Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Brand New Shop Flex Unit Title is generated by Realmo AI

    421 392 Ave S, Aberdeen, SD

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    COMMERCIAL - Aberdeen, SD

    Property size:
    2,100 SF
    Price / SF:
    $1.00/SF
    Added:
    Jan 21, 2026
    Days on Market:
    135
    Last Refresh:
    Jun 5 at 1:06 am

    Property Features for 421 392 Ave S

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Property condition
    Under Construction
    Standard status
    Active
    Size
    2,100 SF

    Taxes and HOA fees

    Tax Description
    lease required

    Building Details

    Year built
    2025

    We can help!

    Listing Contact
    Melanie R Bobby

    Listing agent Melanie R Bobby License #14771

    Listing office Century 21 Northern Advantage 1708 8th AVE NE, Aberdeen, SD

    Listing date Jan 21, 2026

    MLS# 26-37

    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

    • Brand‑new shop space (under construction) with estimated completion in 2025
    • 60' x 35' shop with 16' overhead doors for loading and access
    • Includes an office and a bathroom
    • Couple similar units available with just a bathroom
    • Rental rate listed at $1 per SF; owner pays electric and water while tenants pay gas for heat
    • Large shop footprint provides room to turn around large equipment if needed

    Overview

    This brand new shop flex unit offers a 60 by 35 building footprint with 16-foot overhead doors for straightforward equipment access. The space includes an office and a bathroom, and the property also references a couple of smaller related options with bathroom-only accommodations. Turnaround space is available to support operations involving larger equipment, and the unit is described as ready to go.

    The property is located east of town at 421 392 Ave S in Aberdeen, South Dakota (Brown County). The remarks describe multiple shop configurations within the overall offering, providing flexibility for tenants or operators with different space needs.

    For tenants seeking a combined work area and support space, the included office and bathroom can streamline on-site administration and day-to-day operations. The leasing arrangement referenced in the remarks splits utilities, with the owner paying electric and water, while tenants pay gas for heat. Access is supported by the high-clearance overhead doors and the noted capacity to maneuver and turn around larger equipment on-site.
    Property Profile Location Intelligence

    Current Use by Public Records

    Inman Irrigation Landscaping

    Suggested Use

    Kitchen & Bath Showroom Building Supply Bar & Pub Furniture & Home Goods Hotel & Motel Veterinary Clinic Bed & Breakfast Pet Store & Service Auto Repair Shop Storage Facility

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

    Location Insight

    • Map
    • Local Demand
    City
    Aberdeen
    County
    Brown
    State
    South Dakota
    Longitude
    -98.390807
    Latitude
    45.459915

    Nearby Similar for Sale

    • $1,490,000
      12,000 SF

      Retail Warehouse with Heated Showroom

      A newer-built warehouse and showroom with radiant in-floor heat, multiple oversized doors, and a separate cold storage building.
      5405 E Highway 12, Aberdeen, SD 57401
      View Details
    • $661,500
      10,490 SF

      Flex & Warehouse Building with Offices

      Building 1 combines multiple office suites, reception, climate-controlled space, and cold storage plus a fenced yard by train tracks.
      11 N Dakota Street, Aberdeen, SD 57401
      View Details
    • $559,900
      6,670 SF

      Downtown Corner Retail Storefront

      Retail storefront with open layout on a stoplight corner, plus rebuilt west wall and a new roof.
      224 S Main Street, Aberdeen, SD 57401
      View Details
    • $255,000
      5,700 SF

      Main Street Retail Storefront Building

      Versatile storefront building on Main Street with maintained roof and heating system plus an attached basement area.
      220 N Main Street, Aberdeen, SD 57401
      View Details
    • $1,000,000
      16,401 SF

      Downtown Fully Furnished Office Building

      Well-maintained two-story office building with elevator, full kitchen, and extensive furnished workspace included.
      115 SW 1st Avenue, Aberdeen, SD 57401
      View Details
    • $1,699,900
      25,100 SF

      Event Center with Commercial Kitchen

      Multi-use entertainment venue with full liquor license, commercial kitchen, casino amenities, and a 10' overhead door for service access.
      316 S 2nd Street, Aberdeen, SD 57401
      View Details
    • $2,999,900
      6,000 SF

      Turn-Key Restaurant With Existing Lease

      Turn-key restaurant in a 2015 building with a lease already in place, offering an income-producing ownership structure.
      2411 SE 6th Avenue, Aberdeen, SD 57401
      View Details
    • $599,900
      4,322 SF

      Specialty Commercial Building

      Specialty commercial building for sale in Aberdeen, SD, with documented lease option potential noted in remarks.
      811 SE 3rd Avenue, Aberdeen, SD 57401
      View Details
    • $299,000
      6,190 SF

      Restaurant-Ready Commercial Building

      Flexible commercial building with vented roof, electrical wiring, and adjacent paved parking for customer access.
      24 N Main Street, Aberdeen, SD 57401
      View Details
    • $515,000
      27,220 SF

      Flex Warehouse with Offices

      Flex industrial property with heated and cold storage, office space, and multiple loading and overhead door entries.
      1 S 3rd Street, Aberdeen, SD 57401
      View Details
    • $979,000
      10,060 SF

      Commercial Shop with Multiple Drive Doors

      Well-maintained industrial shop with paved parking, insulated walls, and multiple large overhead doors for flexible operations.
      715 S State Street, Aberdeen, SD 57401
      View Details
    • $184,999
      688 SF

      Flexible Retail Shop with Direct Access

      Updated flex retail/shop space with main and garage areas and direct highway and city street access.
      1105 SW 6th Avenue, Aberdeen, SD 57401
      View Details

    FAQs

    What type of property is this?
    Flex space - New shop space with office, bathroom, and large overhead doors suited for light industrial or service use.
    Where is this flex space located?
    The property is located at 421 392 Ave S 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: Brand‑new shop space (under construction) with estimated completion in 2025; 60' x 35' shop with 16' overhead doors for loading and access; Includes an office and a bathroom
    (605) 225-7179
    We can help!
    Listing Contact
    Melanie R Bobby
    Real Estate License ID: 14771
    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
    421 392 Ave S, Aberdeen, SD
    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!