Mixed-Use Building with
For Sale
$295,000
1023 S MAIN Street, Aberdeen, SD 57401
Commercial, Aberdeen, SD
Property Size3,504 SF
Lot Size0.08 Acres
Price / SF$84.19
Days on Market144
Property Features for 1023 S MAIN Street
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
Aberdeen - City
Standard status
Active
Size
3,504 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Description
LOT 7 BLOCK 39 THOMAS ADDITION BROWN COUNTY, SOUTH DAKOTA
Tax Annual Amount
3335
Legal Description
LOT 7 BLOCK 39 THOMAS ADDITION BROWN COUNTY, SOUTH DAKOTA
Building Details
Year built
1900
Listing Agency:
Century 21 Northern Advantage
(605) 225-7179
Listed By:
Ashton Davis · License #SD20519
(605) 228-1067
Added: May 17
Changed: Sep 8
Last Checked: Oct 7 at 10:06AM
MLS# 26-62
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 mixed-use property contains 3,504 square feet within a building constructed in 1900. The commercial component is accompanied by an apartment above, providing two bedrooms and one bathroom. Personal property is available with the sale, adding flexibility for an owner-operator or purchaser acquiring the existing business-related contents.
The property is located at 1023 S MAIN Street in Aberdeen, South Dakota, along South Main Street. Its combination of commercial space and an income-producing residential unit creates a distinct two-part configuration within a compact 0.0821-acre parcel.
The property is located at 1023 S MAIN Street in Aberdeen, South Dakota, along South Main Street. Its combination of commercial space and an income-producing residential unit creates a distinct two-part configuration within a compact 0.0821-acre parcel.
Key Highlights
- 3,504‑square‑foot mixed‑use building
- Upper apartment includes 2 bedrooms and 1 bathroom
- Apartment provides income‑producing residential space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,047
Cap Rate
9.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$540,940
$540.9K
Cap Rate 7%
$386,386
$386.4K
Cap Rate 9%
$300,522
$300.5K
Market Conditions
NOI Build-Up for 3,504 SF
Gross rent
$42.0K $12.00/SF
− Vacancy
−$3.4K −$0.97/SF
EGI
$38.6K $11.03/SF
− OpEx
−$11.6K −$3.31/SF
NOI
$27.0K $7.72/SF
Area
Brown County, SD
Vacancy
8.11%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$540,940
Cap Rate 7%
$386,386
Cap Rate 9%
$300,522
Alternative Uses
Best Use
Mixed Use
$392.3K
$343.3K – $457.7K
NOI $27,463 @ 7.0% cap · market cap 9.31%
Second Best
Retail
$386.4K
$338.1K – $450.8K
NOI $27,047 @ 7.0% cap · market cap 9.17%
Theoretical Best
Healthcare Medical
$611.8K
$535.3K – $713.8K
NOI $42,826 @ 7.0% cap · market cap 14.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Yes
Paved road access
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial space on South Main Street includes an upper-level two-bedroom apartment and associated personal property.
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; Upper apartment includes 2 bedrooms and 1 bathroom; Apartment provides income‑producing residential space
