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    117 East 3Rd Ave Mitchell, SD 57301

    For Sale
    $2,050,000

    Mixed-use property with income potential in downtown Mitchell.

    Property size:
    51,600 SF

    Property Features for 117 East 3Rd Ave

    General Information

    Size
    51,600 SF

    Building Details

    Year built
    1915

    Source: Marcus Mahlen, CCIM, SIOR Agent Marcus Mahlen, CCIM, SIOR

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Historic Mixed-Use Building in Mitchell

    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.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Bonnie's Dekor Florist

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Mitchell
    County
    Davison
    State
    South Dakota
    Longitude
    -98.0252832
    Latitude
    43.7114226

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    FAQs

    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 Ave Mitchell, SD.
    What is the asking price?
    The asking price for this property is $2,050,000.
    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.
    (605) 228-9744
    Request Owner's contact information
    117 East 3Rd Ave Mitchell, SD 57301
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    Mitchell, SD 57301
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    117 East 3Rd Ave Mitchell, SD 57301
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