Flex Shop with Office
For Sale
Contact for pricing
26655 481st Ave, Brandon, SD 57005
Flex building offers dedicated office space plus a secured shop/warehouse area with overhead loading door.
Property Size2,836 SF
Price / SF$241.54
Days on Market377
Property Features for 26655 481st Ave
General Information
Standard status
Active
Size
2,836 SF
Property subtype
FLEX_R_AND_D
Additional Details
Sprinkler System
Yes
Amenities
Full Kitchen
Lounge/Collaboration Area
Private office with a glass-wall
Large windows
Epoxy Flooring
Full Bathroom with Shower
Dedicated Data Room
Monitored security system
In-floor radiant zoned heating
Forced air furnace backup with Nest control
LED lighting with Lightcloud Touch controls
Fiber option available via Alliance
Listing Agency:
Lloyd Companies - Corporate
(605) 323-2820
Listed By:
Wayne Huber · License #SD:18136-BA
(605) 261-5566
Source:
Moodyscre
Added: Sep 4, 2025
Changed: Sep 13
Last Checked: Sep 15 at 10:37AM
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 Lloyd Companies - Corporate
Investment Insights
Based on property information with market context.
This 2,836 SF flex building features a balanced layout with 1,560 SF of office space and 1,276 SF of flex/shop/warehouse space. The office portion includes 12' ceilings, a full kitchen, lounge/collaboration area, a private glass-walled office, and large windows. The shop/warehouse portion provides 16' ceilings, epoxy flooring, and a full bathroom with shower, along with a dedicated data room. Loading and storage flexibility is supported by a 12' x 12' overhead door.
Additional building systems include a full sprinkler system, a monitored security system, fiber option availability via Alliance, LED lighting with Lightcloud Touch controls, in-floor radiant zoned heating, and a forced air furnace backup controlled with Nest. Parking access is planned via a developer-provided access road with a pro-rata share cost to the buyer; the estimate is TBD.
The property is located at 26655 481st Ave, Brandon, SD 57005, and RE taxes are listed as $3,535.16 (2025 taxes payable in 2026).
Additional building systems include a full sprinkler system, a monitored security system, fiber option availability via Alliance, LED lighting with Lightcloud Touch controls, in-floor radiant zoned heating, and a forced air furnace backup controlled with Nest. Parking access is planned via a developer-provided access road with a pro-rata share cost to the buyer; the estimate is TBD.
The property is located at 26655 481st Ave, Brandon, SD 57005, and RE taxes are listed as $3,535.16 (2025 taxes payable in 2026).
Key Highlights
- 2,836 SF +/- flex building with balanced office and flex/shop/warehouse space
- Office includes 1,560 SF with 12' ceilings, lounge/collaboration area, large windows, and a private glass‑wall office
- Flex/shop/warehouse includes 1,276 SF with 16' ceilings, epoxy flooring, full bathroom with shower, and a dedicated data room
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
$24,928
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
3.64%
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%
$498,560
$498.6K
Cap Rate 7%
$356,114
$356.1K
Cap Rate 9%
$276,978
$277.0K
Market Conditions
NOI Build-Up for 2,836 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
$30.6K $10.80/SF
− Vacancy
−$1.3K −$0.46/SF
EGI
$29.3K $10.34/SF
− OpEx
−$4.4K −$1.55/SF
NOI
$24.9K $8.79/SF
Area
Minnehaha County, SD
Vacancy
4.25%
Lease Rate
$10.80 /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%
$498,560
Cap Rate 7%
$356,114
Cap Rate 9%
$276,978
Alternative Uses
Best Use
Warehouse
$356.1K
$311.6K – $415.5K
NOI $24,928 @ 7.0% cap · market cap 3.64%
Second Best
Industrial
$277.0K
$242.4K – $323.1K
NOI $19,388 @ 7.0% cap · market cap 2.83%
Theoretical Best
Office A
$764.5K
$668.9K – $891.9K
NOI $53,515 @ 7.0% cap · market cap 7.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
8
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 57005, SD
12,619
Population
4,693
Households
2.7
Avg Household Size
36
Median Age
41%
College-Educated
97%
High-School Grad
48.9 sq mi
ZIP Area
258
Density / Sq Mi
$108,689
Median Household Income
$53,429
Median Earnings
$985
Median Rent
$322,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Flex space - Flex building offers dedicated office space plus a secured shop/warehouse area with overhead loading door.
Where is this flex space located?
The property is located at 26655 481st Ave Brandon, SD.
What is the asking price?
The asking price for this property is $685,000.
What are key features of this property?
This property features: 2,836 SF +/- flex building with balanced office and flex/shop/warehouse space; Office includes 1,560 SF with 12' ceilings, lounge/collaboration area, large windows, and a private glass‑wall office; Flex/shop/warehouse includes 1,276 SF with 16' ceilings, epoxy flooring, full bathroom with shower, and a dedicated data room
