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    2306 S Mentzer St Mitchell, SD 57301

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    For Sale
    $1,750,000

    New construction retail property with long-term corporate ground lease.

    Property size:
    11,480 SF
    Lot size:
    2.15 Acres

    Property Features for 2306 S Mentzer St

    General Information

    Size
    11,480 SF
    Lot size
    2.15 Acres

    Source: Marcus & Millichap | Phoenix Agent Mark Ruble

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

    Overview

    New Retail NNN Ground Lease

    This is a newly constructed retail property featuring a 20-year absolute triple-net (NNN) corporate ground lease. Constructed in 2024, the property benefits from its location between a Super Walmart and Menard's. The property is positioned in close proximity to Interstate 90, a connector for the Sioux Falls city area. The surrounding area includes national tenants such as Cabela's, Tractor Supply Co, Sherwin Williams Paint Store, and Dollar Tree. The lease includes 10 percent rental increases every five years, with six, five-year renewal options. The value of improvements exceeds the purchase price.
    Insight Report Location Intelligence

    Current Use by Public Records

    Les Schwab Tire ... Tire Shop

    Suggested Use

    Realty agency Restaurant Law Firm Building Supply Spa & Massage Wholesale Shop Hair Salon Auto Repair Shop Nail Salon 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
    -98.0121353
    Latitude
    43.6852712

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    FAQs

    What type of property is this?
    Storefront property - New construction retail property with long-term corporate ground lease.
    Where is this storefront property located?
    The property is located at 2306 S Mentzer St Mitchell, SD.
    What is the asking price?
    The asking price for this property is $1,750,000.
    What are key features of this property?
    This property features: - Brand New 20-Year Absolute Triple-Net (NNN) Corporate Ground Lease; - Exceptional Residual Value - Value of Improvements well Exceeds Purchase Price; - Enjoy 10 Percent Rental Increases Every Five Years with Six, Five Year Renewals
    (602) 770-2935
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    2306 S Mentzer St 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
    2306 S Mentzer St Mitchell, SD 57301
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