Historic Mixed-Use Building For
529 North Main Avenue Garretson, SD 57030
529 North Main Avenue, Garretson, SD, 57030
$429,000
For Sale
$429,000
Mixed-use building with apartments and commercial space in Garretson, SD.
Property Size4,800 SF
Price / SF$89.38
Days on Market176
Property Features for 529 North Main Avenue
General Information
- Standard status
- Active
- Size
- 4,800 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1908
Listing agency
NAI Sioux Falls
(605) 261-2777
Listed by
Michael Martin, CCIM · License #16008
(605) 261-2777
Source
Siouxfallscommercial
Added: Jan 27 Updated: Jul 6 at 10:14AM Checked: Jul 17 at 4:29AM
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
Investment Insights
Based on property information with market context.
This mixed-use building features a 4,800-square-foot main-floor space suitable for lease or owner occupancy. The residential component includes a mix of apartment units: one studio, two one-bedroom units, and three two-bedroom units. The property is listed on the National Register of Historic Places and has been recently tuck-pointed. It includes three on-site parking spaces and an allowance for roof replacement.
Key Highlights
- 4,800 SF main‑floor space available for lease or owner occupant
- On National Register of Historic Places
- Allowance for roof replacement included
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $72.6k | $15.12 |
| − Vacancy | −$7.4k | −$1.53 |
| EGI | $65.2k | $13.59 |
| − OpEx | −$29.3k | −$6.11 |
| NOI | $35.9k | $7.47 |
4,800 SF · lease $15.12/SF/yr · vacancy 10.14% · expense 45.00%
Alternative Uses
Best Use
Office B
$830.8K
$726.9K – $969.2K
NOI $58,154 @ 7.0% cap · market cap 13.56%
Second Best
Apartment 5plus
$512.4K
$448.4K – $597.8K
NOI $35,869 @ 7.0% cap · market cap 8.36%
Theoretical Best
Office A
$1.29M
$1.13M – $1.51M
NOI $90,575 @ 7.0% cap · market cap 21.11%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Office Units
Similar For Sale Nearby
FAQs
What type of property is this?
Multifamily property - Mixed-use building with apartments and commercial space in Garretson, SD.
Where is this multifamily property located?
The property is located at 529 North Main Avenue Garretson, 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: 4,800 SF main‑floor space available for lease or owner occupant; On National Register of Historic Places; Allowance for roof replacement included
