Multi-Tenant Storefront
For Sale
$429,000
423 Moccasin Drive, Aberdeen, SD 57401
COMMERCIAL - Aberdeen, SD
Property Size3,024 SF
Price / SF$141.87
Days on Market24
Property Features for 423 Moccasin Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
Aberdeen - City
Standard status
Active
Size
3,024 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
LT 4 MOCCASIN PLAZA ADD (L26 PIERSONS)
Tax Annual Amount
3135
Legal Description
LT 4 MOCCASIN PLAZA ADD (L26 PIERSONS)
Building Details
Year built
1989
Listing Agency:
Dakota Plains Real Estate & Development
(605) 225-1800
Listed By:
Robin (Rob) K Johnson · License #15391
(605) 225-1800
Added: Jul 28
Last Checked: Aug 20 at 1:06AM
MLS# 26-513
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.
This multi-tenant storefront property contains 3,024 square feet of commercial space and was built in 1989. The building is supported by paved parking located on the property, adding practical convenience for occupants and visitors.
The property is located at 423 Moccasin Drive in Aberdeen, South Dakota, with East US Highway 12 nearby. Its storefront configuration and multi-tenant layout provide a commercial setting for the existing property classification.
The property is located at 423 Moccasin Drive in Aberdeen, South Dakota, with East US Highway 12 nearby. Its storefront configuration and multi-tenant layout provide a commercial setting for the existing property classification.
Key Highlights
- 3,024‑square‑foot multi‑tenant commercial building
- Built in 1989
- Paved parking is available on the property
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
$23,342
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
5.44%
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%
$466,840
$466.8K
Cap Rate 7%
$333,457
$333.5K
Cap Rate 9%
$259,356
$259.4K
Market Conditions
NOI Build-Up for 3,024 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
$36.3K $12.00/SF
− Vacancy
−$2.9K −$0.97/SF
EGI
$33.3K $11.03/SF
− OpEx
−$10.0K −$3.31/SF
NOI
$23.3K $7.72/SF
Area
Brown County, SD
Vacancy
8.11%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
30.00%
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%
$466,840
Cap Rate 7%
$333,457
Cap Rate 9%
$259,356
Alternative Uses
Best Use
Retail
$333.5K
$291.8K – $389.0K
NOI $23,342 @ 7.0% cap · market cap 5.44%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$528.0K
$462.0K – $616.0K
NOI $36,959 @ 7.0% cap · market cap 8.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
441
Businesses Nearby
188k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 47%
Shops & Services 33%
Apparel 17%
Home Improvements & Furnishings 3%
Runnings
Apparel
31,800 visits/mo
0.1 miles
McDonald's
Dining
28,207 visits/mo
0.1 miles
Hobby Lobby
Shops & Services
20,334 visits/mo
0.5 miles
Taco John's
Dining
15,941 visits/mo
0.3 miles
Wendy's
Dining
13,807 visits/mo
0.1 miles
Demographics for 57401, SD
32,275
Population
15,016
Households
2.1
Avg Household Size
37
Median Age
35%
College-Educated
93%
High-School Grad
278.8 sq mi
ZIP Area
116
Density / Sq Mi
$68,183
Median Household Income
$40,562
Median Earnings
$787
Median Rent
$216,300
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Commercial building with paved on-site parking near East US Highway 12.
Where is this storefront property located?
The property is located at 423 Moccasin Drive Aberdeen, SD.
What is the asking price?
The asking price for this property is $429,000.
What are key features of this property?
This property features: 3,024‑square‑foot multi‑tenant commercial building; Built in 1989; Paved parking is available on the property
