Current Use by Public Records
- Office Spaces
Property Details for 1435 33Rd St
- Year built
- 2000
- Lot size
- 4.43 lot acres
- Property type
- Office Spaces
Description
This exceptional investment opportunity presents a 30,240-square-foot, two-story office building in Watertown, South Dakota. The property, built in 2000 and renovated in 2002, boasts a steel and concrete block structure with a brick façade and features two horizontal fenestration bands for optimal natural light. The building is situated on a 4.43-acre lot with ample parking (273 spaces). Currently operating under a triple-net (NNN) lease with a corporate guarantee, the property offers a 100% occupancy rate with a remaining lease term of approximately 0.6 years (expiring March 30, 2024), followed by two one-year lease options. The current annual net operating income (NOI) is $241,920, yielding a 9.6% capitalization rate. Key features include restrooms and kitchenettes on both floors, and Cat5 cabling throughout. The property is zoned C-3 and benefits from Watertown's strategic location, midway between Sioux Falls and Fargo, and its access to major highways (I-29, US 81, and US 212). Watertown's strong workforce, fueled by Mount Marty University and Lake Area Technical College, and its "accent-neutral" speech, make it an ideal location for various businesses, particularly call centers. The asking price is $2,520,000, representing a price per square foot of $83.33. This is a rare opportunity to acquire a stable, high-yielding commercial property in a desirable location.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Watertown
- County
- Codington
- State
- South Dakota
- Longitude
- -97.0599
- Latitude
- 44.885
