Historic Mixed-Use Building in
117 East 3rd Avenue, Mitchell, SD 57301
For Sale
$1,375,000
Mixed-use property with income potential in downtown Mitchell.
Property Size51,600 SF
Price / SF$26.65
Days on Market355
Property Features for 117 East 3rd Avenue
General Information
Standard status
Size
Property subtype
Building Details
Building Size
Year Built
Listing Agency:
NAI | Sioux Falls
Listed By:
Marcus Benson · License SD #21232
(605) 403-0333
Source:
Naiglobal
Added: Nov 21, 2025
Changed: Aug 8
Last Checked: Jul 25 at 9:22AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of NAI | Sioux Falls
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Investment Insights
Based on property information with market context.
Located in downtown Mitchell, this historic 3-story mixed-use property offers excellent visibility and foot traffic. The building, full of character and architectural charm, is zoned for Central Business. It features income-generating potential with 5 commercial spaces and 1 storage space, along with 15 residential apartments. The apartment occupancy rate is 77.8%. The residential units consist of 5 studio apartments, 6 one-bedroom/one-bath apartments, 2 two-bedroom/one-bath apartments, 1 three-bedroom/one-bath apartment, and 1 five-bedroom/two-bath apartment, which is currently operating as an Airbnb. The gross annual revenue is $191,700. Building signage is available. The property offers endless possibilities and historic charm in a great location.
Key Highlights
- Prime downtown location with high visibility and foot traffic.
- Income‑generating mixed‑use property with commercial and residential units.
- Historic building with architectural charm and character.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
703
Businesses Nearby
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Business Placement
Demographics for 57301, SD
18,759
Population
9,148
Households
2.1
Avg Household Size
40
Median Age
25%
College-Educated
91%
High-School Grad
238.3 sq mi
ZIP Area
79
Density / Sq Mi
$60,671
Median Household Income
$39,545
Median Earnings
$775
Median Rent
$191,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property with income potential in downtown Mitchell.
Where is this mixed-use property located?
The property is located at 117 East 3rd Avenue Mitchell, SD.
What is the asking price?
The asking price for this property is $1,375,000.
What are key features of this property?
This property features: Prime downtown location with high visibility and foot traffic.; Income‑generating mixed‑use property with commercial and residential units.; Historic building with architectural charm and character.
