Updated Commercial Building with
For Sale
Contact for pricing
701 N Main Street, Aberdeen, SD 57401
Updated commercial building with parking and lease in place.
Property Size2,906 SF
Price / SF$100.45
Days on Market2322
Property Features for 701 N Main Street
General Information
Standard status
Active
Size
2,906 SF
Property subtype
Retail
Building Details
Year Built
1909
Listing Agency:
Dakota Plains Commercial Real Estate and Development
Listed By:
Robin Johnson · License #SD 15391
(605) 225-1800
Source:
Crexi
Added: Jun 8, 2020
Changed: Oct 5
Last Checked: Oct 16 at 7:56AM
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
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Investment Insights
Based on property information with market context.
This updated commercial building features eight off-street private parking spaces. The property has undergone over $100,000 in improvements, including two new AC units, one new furnace, multiple new windows, and new insulation. Remodeled bathrooms, new flooring, carpet, and paint enhance the interior. The property is currently leased at $2100 per month, with the tenant responsible for utilities, lawn care, and snow removal. The lease includes four one-year options. The owner is responsible for property taxes. The current business and its equipment are not included in the sale. The 2906 square foot building includes 2 -1/2 baths, 1-3/4 bath & 3-5 bedrooms and is located at 701 N Main Street, Aberdeen, SD 57401. The building is convertible to residential use if desired. Showings are limited and require advance appointments.
Key Highlights
- Nicely updated, unique commercial building.
- Current lease in place at $2100 per month plus utilities, lawn & snow with four one‑year options.
- Over $100,000 in recent improvements, including new AC units, furnace, windows, insulation, flooring, carpet, and paint.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,431
Cap Rate
7.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$448,620
$448.6K
Cap Rate 7%
$320,443
$320.4K
Cap Rate 9%
$249,233
$249.2K
Market Conditions
NOI Build-Up for 2,906 SF
Gross rent
$34.9K $12.00/SF
− Vacancy
−$2.8K −$0.97/SF
EGI
$32.0K $11.03/SF
− OpEx
−$9.6K −$3.31/SF
NOI
$22.4K $7.72/SF
Area
Brown County, SD
Vacancy
8.11%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$448,620
Cap Rate 7%
$320,443
Cap Rate 9%
$249,233
Alternative Uses
Best Use
Retail
$320.4K
$280.4K – $373.9K
NOI $22,431 @ 7.0% cap · market cap 7.68%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$507.4K
$444.0K – $592.0K
NOI $35,517 @ 7.0% cap · market cap 12.17%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
751
Businesses Nearby
26k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 100%
McDonald's
Dining
23,164 visits/mo
0.2 miles
Mazatlan Mexican Restaurant
Dining
2,814 visits/mo
0.5 miles
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
Similar Off Market Nearby
- Rustic Roots Florals — 224 1st Ave SE #2, Aberdeen, SD 57401
- Annette's Floral Boutique — 122 N Main St, Aberdeen, SD 57401
Frequently Asked Questions
What type of property is this?
Storefront property - Updated commercial building with parking and lease in place.
Where is this storefront property located?
The property is located at 701 N Main Street Aberdeen, SD.
What is the asking price?
The asking price for this property is $291,900.
What are key features of this property?
This property features: Nicely updated, unique commercial building.; Current lease in place at $2100 per month plus utilities, lawn & snow with four one‑year options.; Over $100,000 in recent improvements, including new AC units, furnace, windows, insulation, flooring, carpet, and paint.
