Standalone Retail Office with
For Sale
$300,000
116 SW 3rd Avenue, Aberdeen, SD 57401
COMMERCIAL - Aberdeen, SD
Property Size2,881 SF
Price / SF$104.13
Days on Market41
Property Features for 116 SW 3rd Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Standard status
Active
Size
2,881 SF
Taxes and HOA fees
Tax Year
2024
Tax Description
LT 7-10 BK ORIGINAL PLAT EX H1 INC V/A
Tax Annual Amount
9432
Legal Description
LT 7-10 BK ORIGINAL PLAT EX H1 INC V/A
Building Details
Year built
1972
Listing Agency:
Dakota Plains Real Estate & Development
(605) 225-1800
Listed By:
Robin (Rob) K Johnson · License #15391
(605) 225-1800
Added: Jun 22
Last Checked: Aug 1 at 7:06AM
MLS# 25-355
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 offering is a 2,881-square-foot standalone building designed for retail or professional office use, with multiple access points and a multi-lane drive-thru. The property is noted as very visible and configured to support customer-facing service and walk-in traffic. An ATM is scheduled to remain in place with the sale.
The site is described as a signalized corner in Aberdeen’s downtown core with high traffic conditions, including a top 10 traffic count for the market. The location on SW 3rd Avenue provides straightforward approach options given the stated multiple entry points.
For buyers and tenants, the drive-thru configuration and downtown placement make the building particularly relevant for concepts that benefit from both vehicle access and street-level visibility. The combination of standalone positioning and multiple ingress/egress points can help streamline customer flow for retail and office operations alike. Please note that showings require 24-hour notice for corporate approval, and access is limited to weekdays from 9:00 a.m. to 4:00 p.m.
The site is described as a signalized corner in Aberdeen’s downtown core with high traffic conditions, including a top 10 traffic count for the market. The location on SW 3rd Avenue provides straightforward approach options given the stated multiple entry points.
For buyers and tenants, the drive-thru configuration and downtown placement make the building particularly relevant for concepts that benefit from both vehicle access and street-level visibility. The combination of standalone positioning and multiple ingress/egress points can help streamline customer flow for retail and office operations alike. Please note that showings require 24-hour notice for corporate approval, and access is limited to weekdays from 9:00 a.m. to 4:00 p.m.
Key Highlights
- High traffic location (top 10 in Aberdeen)
- Multiple lane drive‑thru
- Signalized corner in downtown core
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $43.2k | $15.00 |
| − Vacancy | −$8.6k | −$3.00 |
| EGI | $34.6k | $12.00 |
| − OpEx | −$8.6k | −$3.00 |
| NOI | $25.9k | $9.00 |
2,881 SF · lease $15.00/SF/yr · vacancy 20.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$370.4K
$324.1K – $432.2K
NOI $25,929 @ 7.0% cap · market cap 8.64%
Second Best
Retail
$317.7K
$278.0K – $370.6K
NOI $22,238 @ 7.0% cap · market cap 7.41%
Theoretical Best
Healthcare Medical
$503.0K
$440.2K – $586.9K
NOI $35,212 @ 7.0% cap · market cap 11.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
824
Businesses Nearby
Balanced
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 Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Standalone corner property with multi-lane drive-thru and multiple access points in a signalized downtown location.
Where is this storefront property located?
The property is located at 116 SW 3rd Avenue Aberdeen, SD.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: High traffic location (top 10 in Aberdeen); Multiple lane drive‑thru; Signalized corner in downtown core
