Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Versatile Flex Space Available Title is generated by Realmo AI

    27116 Grummand Ave, Tea, SD 57064

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

    Flex space with easy access to I-29.

    Type:Office, Industrial
    Added:
    Sep 23, 2025
    Days on Market:
    232
    Last Refresh:
    Mar 17 at 1:17 pm

    Property Features for 27116 Grummand Ave

    General Information

    Standard status
    Active
    Property subtype
    Office, Industrial

    Spaces For Lease

    at 27116 Grummand Ave Contact us

    27116 Grummand Avenue $8 /Mo

    Size
    9,050 SF
    Type
    Industrial
    Lease Rate $6,500.00 Per Month Gross + UtilitiesnIndustrial warehouse for lease 8,296...
    show more
    Contact us

    We can help!

    Listing Contact
    Brody Etrheim
    Brody Etrheim

    Listing agent Brody Etrheim License #SD 20218

    Listing office NAI Sioux Falls

    Listing date Sep 23, 2025

    Source Crexi

    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 NAI Sioux Falls

    HighLights

    • Easy access to I‑29
    • Proximity to Tea Exit
    • Near Lincoln County Airport
    • Close to Starbucks
    • Neighboring Casey's
    • Adjacent to Weller Brother's Landscape Professionals

    Overview

    This property offers versatile flex space suitable for a range of commercial real estate purposes, including office units, industrial activities, and warehouse operations. The location provides convenient access to I-29 via the Tea exit. Nearby neighbors include Casey's, Marv Skie - Lincoln County Airport, Weller Brother's Landscape Professionals, Starbucks, and Glass Doctor.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Auto Loan Acceptance ... Loan Service SBI West Industrial Manufacturer

    Suggested Use

    Restaurant Real Estate Agency Skin Care Clinic Food Market Grocery & Convenience Store HVAC Service Grocery & Convenience Store Car Rental Facility Furniture & Home Goods Bar & Pub

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

    Location Insight

    • Map
    • Local Demand
    City
    Tea
    County
    Lincoln
    State
    South Dakota
    Longitude
    -96.8046241
    Latitude
    43.4587422

    Nearby Similar for Lease

    • Contact for pricing

      New Industrial/Flex Space For Lease

      New construction industrial/flex building with fenced outdoor storage. Occupancy 2026.
      2017 Industrial Street, East Building, Tea, SD 57064
      View Details
    • Contact for pricing

      New Construction Industrial/Flex Space

      New construction industrial/flex building with fenced outdoor storage. Occupancy 2026.
      2017 Industrial Street, East Building, Tea, SD 57064
      View Details
    • $9 SF/Yr

      4,000 SF Shop For Rent

      4,000 SF shop space available for immediate occupancy.
      2000 Manville St, Tea, SD
      View Details
    • $9 SF/Yr

      Efficient Shop Space For Lease

      Clean shop space with overhead doors and on-site parking.
      47001 Mona St, Suite 3, Tea, SD 57064
      View Details
    • $6,500/Mo

      Industrial Warehouse with Office Space

      Industrial warehouse for lease featuring office space and outdoor storage.
      27116 Grummand Avenue, Tea, SD 57064
      View Details
    • $9 SF/Yr

      Efficient Shop Space For Lease

      Clean, flexible shop space with overhead doors and parking.
      47001 Mona St, Tea, SD
      View Details
    • $9 SF/Yr

      Efficient Shop Space For Lease

      Clean, flexible shop space with overhead doors and parking.
      47001 Mona St, Suite 3, Tea, SD 57064
      View Details
    • $16 SF/Yr

      Office Suites Available For Lease

      Multiple office suites available for lease in Tea, South Dakota.
      1500 N Main Avenue, Tea, SD 57064
      View Details
    • Contact for pricing

      4,000 SF Shop For Rent

      4,000 SF shop space available for immediate occupancy.
      2000 East Manville Street, Tea, SD 57064
      View Details
    • $11 SF/Yr

      Retail Space Near One Stop

      Retail space with shared parking and high visibility.
      101 W 1st St, Tea, SD
      View Details
    • $7 SF/Yr

      4,000 SF Shop For Rent

      4,000 SF shop with 3-phase power and office.
      2000 East Manville Street, Tea, SD 57064
      View Details
    • $7 SF/Yr

      Industrial Space Near Tea Ellis

      Industrial space with overhead door and highway access for lease.
      46911 Cody Trl, Tea, SD
      View Details

    FAQs

    What type of property is this?
    Flex space - Flex space with easy access to I-29.
    Where is this flex space located?
    The property is located at 27116 Grummand Ave Tea, SD.
    What are key features of this property?
    This property features: Easy access to I‑29; Proximity to Tea Exit; Near Lincoln County Airport
    (605) 251-7625 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Brody Etrheim
    Brody Etrheim
    Real Estate License ID: SD 20218
    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
    27116 Grummand Ave, Tea, SD 57064
    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!