Warehouse with Paved
For Sale
$979,000
715 S State Street, Aberdeen, SD 57401
COMMERCIAL - Aberdeen, SD
Property Size10,000 SF
Price / SF$97.32
Days on Market224
Property Features for 715 S State Street
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
Aberdeen - City
Standard status
Active
Size
10,060 SF
Taxes and HOA fees
Tax Description
LT 2 BRICK'S 1ST ADD
Tax Annual Amount
6036
Legal Description
LT 2 BRICK'S 1ST ADD
Building Details
Year built
1969
Listing Agency:
Dakota Plains Real Estate & Development
(605) 225-1800
Listed By:
Robin (Rob) K Johnson · License #15391
(605) 225-1800
Added: Jan 8
Changed: Aug 18
Last Checked: Aug 20 at 8:06PM
MLS# 26-9
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 10,060-square-foot warehouse, built in 1969, is arranged across 120' X 50' and 60' X 70' sections. The building provides 16' walls, one 12' door, and one 14' door, supporting varied storage and service requirements. Interior improvements include spray-foamed insulation, infrared ceiling heat, an air exchange system, and natural gas service.
Positioned just off east US Highway 12 on South State Street in Aberdeen, the property offers convenient access and extensive paved parking. Exterior electrical plug-ins are available for trucks, adding practical functionality for warehouse and commercial operations.
Positioned just off east US Highway 12 on South State Street in Aberdeen, the property offers convenient access and extensive paved parking. Exterior electrical plug-ins are available for trucks, adding practical functionality for warehouse and commercial operations.
Key Highlights
- 10,060 SF warehouse built in 1969
- Two sections measuring 120' X 50' and 60' X 70'
- 16' walls with 12' door and 14' door
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
$27,705
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
2.83%
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%
$554,100
$554.1K
Cap Rate 7%
$395,786
$395.8K
Cap Rate 9%
$307,833
$307.8K
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
$32.6K $3.24/SF
− Vacancy
$0 $0.00/SF
EGI
$32.6K $3.24/SF
− OpEx
−$4.9K −$0.49/SF
NOI
$27.7K $2.75/SF
Area
Brown County, SD
Vacancy
0.00%
Lease Rate
$3.24 /SF/Yr
Expense Ratio
15.00%
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%
$554,100
Cap Rate 7%
$395,786
Cap Rate 9%
$307,833
Alternative Uses
Best Use
Warehouse
$395.8K
$346.3K – $461.8K
NOI $27,705 @ 7.0% cap · market cap 2.83%
Second Best
—
—
no second resolved use
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
Lease Details
16 ft
Clear height
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,400
Businesses Nearby
Balanced
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- D & G Storage — 202 6th Ave SE, Aberdeen, SD 57401
- Central Storage Large & Small — N State St, Aberdeen, SD 57401
- First Mini-Storage Inc — 1001 1st Ave SE, Aberdeen, SD 57401
- Otis Elevator Company — 1 N Main St Suite 222, Aberdeen, SD 57401
Frequently Asked Questions
What type of property is this?
Warehouse - Well-maintained warehouse offering paved parking, highway access, and functional service-oriented improvements.
Where is this warehouse located?
The property is located at 715 S State Street 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: 10,060 SF warehouse built in 1969; Two sections measuring 120' X 50' and 60' X 70'; 16' walls with 12' door and 14' door
