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    404 1St Ave Mitchell, SD 57301

    Sponsored
    For Sale
    $460,000

    Profitable Mixed-Use Property in Mitchell, SD

    Property size:
    944 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional mixed-use property, located at 404 W 1st Ave in Mitchell, South Dakota, presents a compelling investment opportunity. Priced at $460,000, this 2,744 square foot building boasts a prime corner lot spanning 28,050 square feet, offering significant land value estimated at $10-12 per square foot. Built in 1999 and renovated in 2015, the property includes two buildings, one main building with 944 square feet of office space featuring four offices, a restroom, and a break room, and a separate 1,800 square foot heated shop building. The property also benefits from ample parking with 60 spaces. Currently operating as a used car dealership with 100% occupancy as of February 22, 2024, the flexible Transportation, Warehouse, and Commercial zoning allows for diverse uses. The high-traffic location, near downtown Mitchell, ensures excellent visibility and accessibility. The property is also available for lease at $4,500 per month, triple net. This is a rare opportunity to acquire a well-maintained, versatile commercial property in a thriving South Dakota market. The property's strong cash flow potential and flexible zoning make it an ideal investment for owner-users or investors seeking a high-return asset. The Class B building is situated in Davison County, zip code 57301.

    Property Features for 404 1St Ave

    General Information

    Property type
    Warehouses
    Square Feet
    944 SF
    Class
    B

    Building Details

    Year Built/Renovated
    1999/2015
    Buildings
    2
    Stories
    1
    Units
    2

    HighLights

    • $460,000 asking price for this mixed‑use property in Mitchell, SD.
    • 944 SF of office space plus an 1,800 SF heated shop building on a 28,050 SF lot.
    • Currently operating as a used car dealership with 100% occupancy.
    • High‑traffic corner lot location near downtown Mitchell with 60 parking spaces.
    • Flexible Transportation, Warehouse, and Commercial zoning allows for diverse uses.
    Property Profile Location Intelligence

    Current Use by Public Records

    Auto Shoppe Used Car Dealer Tavo's Carpet & Flooring ... Carpet Wholesaler

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Mitchell
    County
    Davison
    State
    South Dakota
    Longitude
    -98.0303888
    Latitude
    43.709767

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    FAQs

    What type of property is this?
    Warehouse - Profitable Mixed-Use Property in Mitchell, SD
    Where is this warehouse located?
    The property is located at 404 1St Ave Mitchell, SD.
    What is the asking price?
    The asking price for this property is $460,000.
    What are key features of this property?
    This property features: $460,000 asking price for this mixed-use property in Mitchell, SD.; 944 SF of office space plus an 1,800 SF heated shop building on a 28,050 SF lot.; Currently operating as a used car dealership with 100% occupancy.
    (605) 999-4240
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    404 1St Ave Mitchell, SD 57301
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    Mitchell, SD 57301
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    Realmo Value Estimation

    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.

    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.

    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
    404 1St Ave Mitchell, SD 57301
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