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    Downtown Storefront Retail Space Title is generated by Realmo AI

    309 S Main Street, Aberdeen, SD 57401

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    COMMERCIAL - Aberdeen, SD

    Property size:
    3,438 SF
    Price / SF:
    $0.00/SF
    Added:
    Aug 27, 2025
    Days on Market:
    283
    Last Refresh:
    Jun 5 at 1:06 am

    Property Features for 309 S Main Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Size
    3,438 SF

    Taxes and HOA fees

    Tax Annual Amount
    3144

    Building Details

    Year built
    1888

    We can help!

    Listing Contact
    Robin (Rob) K Johnson
    Robin (Rob) K Johnson

    Listing agent Robin (Rob) K Johnson License #15391

    Listing office Dakota Plains Real Estate & Development 10 Railroad Ave SW Suite 209 PO Box 737, Aberdeen, SD

    Listing date Aug 27, 2025

    MLS# 25-624

    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

    • Prime Central Business Core location on Main Street.
    • Opportunity to capitalize on Aberdeen's downtown renaissance.
    • Potential for $90,000 in Tenant Improvements with a five‑year lease.
    • 3,438 sq ft of raw space allows for customization.
    • Attractive lease rate of $10 psf NNN.
    • Many upgrade improvements already in place.

    Overview

    This downtown storefront offering is listed as raw space, providing a flexible base for a retailer or service user to finish to suit. The property totals 3,438 square feet and is presented for sale with a three-year minimum lease requirement. Public remarks indicate many upgrade improvements are already in place, and the leasing framework references potential for additional tenant improvements, with up to $90,000 in tenant improvements discussed for a five-year lease scenario.

    The asset is located on S Main Street in Aberdeen, South Dakota, within the central business core. The listing notes that the downtown area is undergoing redevelopment and “transformational” changes, and the property is positioned as a Main Street location. Access and showings are limited to business hours only, weekdays, with four hours’ notice requested.

    For tenants, this configuration can be workable when you want to start from a raw retail shell while leveraging existing upgrades. For investors or owner-operators, the offering is structured around a minimum lease term and includes a tenant-improvement pathway referenced in the marketing materials, which may be relevant when planning buildout timing and scope.
    Property Profile Location Intelligence

    Current Use by Public Records

    Midwest Lodging Interior Design

    Suggested Use

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

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

    Similar Places Nearby

    • Rustic Roots Florals — 224 1st Ave SE #2, Aberdeen, SD 57401
    • Annette's Floral Boutique — 122 N Main St, Aberdeen, SD 57401

    Location Insight

    • Map
    • Local Demand
    City
    Aberdeen
    County
    Brown
    State
    South Dakota
    Longitude
    -98.48765
    Latitude
    45.461701

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    FAQs

    What type of property is this?
    Storefront property - Ground-level retail shell with upgrade improvements and room for additional tenant improvements under a long-term lease.
    Where is this storefront property located?
    The property is located at 309 S Main Street Aberdeen, SD.
    What is the asking price?
    The asking price for this property is Off market.
    What are key features of this property?
    This property features: Prime Central Business Core location on Main Street.; Opportunity to capitalize on Aberdeen's downtown renaissance.; Potential for $90,000 in Tenant Improvements with a five‑year lease.
    (605) 225-1800
    We can help!
    Listing Contact
    Robin (Rob) K Johnson
    Robin (Rob) K Johnson
    Real Estate License ID: 15391
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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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