Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1520 NE 3rd St Madison, SD 57042

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    20,000 SF flex building on 5.02 acres for sale.

    Type:Industrial
    Property size:
    20,000 SF
    Lot size:
    5.02 Acres
    Added:
    Oct 16, 2024
    Days on Market:
    539
    Last Refresh:
    Mar 17 at 1:13 pm

    Property Features for 1520 NE 3rd St

    General Information

    Standard status
    Active
    Size
    20,000 SF
    Lot size
    5.02 Acres
    Property subtype
    Industrial

    Building Details

    Year Built
    1981

    We can help!

    Listing Contact
    Andi Anderson

    Listing agent Andi Anderson License #11675

    Listing office Bender Commercial

    Listing date Oct 16, 2024

    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 Bender Commercial

    Overview

    Flex Property Near Madison Airport

    This flex property is located near the Madison Municipal Airport. The building measures 100 feet by 200 feet and sits on 5.02 acres. It features two 8-foot high by 9-foot wide dock-high doors, one equipped with dock seals and a leveler, and one 7-foot by 9-foot grade-level door. The building has 20-foot sidewalls and is equipped with 208/120v 80 amp, 3-phase power. The property includes an office area with private offices, restrooms, and a breakroom. The HVAC system was replaced in 2020. The building is fully air-conditioned. There is excess land available for potential expansion.
    Location Intelligence

    Current Use by Public Records

    Aerostar Industrial Manufacturer

    Suggested Use

    Building Supply Spa & Massage Center Dental Office HVAC Service Electrical Service Daycare Center Pet Grooming Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Madison
    County
    Lake
    State
    South Dakota
    Longitude
    -97.088457
    Latitude
    44.007883

    Nearby Similar for Sale

    • $378,500
      2,568 SF

      Established Bar and Restaurant For Sale

      Profitable bar and restaurant in growing community near college campus.
      123 SW 1st St, Madison, SD 57042
      View Details
    • $249,900

      Prime Corner Lot in Madison

      High-visibility commercial property with expansion potential in Madison, SD.
      325 SE 4th St, Madison, SD 57042
      View Details
    • $649,900
      8,900 SF

      Established Restaurant and Lounge For Sale

      Restaurant and lounge with meeting and banquet rooms available for sale.
      1407 NW 2nd St, Madison, SD
      View Details
    • $365,000
      1,618 SF

      Established Car Wash Business For Sale

      Profitable, updated car wash business with consistent traffic.
      304 NE 2nd St, Madison, SD
      View Details
    • $380,000
      5,612 SF

      Versatile Mixed-Use Property in Madison

      Mixed-use property near downtown Madison and Dakota State University.
      610 NE 3rd St, Madison, SD 57042
      View Details
    • $900,000
      20,000 SF

      Madison Flex Property Near Airport

      20,000 SF flex building on 5.02 acres for sale.
      1520 NE 3rd St, Madison, SD
      View Details
    • $2,800,000
      34,200 SF

      New Industrial Shop Units Available

      New industrial shop units for sale, built in 2024.
      1301-1337 John Deere Circle, Madison, SD 57042
      View Details

    FAQs

    What type of property is this?
    Flex space - 20,000 SF flex building on 5.02 acres for sale.
    Where is this flex space located?
    The property is located at 1520 NE 3rd St Madison, SD.
    What is the asking price?
    The asking price for this property is $900,000.
    What are key features of this property?
    This property features: Located near the Madison Municipal Airport.; Excess land for expansion opportunity.; Fully air‑conditioned.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Andi Anderson
    Real Estate License ID: 11675
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!