Tenant-Occupied Mixed-Use
For Sale
$210,000
1124 S Washington Street, Aberdeen, SD 57401
COMMERCIAL - Aberdeen, SD
Property Size2,163 SF
Lot Size0.09 Acres
Price / SF$97.09
Days on Market17
Property Features for 1124 S Washington Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C1, R4
Subdivision
Aberdeen - City
Standard status
Active
Size
2,163 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
S2 LT 6 BK 35 THOMAS ADD & S 2''3'' LT 1 ANNA KAVENS BROWN COUNTY SOUTH DAKOTA
Tax Annual Amount
1957
Legal Description
S2 LT 6 BK 35 THOMAS ADD & S 2''3'' LT 1 ANNA KAVENS BROWN COUNTY SOUTH DAKOTA
Building Details
Year built
1905
Listing Agency:
eXp Realty
(800) 674-6089
Listed By:
Joni Napton
Added: Aug 4
Changed: Aug 18
Last Checked: Aug 20 at 2:06AM
MLS# 26-527
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 2,163-square-foot mixed-use property combines commercial and residential components on a 0.089-acre site. Built in 1905, the property is occupied by a business tenant and has been used in a food-service context, while the existing configuration may support other business applications.
Located at 1124 S Washington Street in Aberdeen, the property provides off-street parking for customers and direct street access. C1 and R4 zoning designations are in place, supporting the property's mixed commercial and residential character.
Located at 1124 S Washington Street in Aberdeen, the property provides off-street parking for customers and direct street access. C1 and R4 zoning designations are in place, supporting the property's mixed commercial and residential character.
Key Highlights
- 2,163‑square‑foot mixed‑use property on a 0.089‑acre site
- Business tenant currently occupies the property
- C1 and R4 zoning designations
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
$16,953
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
8.07%
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%
$339,060
$339.1K
Cap Rate 7%
$242,186
$242.2K
Cap Rate 9%
$188,367
$188.4K
Market Conditions
NOI Build-Up for 2,163 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
$28.6K $13.20/SF
− Vacancy
−$1.4K −$0.66/SF
EGI
$27.1K $12.54/SF
− OpEx
−$10.2K −$4.70/SF
NOI
$17.0K $7.84/SF
Area
Brown County, SD
Vacancy
5.00%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
37.50%
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%
$339,060
Cap Rate 7%
$242,186
Cap Rate 9%
$188,367
Alternative Uses
Best Use
Specialty Retail
$334.8K
$292.9K – $390.6K
NOI $23,433 @ 7.0% cap · market cap 11.16%
Second Best
Mixed Use
$242.2K
$211.9K – $282.6K
NOI $16,953 @ 7.0% cap · market cap 8.07%
Theoretical Best
Healthcare Medical
$377.7K
$330.5K – $440.6K
NOI $26,436 @ 7.0% cap · market cap 12.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
652
Businesses Nearby
15k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 69%
Shops & Services 31%
Scooter's Coffee
Dining
8,503 visits/mo
0.4 miles
Sinclair
Shops & Services
2,451 visits/mo
0.5 miles
First Interstate Bank
Shops & Services
2,314 visits/mo
0.5 miles
Domino's Pizza
Dining
2,047 visits/mo
0.5 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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial and residential components with C1 and R4 zoning and customer parking access.
Where is this mixed-use property located?
The property is located at 1124 S Washington Street Aberdeen, SD.
What is the asking price?
The asking price for this property is $210,000.
What are key features of this property?
This property features: 2,163‑square‑foot mixed‑use property on a 0.089‑acre site; Business tenant currently occupies the property; C1 and R4 zoning designations
