Commercial Shop with Highway
For Sale
Contact for pricing
715 S State St, Aberdeen, SD 57401
Well-maintained shop with easy access and ample parking.
Property Size10,060 SF
Price / SF$97.32
Days on Market205
Property Features for 715 S State St
General Information
Standard status
Active
Size
10,060 SF
Property subtype
Industrial
Building Details
Year Built
1969
Buildings
1
Units
1
Listing Agency:
Dakota Plains Commercial Real Estate and Development
(605) 225-1800
Listed By:
Robin Johnson · License #SD 15391
Source:
Crexi
Added: Jan 28
Changed: Aug 8
Last Checked: Aug 21 at 4:47AM
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 Dakota Plains Commercial Real Estate and Development
Investment Insights
Based on property information with market context.
This well-maintained commercial shop is located just off the high-traffic corner of US Highway 12 and South State Street. The property features easy access and considerable paved surface parking. It includes sections measuring 120 feet by 50 feet and 60 feet by 70 feet. The shop has 16-foot walls and doors measuring 12 feet and 14 feet. Additional features include an air exchange system, infrared ceiling heat, natural gas, and spray foam insulation. Exterior electrical plug-ins are available for trucks. The property size is 10,060 square feet.
Key Highlights
- High‑traffic location at the corner of US Highway 12 & South State Street
- Considerable paved surface parking
- Large shop space with 120’ X 50’ & 60’ X 70’ sections
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
$77,683
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
7.93%
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%
$1,553,660
$1.6M
Cap Rate 7%
$1,109,757
$1.1M
Cap Rate 9%
$863,144
$863.1K
Market Conditions
NOI Build-Up for 10,060 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
$132.8K $13.20/SF
− Vacancy
−$13.3K −$1.32/SF
EGI
$119.5K $11.88/SF
− OpEx
−$41.8K −$4.16/SF
NOI
$77.7K $7.72/SF
Area
Brown County, SD
Vacancy
10.00%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
35.00%
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%
$1,553,660
Cap Rate 7%
$1,109,757
Cap Rate 9%
$863,144
Alternative Uses
Best Use
Flex RnD
$1.11M
$971.0K – $1.29M
NOI $77,683 @ 7.0% cap · market cap 7.93%
Second Best
Industrial
$325.9K
$285.2K – $380.3K
NOI $22,816 @ 7.0% cap · market cap 2.33%
Theoretical Best
Healthcare Medical
$1.76M
$1.54M – $2.05M
NOI $122,953 @ 7.0% cap · market cap 12.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
280
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
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 Industrial in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Aberdeen Catering Company — 719 N Main St, Aberdeen, SD 57401
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Frequently Asked Questions
What type of property is this?
Flex space - Well-maintained shop with easy access and ample parking.
Where is this flex space located?
The property is located at 715 S State St Aberdeen, SD.
What is the asking price?
The asking price for this property is $979,000.
What are key features of this property?
This property features: High‑traffic location at the corner of US Highway 12 & South State Street; Considerable paved surface parking; Large shop space with **120’ X 50’ & 60’ X 70’ sections**
