Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    402 Montrose St S Aberdeen, SD

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $428,628

    Commercial land with highway access and favorable zoning.

    Type:LAND
    Lot size:
    1.64 Acres
    Added:
    Sep 5, 2025
    Days on Market:
    208
    Last Refresh:
    Mar 29 at 9:54 pm

    Property Features for 402 Montrose St S

    General Information

    Standard status
    Active
    Lot size
    1.64 Acres
    Property subtype
    LAND

    We can help!

    Listing Contact
    Scott Blount

    Listing agent Scott Blount

    Listing office Lloyd Companies - Corporate

    Listing date Sep 5, 2025

    Source Moodyscre

    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

    Overview

    Commercial Land Near Highway 12

    This commercial land benefits from a full access point from Highway 12/6th Ave and is zoned C-2. Real estate taxes are $5,458, based on the 2024 assessment payable in 2025. The location experiences traffic counts of 22,296 vehicles per day along 6th Ave SE. Demographics indicate a supportive environment with a daytime population of 6,423 and 1,890 housing units within a 1-mile radius. The property is surrounded by major retailers, including Walmart, Target, Menards, Hobby Lobby, and Runnings, and is directly adjacent to several national hotels, such as the Quality Inn and Fairfield Inn & Suites. It is also near Northern State University, which has a student population of 3,708 for the 2024-2025 academic year.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Aberdeen
    County
    Brown
    State
    South Dakota
    Longitude
    -98.4865
    Latitude
    45.4647

    Nearby Similar for Sale

    • $314,900
      6,190 SF

      Versatile Commercial Building on Main

      6,190 SF commercial building with high visibility and parking.
      24 N Main Street, Aberdeen, SD 57401
      View Details
    • $1,490,000
      12,000 SF

      Aberdeen Retail/Warehouse/Shop Building For Sale

      Newer-built retail/warehouse/shop building with radiant in-floor heat.
      5405 E Highway 12, Aberdeen, SD 57401
      View Details
    • $1,000,000
      16,401 SF

      Furnished Office Building in Aberdeen

      Well-maintained, fully furnished office building in Aberdeen's downtown business core.
      115 SW 1st Avenue, Aberdeen, SD 57401
      View Details
    • $515,000
      27,220 SF

      Aberdeen Flex-Use Industrial Space

      Large industrial space with offices, loading docks, and overhead doors.
      1 S 3rd Street, Aberdeen, SD 57401
      View Details
    • $315,000
      3,504 SF

      South Main Street Commercial Building

      Mixed-use building with retail space and income-producing apartment.
      1023 S MAIN Street, Aberdeen, SD 57401
      View Details
    • $389,000
      4,970 SF

      Downtown Aberdeen Office Building

      Professional office building in downtown Aberdeen with leasing options.
      208 S Main Street, Aberdeen, SD 57401
      View Details
    • $461,500
      4,000 SF

      Aberdeen Office Building For Sale

      4,000 SF office building with high-traffic frontage in Aberdeen.
      9 N Dakota Street, Aberdeen, SD
      View Details
    • $3,400
      2,550 SF

      Office Space in Aberdeen, SD

      Office space for lease with utilities included and large parking.
      2816 Milwaukee Avenue, Aberdeen, SD 57401
      View Details
    • $259,000
      5,700 SF

      Main Street Retail Opportunity

      Versatile retail property on Main Street in Aberdeen, South Dakota.
      220 N Main Street, Aberdeen, SD 57401
      View Details
    • $979,000
      10,060 SF

      Aberdeen Commercial Shop with Parking

      Well-maintained 10,000 SF commercial shop with easy highway access.
      715 S State Street, Aberdeen, SD 57401
      View Details
    • $314,900

      Aberdeen Multi-Family Investment Opportunity

      Turnkey 5-unit multi-family building in high-demand rental market.
      1423 S 1st Street, Aberdeen, SD 57401
      View Details
    • $375,000
      5,579 SF

      Downtown Aberdeen Commercial Building For Sale

      Former American Legion Club in downtown Aberdeen business core.
      421 S Lincoln Street, Aberdeen, SD 57401
      View Details

    FAQs

    What type of property is this?
    Commercial land - Commercial land with highway access and favorable zoning.
    Where is this commercial land located?
    The property is located at 402 Montrose St S Aberdeen, SD.
    What is the asking price?
    The asking price for this property is $428,628.
    What are key features of this property?
    This property features: Full access point from Highway 12/6th Ave; High traffic counts of 22,296 VPD along 6th Ave SE; Zoned: C‑2
    (605) 323-2820
    We can help!
    Listing Contact
    Scott Blount
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!