Two-Building Flex Industrial
For Sale
$960,000
2821 8th Ave, Aberdeen, SD 57401
Two buildings on 2.6 acres include heated shop space, cold storage, and storage shops with double and single bays.
Property Size10,700 SF
Lot Size2.60 Acres
Price / SF$89.72
Days on Market13
Property Features for 2821 8th Ave
General Information
Standard status
Active
Size
10,700 SF
Lot size
2.60 Acres
Lease Type
NNN
Building Details
Year Built
1978
Listing Agency:
Dakota Plains Real Estate & Development
(605) 225-1822
Listed By:
Sterling Jones
Source:
Firstpremierrealestate
Added: Jul 21
Changed: Jul 23
Last Checked: Aug 1 at 8:50AM
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 Dakota Plains Real Estate & Development
Investment Insights
Based on property information with market context.
This two-building flex/industrial property totals 10,700 square feet on 2.6 acres. The storage shop building is set up with two double shops and a single shop, and it is currently leased for $2,950 per month. That space includes in-floor heat and a boiler.
The main building offers a wider mix of space with office area, a heated shop/warehouse component, and cold storage in the back. The property also provides lease options listed at $6 per square foot NNN.
Overall, the layout supports flexible tenant use across heated work areas, cold storage, and associated office space, with multiple shop-style configurations already reflected in the existing storage shop setup.
The main building offers a wider mix of space with office area, a heated shop/warehouse component, and cold storage in the back. The property also provides lease options listed at $6 per square foot NNN.
Overall, the layout supports flexible tenant use across heated work areas, cold storage, and associated office space, with multiple shop-style configurations already reflected in the existing storage shop setup.
Key Highlights
- Two buildings on 2.6 acres, built in 1978
- Storage shops include 2 double bays and a single bay, currently generating $2,950/month with boiler in floor heat
- Main building features heated shop/warehouse space and cold storage in the back
Financial Insights For Flex RnD
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 | $141.2k | $13.20 |
| − Vacancy | −$14.1k | −$1.32 |
| EGI | $127.1k | $11.88 |
| − OpEx | −$44.5k | −$4.16 |
| NOI | $82.6k | $7.72 |
10,700 SF · lease $13.20/SF/yr · vacancy 10.00% · expense 35.00%
Alternative Uses
Best Use
Flex RnD
$1.18M
$1.03M – $1.38M
NOI $82,625 @ 7.0% cap · market cap 8.61%
Second Best
Industrial
$346.7K
$303.4K – $404.5K
NOI $24,268 @ 7.0% cap · market cap 2.53%
Theoretical Best
Healthcare Medical
$1.87M
$1.63M – $2.18M
NOI $130,775 @ 7.0% cap · market cap 13.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
82
Businesses Nearby
Well-served
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 Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Two buildings on 2.6 acres include heated shop space, cold storage, and storage shops with double and single bays.
Where is this flex space located?
The property is located at 2821 8th Ave Aberdeen, SD.
What is the asking price?
The asking price for this property is $960,000.
What are key features of this property?
This property features: Two buildings on 2.6 acres, built in 1978; Storage shops include 2 double bays and a single bay, currently generating $2,950/month with boiler in floor heat; Main building features heated shop/warehouse space and cold storage in the back
