Warehouse with Truck
For Sale
$979,000
715 S State Street, Aberdeen, SD 57401
Commercial, Aberdeen, SD
Property Size10,000 SF
Price / SF$97.32
Days on Market270
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
(218) 820-2431
Added: Jan 8
Changed: Sep 6
Last Checked: Oct 5 at 12:06PM
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 warehouse property includes two connected sections measuring 120' X 50' and 60' X 70'. The building features 16' walls, a 12' door, and a 14' door, along with an air exchange system, infrared ceiling heat, natural gas service, and spray-foam insulation. Exterior electrical plug-ins accommodate trucks, while paved parking supports on-site access. Built in 1969, the property is positioned just off east US Highway 12 on South State Street in Aberdeen, with weekday access available during regular business hours by advance notice.
Key Highlights
- Two warehouse sections measure 120' X 50' and 60' X 70'
- 16' walls with 12' and 14' overhead doors
- Paved parking and exterior electrical plug‑ins for trucks
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
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
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Open Analytics
Current Use
Lease Details
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
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Similar Off Market Nearby
- First Mini-Storage Inc — 1001 1st Ave SE, Aberdeen, SD 57401
- D & G Storage — 202 6th Ave SE, Aberdeen, SD 57401
- Otis Elevator Company — 1 N Main St Suite 222, Aberdeen, SD 57401
- Central Storage Large & Small — N State St, Aberdeen, SD 57401
Frequently Asked Questions
What type of property is this?
Warehouse - Maintained industrial space offers paved parking, tall interior clearance, and two overhead doors for commercial operations.
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: Two warehouse sections measure 120' X 50' and 60' X 70'; 16' walls with 12' and 14' overhead doors; Paved parking and exterior electrical plug‑ins for trucks
