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    Restaurant-Ready Commercial Building Title is generated by Realmo AI

    24 N Main Street, Aberdeen, SD 57401

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    For Sale
    $299,000

    COMMERCIAL - Aberdeen, SD

    Property size:
    6,190 SF
    Price / SF:
    $48/SF
    Added:
    Apr 23, 2026
    Days on Market:
    42
    Last Refresh:
    Jun 3 at 9:06 pm

    Property Features for 24 N Main Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Size
    6,190 SF

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    Bricks Outlot 1 & W 106.5' Clinton Outlot A Subdivision Of MSTP & SSTM Outlot 1 SW 13-123-64
    Tax Annual Amount
    3225

    Building Details

    Year built
    1903

    We can help!

    Listing Contact
    Melanie R Bobby

    Listing agent Melanie R Bobby License #14771

    Listing office Century 21 Northern Advantage 1708 8th AVE NE, Aberdeen, SD

    Listing date Apr 23, 2026

    MLS# 26-101

    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.

    HighLights

    • High‑visibility location on well‑traveled North Main Street.
    • Approximately 6,190 sq ft building offering excellent exposure and flexibility.
    • Potential to be divided into multiple units for rental income or multi‑tenant use.
    • Equipped with electrical wiring, numerous outlets, and a vented roof ready for a commercial kitchen setup.
    • Private, paved surface parking adjacent for easy customer/employee access.
    • Previously housed a successful restaurant.

    Overview

    This is an approximately 6,190 square foot commercial building designed for flexibility. The property has been set up for restaurant use in the past, with electrical wiring, numerous outlets, and a vented roof that supports commercial kitchen concepts. The seller’s remarks note that it does not include a current working commercial hood or a fire suppression system.

    The building is located on well-traveled North Main Street in Aberdeen and is positioned for strong visibility. Private, paved surface parking is adjacent to the property, providing convenient access for customers and employees.

    For tenants, owners, or operators, the prior restaurant infrastructure can help reduce start-up work if you plan to build out a food-service program. The layout is also described as having potential to be divided into multiple units for multi-tenant use, which may appeal to businesses looking for flexible space configurations. Buyers should plan to address the missing hood and fire suppression components as part of any restaurant or kitchen-ready buildout.
    Property Profile Location Intelligence

    Current Use by Public Records

    Mangrove Montessori School High School

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Aberdeen
    County
    Brown
    State
    South Dakota
    Longitude
    -98.487652
    Latitude
    45.466453

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    FAQs

    What type of property is this?
    Office units - Flexible commercial building with vented roof, electrical wiring, and adjacent paved parking for customer access.
    Where is this office units located?
    The property is located at 24 N Main Street Aberdeen, SD.
    What is the asking price?
    The asking price for this property is $299,000.
    What are key features of this property?
    This property features: High‑visibility location on well‑traveled North Main Street.; Approximately 6,190 sq ft building offering excellent exposure and flexibility.; Potential to be divided into multiple units for rental income or multi‑tenant use.
    (605) 225-7179
    We can help!
    Listing Contact
    Melanie R Bobby
    Real Estate License ID: 14771
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    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.

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