Fenced Warehouse with Heated
412 South Pine Street, Lennox, SD 57039
For Sale
$850,000
Warehouse facility with offices, employee areas, storage, and a secured outdoor yard.
Property Size8,000 SF
Lot Size12.00 Acres
Price / SF$106.25
Days on Market57
Property Features for 412 South Pine Street
General Information
Standard status
Size
Lot size
Property subtype
Site & Location
Fenced Yard
Outdoor Storage
Warehouse & Industrial
Clear Height
Warehouse Space
Three-Phase Power
Amenities
breakroom
secure gate and cameras
Building Details
Building Size
Year Built
Listing Agency:
NAI Sioux Falls
Listed By:
Marcus Mahlen, CCIM, SIOR
(605) 228-9744
Source:
Naiglobal
Added: Sep 18
Last Checked: Nov 12 at 4:52AM
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
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Investment Insights
Based on property information with market context.
Built in 1978, this warehouse property provides 8,000 SF of building area across 12 acres. Approximately 3,000 SF is heated and insulated, while the remaining 5,000 SF is unheated. The building includes two offices, a breakroom, two bathrooms, a mezzanine, and substantial storage. Additional features include 16' sidewalls, a floor drain, gas furnace, and single phase electric service. The property previously operated as a bus garage.
Outdoor improvements include a fenced area of over 1.5 AC, a secure gate, and cameras. Located at 412 South Pine Street in Lennox, SD, the property combines warehouse space with secured exterior area and on-site support rooms.
Outdoor improvements include a fenced area of over 1.5 AC, a secure gate, and cameras. Located at 412 South Pine Street in Lennox, SD, the property combines warehouse space with secured exterior area and on-site support rooms.
Key Highlights
- 8,000 SF warehouse situated on 12 acres
- 3,000 SF heated and insulated; 5,000 SF unheated
- Fenced outdoor area of over 1.5 AC with secure gate and cameras
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$55,080
Cap Rate
6.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,101,600
$1.1M
Cap Rate 7%
$786,857
$786.9K
Cap Rate 9%
$612,000
$612.0K
Market Conditions
NOI Build-Up for 8,000 SF
Gross rent
$72.0K $9.00/SF
− Vacancy
−$7.2K −$0.90/SF
EGI
$64.8K $8.10/SF
− OpEx
−$9.7K −$1.21/SF
NOI
$55.1K $6.89/SF
Area
Lincoln County, SD
Vacancy
10.00%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,101,600
Cap Rate 7%
$786,857
Cap Rate 9%
$612,000
Alternative Uses
Best Use
Warehouse
$786.9K
$688.5K – $918.0K
NOI $55,080 @ 7.0% cap · market cap 6.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.78M
$1.55M – $2.07M
NOI $124,320 @ 7.0% cap · market cap 14.63%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Current Use
Lease Details
16 ft
Clear height
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
173
Businesses Nearby
Well-served
Demand for This Use
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Business Placement
Demographics for 57039, SD
3,717
Population
1,554
Households
2.4
Avg Household Size
40
Median Age
23%
College-Educated
92%
High-School Grad
91.9 sq mi
ZIP Area
40
Density / Sq Mi
$79,209
Median Household Income
$46,947
Median Earnings
$925
Median Rent
$242,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Properties on Market for Warehouses in Lincoln County
Vacancy Rate% for Industrial in Midwest region
Similar Off Market Nearby
- Lennox RV and Boat Storage, LLC — 1300 S Main St, Lennox, SD 57039
- SunnySide Laundromat, Car Wash & Storage Units — 109 N Main St, Lennox, SD 57039
Frequently Asked Questions
What type of property is this?
Warehouse - Warehouse facility with offices, employee areas, storage, and a secured outdoor yard.
Where is this warehouse located?
The property is located at 412 South Pine Street Lennox, SD.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 8,000 SF warehouse situated on 12 acres; 3,000 SF heated and insulated; 5,000 SF unheated; Fenced outdoor area of over 1.5 AC with secure gate and cameras
