Updated Flex Space with
For Sale
$184,999
1105 SW 6th Avenue, Aberdeen, SD 57401
COMMERCIAL - Aberdeen, SD
Property Size688 SF
Price / SF$268.89
Days on Market111
Property Features for 1105 SW 6th Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
Aberdeen - City
Standard status
Active
Size
688 SF
Taxes and HOA fees
Tax Description
LT 1 HOFF CONS SD (L1-2B2 PLEASANT HILL)
Tax Annual Amount
1295
Legal Description
LT 1 HOFF CONS SD (L1-2B2 PLEASANT HILL)
Building Details
Year built
1989
Listing Agency:
Dakota Plains Real Estate & Development
(605) 225-1800
Listed By:
Robin (Rob) K Johnson · License #15391
(605) 225-1800
Added: May 1
Changed: Aug 18
Last Checked: Aug 19 at 1:06AM
MLS# 26-288
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 688-square-foot flex property combines an updated main building with a separate garage area, creating a practical configuration for retail or shop use. The primary building measures 28' X 16' and provides 448 sf, while the 20' X 16' garage contributes 240 sf. Improvements include a newer metal roof and siding, and the property was built in 1989.
Positioned along US Highway 12, also known as Sixth Avenue, the site has direct access from the highway as well as the city street network. Its compact layout and dual-access configuration support a range of commercial uses suited to the existing retail and shop format.
Positioned along US Highway 12, also known as Sixth Avenue, the site has direct access from the highway as well as the city street network. Its compact layout and dual-access configuration support a range of commercial uses suited to the existing retail and shop format.
Key Highlights
- 688 sf total, including 448 sf main building and 240 sf garage
- Main building measures 28' X 16'
- Garage measures 20' X 16'
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$5,313
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
2.87%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$106,260
$106.3K
Cap Rate 7%
$75,900
$75.9K
Cap Rate 9%
$59,033
$59.0K
Market Conditions
NOI Build-Up for 688 SF
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.
Gross rent
$9.1K $13.20/SF
− Vacancy
−$908 −$1.32/SF
EGI
$8.2K $11.88/SF
− OpEx
−$2.9K −$4.16/SF
NOI
$5.3K $7.72/SF
Area
Brown County, SD
Vacancy
10.00%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$106,260
Cap Rate 7%
$75,900
Cap Rate 9%
$59,033
Alternative Uses
Best Use
Flex RnD
$75.9K
$66.4K – $88.6K
NOI $5,313 @ 7.0% cap · market cap 2.87%
Second Best
Retail
$75.9K
$66.4K – $88.5K
NOI $5,311 @ 7.0% cap · market cap 2.87%
Theoretical Best
Healthcare Medical
$120.1K
$105.1K – $140.2K
NOI $8,409 @ 7.0% cap · market cap 4.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,392
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
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 Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Updated commercial space combines a retail-ready main area with an attached garage and access from both highway and city streets.
Where is this flex space located?
The property is located at 1105 SW 6th Avenue Aberdeen, SD.
What is the asking price?
The asking price for this property is $184,999.
What are key features of this property?
This property features: 688 sf total, including 448 sf main building and 240 sf garage; Main building measures 28' X 16'; Garage measures 20' X 16'
