Building Details

Year built 1999

Listing Agency: Dakota Plains Real Estate & Development r***@dakota-plains.com Show Phone

Listed By: Robin (Rob) K Johnson · License #15391 Show Phone

Added: Aug 19 Last Checked: Aug 20 at 1:06AM

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MLS# 26-536

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.

Investment Insights

Based on property information with market context.

The property includes a 15,360-square-foot steel-framed industrial building constructed in 1999 on 6.5 acres. The flexible 80-by-190-foot layout contains seven overhead doors, floor heat, ventilation, and an overhead crane, along with reception, parts, showroom, office, meeting, and lunchroom areas. The offering also includes an operating manufacturing, welding, repair, steel and aluminum sales, and trailer sales and service business established over 60 years ago.

Located along E US Highway 12 at Bath Corner, the site is 6 miles east of Aberdeen, SD. The commercially zoned property features a well-graveled and lighted display lot, documented drainage improvements, and room for expansion. The address is 39505 133rd Street, Bath, SD 57427.

Key Highlights

• 15,360‑square‑foot industrial building on 6.5 acres
• 80‑by‑190‑foot steel‑framed building constructed in 1999
• Seven overhead doors, floor heat, ventilation, and overhead crane

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

$118,610

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

3.22%

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%

$2,372,200 $2.4M

Cap Rate 7%

$1,694,429 $1.7M

Cap Rate 9%

$1,317,889 $1.3M

Market Conditions

NOI Build-Up for 15,360 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

$202.8K $13.20/SF

− Vacancy

−$20.3K −$1.32/SF

EGI

$182.5K $11.88/SF

− OpEx

−$63.9K −$4.16/SF

NOI

$118.6K $7.72/SF

Area

Brown County, SD

Vacancy

10.00%

Lease Rate

$13.20 /SF/Yr

Expense Ratio

35.00%

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%

$2,372,200

Cap Rate 7%

$1,694,429

Cap Rate 9%

$1,317,889

Alternative Uses

Best Use

Flex RnD

$1.69M

$1.48M – $1.98M (±1% cap)

NOI $118,610 @ 7.0% cap · market cap 3.22%

Second Best

Warehouse

$604.3K

$528.8K – $705.0K (±1% cap)

NOI $42,301 @ 7.0% cap · market cap 1.15%

Theoretical Best

Healthcare Medical

$2.68M

$2.35M – $3.13M (±1% cap)

NOI $187,730 @ 7.0% cap · market cap 5.09%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Specialty Trailer Car Dealership

Suggested Use

Top Pick Auto Parts Store Storage Facility Butcher Auto Repair Shop Grocery & Convenience Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Turnkey business

Opportunity

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

11

Businesses Nearby

Explore this area Business Placement

Demographics for 57427, SD

610

Population

248

Households

2.5

Avg Household Size

43

Median Age

19%

College-Educated

89%

High-School Grad

61.2 sq mi

ZIP Area

10

Density / Sq Mi

$82,308

Median Household Income

$50,750

Median Earnings

$384,100

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Manufacturing property - Flexible industrial facility supports fabrication, repair, and trailer sales and service operations.

Where is this manufacturing property located?

The property is located at 39505 133rd Street Bath, SD.

What is the asking price?

The asking price for this property is $3,685,000.

What are key features of this property?

This property features: 15,360‑square‑foot industrial building on 6.5 acres; 80‑by‑190‑foot steel‑framed building constructed in 1999; Seven overhead doors, floor heat, ventilation, and overhead crane