2%

Scooter's Coffee Dining

8,503 visits/mo 0.3 miles

Family Dollar Shops & Services

5,596 visits/mo 0.5 miles

Napa Auto Parts Shops & Services

2,581 visits/mo 0.5 miles

U.S. Bank Shops & Services

2,472 visits/mo 0.4 miles

Sinclair Shops & Services

2,451 visits/mo 0.3 miles

Demographics for 57401, SD

32,275

Population

15,016

Households

2.1

Avg Household Size

37

Median Age

35%

College-Educated

93%

High-School Grad

278.8 sq mi

ZIP Area

116

Density / Sq Mi

$68,183

Median Household Income

$40,562

Median Earnings

$787

Median Rent

$216,300

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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Frequently Asked Questions

What type of property is this?

Mixed-use property - Commercial space is paired with an income-producing two-bedroom apartment above.

Where is this mixed-use property located?

The property is located at 1023 S Main Street Aberdeen, SD.

What is the asking price?

The asking price for this property is $295,000.

What are key features of this property?

This property features: 3,504‑square‑foot mixed‑use building constructed in 1900; Two‑bedroom, one‑bathroom apartment above the commercial space; Upper‑level apartment is identified as income‑producing