Self Storage Unit with Overhead
For Sale
$200,000
2600 N Ginger Ave, Tea, SD 57064
COMMERCIAL - Tea, SD
Property Size1,484 SF
Lot Size0.03 Acres
Price / SF$134.77
Days on Market93
Property Features for 2600 N Ginger Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Property condition
Under Construction
Zoning
PD (Planned Development)
Security features
Security Lighting
Subdivision
Trevan Addition to the City of Tea
Directions
From corner of 271st St & 469th Ave, 1/2 mile north to Madison St, east to Ginger Ave, 1 blk south.
Standard status
Active
Lot size
0.03 Acres
Taxes and HOA fees
Tax Annual Amount
1
Utilities
Utilities
Water Available
Building Details
Year built
2026
Floors in Building
1
Flooring type
Concrete
Building materials
Frame
Roof type
Metal
Listing Agency:
Better Homes and Gardens Real Estate Beyond
(605) 275-4663
Listed By:
Brian Smit · License #17373
(605) 413-7522
Added: May 19
Changed: Aug 19
Last Checked: Aug 19 at 7:06PM
MLS# 22603731
Copyright © 2026 Realtor Association of the Sioux Empire MLS. 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.
Under-construction storage condo opportunity in Tea, SD, built as a frame structure with concrete flooring and a metal roof. The unit measures 28' x 53' and includes a 16' x 14' overhead door for drive-up access. Plumbing is stubbed in for a future buildout, and access to city water and sewer is available within Tea city limits.
Zoned PD (Planned Development), the property sits on a 0.0341-acre lot at 2600 N Ginger Ave. The location is just blocks from Tea’s newest residential developments and offers convenient access to I-29 via the Tea Exit (Exit 73), with the site less than a half mile north of 271st Street.
Estimated completion/occupancy is September 2026, offering a storage unit that can be customized to buyer specifications.
Zoned PD (Planned Development), the property sits on a 0.0341-acre lot at 2600 N Ginger Ave. The location is just blocks from Tea’s newest residential developments and offers convenient access to I-29 via the Tea Exit (Exit 73), with the site less than a half mile north of 271st Street.
Estimated completion/occupancy is September 2026, offering a storage unit that can be customized to buyer specifications.
Key Highlights
- 28' x 53' storage condo unit under construction
- 16' x 14' overhead door for secure drive‑up access
- Plumbing stubbed in for future buildout
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$10,217
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.11%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$204,340
$204.3K
Cap Rate 7%
$145,957
$146.0K
Cap Rate 9%
$113,522
$113.5K
Market Conditions
NOI Build-Up for 1,484 SF
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.
Gross rent
$13.4K $9.00/SF
− Vacancy
−$1.3K −$0.90/SF
EGI
$12.0K $8.10/SF
− OpEx
−$1.8K −$1.21/SF
NOI
$10.2K $6.89/SF
Area
Lincoln County, SD
Vacancy
10.00%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$204,340
Cap Rate 7%
$145,957
Cap Rate 9%
$113,522
Alternative Uses
Best Use
Warehouse
$146.0K
$127.7K – $170.3K
NOI $10,217 @ 7.0% cap · market cap 5.11%
Second Best
Self Storage
$136.0K
$119.0K – $158.7K
NOI $9,519 @ 7.0% cap · market cap 4.76%
Theoretical Best
Office A
$329.4K
$288.3K – $384.4K
NOI $23,061 @ 7.0% cap · market cap 11.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
159
Businesses Nearby
Explore this area
Business Placement
Demographics for 57064, SD
6,908
Population
2,652
Households
2.6
Avg Household Size
31
Median Age
39%
College-Educated
98%
High-School Grad
25.6 sq mi
ZIP Area
270
Density / Sq Mi
$104,351
Median Household Income
$54,400
Median Earnings
$1,132
Median Rent
$330,800
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self storage facility - Under-construction storage condo unit in a planned development, with a city water connection and an overhead door for secure access.
Where is this self storage facility located?
The property is located at 2600 N Ginger Ave Tea, SD.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: 28' x 53' storage condo unit under construction; 16' x 14' overhead door for secure drive‑up access; Plumbing stubbed in for future buildout
