1 Kemp And 6 - 8 Watertown, SD 57201
- Retail properties
- 52,642 SF
Current Use by Public Records
- Retail properties
Property Details for 1 Kemp And 6 - 8
- Property size
- 52,642 SF
- Property type
- Retail properties
- Property subtype
- Office Properties & Spaces
Description
This exceptional mixed-use investment opportunity encompasses four historic buildings in Watertown, South Dakota, totaling 52,642 square feet. Built between 1882 and 1926, with renovations completed between 2018 and 2021, these properties boast a blend of original character and modern updates. The portfolio includes apartment units, storefronts, and traditional office spaces, currently housing eight tenants with 72% occupancy under net leases. The buildings, featuring three stories each, are zoned for commercial use and offer significant value-add potential. The asking price is $1,700,000, translating to $32.29 per square foot. Located at 1-11 W Kemp Ave, 2 E Kemp Ave, and 6-8 S Broadway, Watertown, SD 57201, this portfolio presents a unique chance to acquire a piece of Watertown's rich history while capitalizing on strong rental income and future rent bumps of 3-5%. The property's prime location ensures high visibility and accessibility for businesses and residents alike. This is a rare opportunity to own a significant piece of Watertown's commercial real estate landscape. The multi-tenant structure provides diversification and stability, while the existing commercial tenants contribute to immediate cash flow. The residential units offer additional income streams and the potential for further upgrades and rent increases. This portfolio is ideal for investors seeking a blend of historical charm, strong cash flow, and significant upside potential.
Value Estimation
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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
- -97.1146
- Latitude
- 44.9005
