404 1St Ave Mitchell, SD 57301
- Commercial real estate
- 944 SF
- 0.65 lot acres
Current Use by Public Records
- Auto Shoppe / Used Car Dealer
- Tavo's Carpet & Flooring of Mitchell / Carpet Wholesaler
Property Details for 404 1St Ave
- Year built
- 1991
- Lot size
- 0.65 lot acres
- Property size
- 944 SF
- Property type
- Commercial real estate
- APN
- 15450-08700-009-00
- APU
- 154500870000900
Description
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.
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
- Mitchell
- County
- Davison
- State
- South Dakota
- Longitude
- -98.0302
- Latitude
- 43.7097
- CBSA code
- 33580
- CBSA name
- MITCHELL, SD MICROPOLITAN STATISTICAL AREA
