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    14 S Main St Aberdeen, SD 57401

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    For Lease
    Contact for pricing

    Office space available for rent in Aberdeen, South Dakota.

    Type:Office
    Property size:
    13,500 SF
    Added:
    Oct 5, 2021
    Days on Market:
    1645
    Last Refresh:
    Mar 17 at 1:17 pm

    Property Features for 14 S Main St

    General Information

    Standard status
    Active
    Size
    13,500 SF
    Property subtype
    Office

    Building Details

    Year Built
    2013

    Spaces For Lease

    at 14 S Main St Contact us

    Suite 201 $14 /Mo

    Size
    2,276 SF
    Type
    Office
    Second floor, Main Street view in the downtown core. Ample paved parking. The space...
    show more
    Contact us

    Suite 307 $12 /Mo

    Size
    6,957 SF
    Type
    Office
    Great 3rd floor downtown space with large windows facing Main Street. Elevators and...
    show more
    Contact us

    Suite 207 $16 /Mo

    Size
    219 SF
    Type
    Office
    Great space for small office use. Downtown Aberdeen core.
    Contact us

    We can help!

    Listing Contact
    Robin Johnson

    Listing agent Robin Johnson License #SD 15391

    Listing office Dakota Plains Commercial Real Estate and Development

    Listing date Oct 5, 2021

    Source Crexi

    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

    Overview

    Office Space for Rent

    Available for lease is 13,500 square feet on the north half of the second floor of a three-story building. The entire third floor, comprising 27,500 square feet, may also be available, as well as 13,500 square feet on the south half of the second floor. The rental rate is between $15.46 and $16.43 per square foot, all-inclusive, for leases exceeding 10,000 square feet, with a five-year term. The lease includes a 3% accelerator for CPI adjustments on the renewal date. Tenants are responsible for their own build-out and redecorating. Ample parking is available with leases. A 24-hour notice is required for showings, and tenants must prequalify.
    Location Intelligence

    Current Use by Public Records

    Entrepreneurial Operating System ... Consultant SD Deaf Resource ... Social Service Agency Giridhar Sanjeevi MD Physician Latonya Gage Foster Care Service Northeastern Mental Health ... Crisis Center

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Aberdeen
    County
    Brown
    State
    South Dakota
    Longitude
    -98.487959
    Latitude
    45.4657012

    Nearby Similar for Lease

    • Contact for pricing

      Main Street Retail Space Available

      Retail space in a central business district location.
      309 S Main St, Aberdeen, SD 57401
      View Details
    • Contact for pricing

      Office Space on 6th Avenue

      Nicely built-out office space with ample parking.
      110 6th Ave SE, Aberdeen, SD 57401
      View Details
    • $144/mo

      Downtown Retail Space Available

      Retail space in a busy downtown core location.
      319 S Main St, Aberdeen, SD 57401
      View Details
    • Contact for pricing

      Industrial Space in Former Plant

      29,000 SF industrial space available for lease.
      2914 Industrial #2 Avenue, Aberdeen, SD 57401
      View Details

    FAQs

    What type of property is this?
    Office units - Office space available for rent in Aberdeen, South Dakota.
    Where is this office units located?
    The property is located at 14 S Main St Aberdeen, SD.
    What are key features of this property?
    This property features: Large space available: 13,500 sf on N1/2 of 2nd floor.; All‑inclusive lease rate: $15.46-$16.43 psf (over 10,000 sf).; Flexible lease term: Five years with 3% accelerator.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Robin Johnson
    Real Estate License ID: SD 15391
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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