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    Property profile & analytics

    229 Lovely Ave Baltic, SD 57003

    • Investment properties
    • 3.08 lot acres
    For Sale
    View listing
    $425,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Investment properties

    Property Details for 229 Lovely Ave

    Year built
    2021
    Lot size
    3.08 lot acres
    Property type
    Investment properties

    Description

    This 3.08-acre parcel at 229 Lovely Ave in Baltic, SD presents a remarkable opportunity for commercial development. Its prime location on a main thoroughfare ensures high visibility and accessibility, making it perfect for a variety of uses, including a strip mall or multi-family housing. The property benefits from its proximity to a local gas station and the Baltic school, providing convenient access to essential services and a strong potential customer base. Baltic is experiencing significant growth, making this an exceptional investment in a thriving community. The expansive lot offers ample space for a substantial development project, catering to the increasing demand for commercial and residential spaces within the area. This location offers significant potential for return on investment due to the high traffic count and the town's ongoing expansion. The property is priced competitively at $425,000, reflecting its significant potential for future growth and development. Serious inquiries are encouraged to explore this exceptional commercial land opportunity. The seller is motivated and ready to negotiate.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Baltic
    County
    Minnehaha
    State
    South Dakota
    Longitude
    -96.739
    Latitude
    43.7611

    Comparable in this City

    • Value Estimation by Request
      0.10 Acres

      Baltic, SD 57003

      MINI-WAREHOUSE, STORAGE • 0.10 Acres
      Baltic, SD 57003
      View Details
    • Value Estimation
      $630,000
      3,475 SF

      413 4th St Sta, Unit A

      PARKING GARAGE, PARKING STRUCTURE • 3,475 SF
      413 4th St Sta, Baltic, SD 57003
      View Details
    • Value Estimation
      $1,825,000
      19,552 SF

      47528 252nd St

      OFFICE BUILDING • 19,552 SF
      47528 252nd St, Baltic, SD 57003-5961
      View Details
    • Value Estimation by Request
      235 SF

      25451 475th Ave

      WAREHOUSE, STORAGE • 235 SF
      25451 475th Ave, Baltic, SD 57003-5939
      View Details
    • Value Estimation by Request
      1.16 Acres

      528 Lovely Ave

      VACANT COMMERCIAL LAND • 1.16 Acres
      528 Lovely Ave, Baltic, SD 57003-2020
      View Details
    • Value Estimation by Request
      3,180 SF

      Baltic, SD 57003

      BAR, TAVERN • 3,180 SF
      Baltic, SD 57003
      View Details

    Similar Nearby for Sale

    • $425,000
      3.08 Acres

      Baltic Commercial Land Opportunity

      High-traffic lot, ideal for development.
      229 Lovely Ave, Baltic, SD 57003
      View Details
    • $430,000

      Land Parcel on Lovely Avenue

      Commercial land parcel suitable for professional buildings in Baltic.
      Land Lovely Ave, Baltic, SD 57003
      View Details
    • $430,000

      Commercial Land on Lovely Avenue

      Commercial land available in Baltic, suitable for professional buildings.
      Lovely Ave, Baltic, SD 57003
      View Details
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    229 Lovely Ave
    Baltic, SD 57003
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    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
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