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    Flex Shop Space with Overhead Doors Title is generated by Realmo AI

    421 392 Ave S, Aberdeen, SD

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    COMMERCIAL - Aberdeen, SD

    Property size:
    1,800 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
    1,800 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# 26-40

    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

    • New shop space under construction, built in 2025
    • 60 x 30 shop with 16 ft overhead doors
    • Includes an office and a bathroom
    • Rent is $1 per SF; owner pays electric and water and tenants pay gas for heat
    • Room to turn around large equipment

    Overview

    This brand-new flex shop offers a clear-span layout sized 60 by 30 feet, designed to accommodate equipment and loading needs. The unit includes an office and a bathroom, and features 16-foot overhead doors for convenient access. The property also includes additional larger shop options with office space available, supporting a range of workspace requirements. Ample turning room is available for larger equipment as needed.

    The property is located east of town at 421 392 Ave S in Aberdeen, South Dakota. It is presented as a set of ready-to-go shop spaces, including the featured unit and other comparable options.

    For operators considering a straightforward shop-and-office setup, this configuration provides dedicated working space plus customer or admin area within the same footprint. The current operating terms described in the remarks include owner payment of electricity and water, while tenants pay gas for heat. Leasing information provided indicates rentals are currently at $1 per square foot across the available units, with multiple larger spaces offered for tenants seeking additional capacity.
    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

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    FAQs

    What type of property is this?
    Flex space - Brand-new shop space with office, bathroom, and 16-foot overhead doors for equipment-friendly operations.
    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: New shop space under construction, built in 2025; 60 x 30 shop with 16 ft overhead doors; Includes an office and a bathroom
    (605) 225-7179
    We can help!
    Listing Contact
    Melanie R Bobby
    Real Estate License ID: 14771
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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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