Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Industrial Building Near Highway 37 Title is generated by Realmo AI

    1408 W 8th Ave, Mitchell, SD

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    5,292 SF industrial building near Hwy 37 bypass.

    Type:INDUSTRIAL
    Property size:
    5,292 SF
    Lot size:
    1.69 Acres
    Price / SF:
    $139/SF
    Added:
    Oct 16, 2025
    Days on Market:
    218
    Last Refresh:
    Apr 5 at 10:37 pm

    Property Features for 1408 W 8th Ave

    General Information

    Standard status
    Active
    Size
    5,292 SF
    Lot size
    1.69 Acres
    Property subtype
    INDUSTRIAL

    We can help!

    Listing Contact
    Brian Eliason
    Brian Eliason

    Listing agent Brian Eliason License #17988

    Listing office Janklow Eliason Real Estate

    Listing date Oct 16, 2025

    Source Moodyscre

    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 Janklow Eliason Real Estate

    HighLights

    • Strategic location just off Hwy 37 bypass in a high‑traffic area.
    • Generous space suitable for a wide range of commercial or light manufacturing uses.
    • Industrial‑grade amenities.
    • Excellent access.
    • Built in 2003.
    • Zoning is Transportation, Warehousing and Commercial District.

    Overview

    This 5,292 square foot steel span building, constructed in 2003, is located just off Highway 37 bypass in a high-traffic area. The property is zoned for Transportation, Warehousing, and Commercial District uses. It offers strategic location, excellent access, generous space, and industrial-grade amenities suited for a wide range of commercial or light manufacturing uses.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Robert Johnson Construction Construction Company

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Mitchell
    County
    Davison
    State
    South Dakota
    Longitude
    -98.0458
    Latitude
    43.7169

    Nearby Similar for Sale

    • $750,000
      4,160 SF

      Brick Building in High-Traffic Area

      4,000+ sq ft brick building with ample parking.
      2000 N Kimball St, Mitchell, SD
      View Details
    • $829,000
      6,840 SF

      Commercial Property Near Havens Ave

      1.04-acre commercial property ideal for various business endeavors.
      715 S Main St, Mitchell, SD
      View Details
    • $1,600,000

      93-Room Motel For Sale

      93-room motel with seasonal heated pool and ample parking.
      1309 S. Ohlman Street | Mitchell, SD 57301
      View Details
    • $1,230,000
      2,560 SF

      Retail and Restaurant Opportunity

      Retail store, restaurant, and office space available for lease.
      N Main St, Mitchell, SD
      View Details
    • $1,300,000
      6,720 SF

      Modern Retail Building For Sale

      Modern commercial building with high traffic location and highway access.
      1601 S Ohlman Street, Mitchell, SD
      View Details
    • $1,295,000
      8,988 SF

      Downtown Mitchell Commercial Space Available

      Remodeled commercial building with open space and commercial kitchen.
      615 N Main St, Mitchell, SD 57301
      View Details
    • $650,000
      13,448 SF

      Retail Property with Drive-Through Canopy

      Retail property featuring a drive-through, ample parking, and high visibility.
      1421 N Main St, Mitchell, SD
      View Details
    • $26,400,000
      92,700 SF

      Mitchell Retail Shopping Center For Sale

      92,700 SF shopping center in Mitchell, South Dakota.
      601 Cabela Dr, Mitchell, SD
      View Details
    • $1,200,000

      Established Campground on 11 Acres

      Campground with 66 campsites, pool, and rental cabins.
      25474 403rd Ave, Mitchell, SD
      View Details
    • $1,750,000
      11,480 SF

      New Retail NNN Ground Lease

      New construction retail property with long-term corporate ground lease.
      2306 S Mentzer St, Mitchell, SD
      View Details
    • $99,900
      1,990 SF

      Storefront Near Corn Palace

      Affordable storefront location near the World's Only Corn Palace.
      505 N Main St, Mitchell, SD
      View Details
    • $525,000
      944 SF

      Commercial Property with Parking Lot

      Commercial property featuring office space, shop building, and parking.
      404 W 1st Ave, Mitchell, SD
      View Details

    FAQs

    What type of property is this?
    Manufacturing property - 5,292 SF industrial building near Hwy 37 bypass.
    Where is this manufacturing property located?
    The property is located at 1408 W 8th Ave Mitchell, SD.
    What is the asking price?
    The asking price for this property is $739,000.
    What are key features of this property?
    This property features: Strategic location just off Hwy 37 bypass in a high‑traffic area.; Generous space suitable for a wide range of commercial or light manufacturing uses.; Industrial‑grade amenities.
    (605) 999-4240 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Brian Eliason
    Brian Eliason
    Real Estate License ID: 17988
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1408 W 8th Ave, Mitchell, SD
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!