Building Details

Year built 1994

Listing Agency: Dakota Plains Real Estate & Development Show Phone

Listed By: Robin (Rob) K Johnson · License #15391 Show Phone

Added: Aug 18 Changed: Oct 5 Last Checked: Oct 5 at 4:06PM

Report an Issue

MLS# 25-750

Copyright © 2026 Aberdeen Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Investment Insights

Based on property information with market context.

This mixed-use property includes an 11,460-square-foot building situated on 5.9 acres. Constructed in 1994, the property offers a broad interior footprint for a range of commercial, institutional, or other mixed-use configurations supported by the existing building layout.

The property is located at 1601 NE Milwaukee Avenue in Aberdeen, South Dakota, within Brown County and ZIP Code 57401. The site provides a combination of substantial building area and acreage that distinguishes it from smaller commercial properties. Showings require a minimum of 24 hours' advance notice.

Key Highlights

• 11,460‑square‑foot mixed‑use building
• 5.9‑acre property in Aberdeen, SD
• Constructed in 1994

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$89,818

Cap Rate

5.99%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,796,360 $1.8M

Cap Rate 7%

$1,283,114 $1.3M

Cap Rate 9%

$997,978 $998.0K

Market Conditions

NOI Build-Up for 11,460 SF

Gross rent

$151.3K $13.20/SF

− Vacancy

−$7.6K −$0.66/SF

EGI

$143.7K $12.54/SF

− OpEx

−$53.9K −$4.70/SF

NOI

$89.8K $7.84/SF

Area

Brown County, SD

Vacancy

5.00%

Lease Rate

$13.20 /SF/Yr

Expense Ratio

37.50%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,796,360

Cap Rate 7%

$1,283,114

Cap Rate 9%

$997,978

Alternative Uses

Best Use

Mixed Use

$1.28M

$1.12M – $1.50M (±1% cap)

NOI $89,818 @ 7.0% cap · market cap 5.99%

Second Best

—

—

no second resolved use

Theoretical Best

Healthcare Medical

$2.00M

$1.75M – $2.33M (±1% cap)

NOI $140,064 @ 7.0% cap · market cap 9.34%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

(LSS) Lutheran Social ... Social Service Agency

Suggested Use

Top Pick Real Estate Agency Restaurant Law Firm Building Supply Big Box & Wholesale Store Auto Parts Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

435

Businesses Nearby

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

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties What are key features of this property?

Similar For Sale Nearby

Mid-Rise Apartment Building with Commercial Units

108 South Lincoln Street, Aberdeen, SD 57401

$1,892,094

19,500 SF

View details

Mixed-Use Building with Parking

24 N Main Street, Aberdeen, SD 57401

$279,000

6,190 SF

View details

Mixed-Use Building with Apartment

1023 S MAIN Street, Aberdeen, SD 57401

$295,000

3,504 SF

View details

Tenant-Occupied Mixed-Use Property

1124 S Washington St, Aberdeen, SD 57401

$210,000

2,163 SF

View details

Downtown Mixed-Use Property

224 S Main Street, Aberdeen, SD 57401

Contact for pricing

3,320 SF

View details

Warehouse with Cold Storage

5405 E Highway 12, Aberdeen, SD 57401

$1,299,000

12,000 SF

View details

New Flex Facility with Shop Space

617 N Production Street, Aberdeen, SD 57401

$1,850,000

11,200 SF

View details

Two-Building Flex Industrial Property

2821 8th Ave, Aberdeen, SD 57401

$960,000

10,700 SF

View details

Warehouse with Truck Access

715 S State Street, Aberdeen, SD 57401

$979,000

10,060 SF

View details

Leased Office Building

1707 4th Avenue, Aberdeen, SD 57401

$1,100,000

6,480 SF

View details

Historic Storefront Property with New Roof

108 & 112 S Main St, Aberdeen, SD 57401

$565,000

16,972 SF

View details

Updated Downtown Retail Building

120 S Main St, Aberdeen, SD 57401

$1,700,000

32,850 SF

View details

Frequently Asked Questions

What type of property is this?

Mixed-use property - Flexible commercial building offering substantial interior space and a multi-use configuration on an expansive site.

Where is this mixed-use property located?

The property is located at 1601 NE Milwaukee Avenue Aberdeen, SD.

What is the asking price?

The asking price for this property is $1,500,000.

What are key features of this property?

This property features: 11,460‑square‑foot mixed‑use building; 5.9‑acre property in Aberdeen, SD; Constructed in 1994