Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • 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
    Property profile & analytics

    244 Main St Salem, SD 57058-2003

    • Commercial real estate
    • 9,360 SF
    • 0.17 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US79-0721610
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Zapp Hardware / Hardware Store

    Property Details for 244 Main St

    Lot size
    0.17 lot acres
    Property size
    9,360 SF
    Property type
    Commercial real estate
    APN
    17.00.1317
    APU
    17001317

    Description

    This exceptional retail property, located at 244 Main St in Salem, South Dakota, presents a unique investment opportunity. The building sits on a sizable 0.16-acre lot (6,798 square feet), providing ample space for various commercial uses. Currently operating as a hardware store, the property offers immediate income potential for a buyer looking to continue its established business. However, the versatile nature of the building and its central location within Salem make it ideal for a wide range of retail or commercial ventures. The substantial lot size allows for potential expansion or redevelopment, catering to a variety of business needs. The property's prime location in Salem ensures high visibility and accessibility, attracting a significant customer base. This is a rare chance to acquire a well-positioned commercial property in a thriving community, offering both immediate returns and long-term growth potential. The asking price is $350,000. Serious inquiries are encouraged to explore this exciting opportunity further. The property is ready for immediate occupancy and offers a strong foundation for a successful business venture. Don't miss out on this chance to own a piece of Salem's vibrant commercial landscape.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Salem
    County
    Mccook
    State
    South Dakota
    Longitude
    -97.3869
    Latitude
    43.7262
    CBSA code
    43620
    CBSA name
    SIOUX FALLS, SD METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $2,043
    $16,108
    $88,700
    $104,808
    -
    $16,108
    $88,700
    $104,808

    Comparable in this City

    • Value Estimation by Request
      0.24 Acres

      Salem, SD 57058

      COMMERCIAL (GENERAL) • 0.24 Acres
      Salem, SD 57058
      View Details
    • Value Estimation by Request
      0.34 Acres

      Salem, SD 57058

      COMMERCIAL (GENERAL) • 0.34 Acres
      Salem, SD 57058
      View Details
    • Value Estimation by Request
      1,440 SF

      103 Minnesota St

      COMMERCIAL (GENERAL) • 1,440 SF
      103 Minnesota St, Salem, SD 57058-8554
      View Details
    • Value Estimation by Request
      1,512 SF

      116 Vermont Ave

      COMMERCIAL (GENERAL) • 1,512 SF
      116 Vermont Ave, Salem, SD 57058-8801
      View Details
    • Value Estimation by Request
      4,000 SF

      Salem, SD 57058

      COMMERCIAL (GENERAL) • 4,000 SF
      Salem, SD 57058
      View Details
    • Value Estimation by Request
      10,400 SF

      Salem, SD 57058

      COMMERCIAL (GENERAL) • 10,400 SF
      Salem, SD 57058
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      0.65 Acres

      Salem Industrial Park Lots

      Prime Industrial Land, Western Salem, SD
      301 Douglas St, Salem, SD 57058
      View Details
    • $500,000

      Salem Motel - Family-Run Business

      15-Unit Motel, 3 Living Quarters, Great Location
      361 Nebraska St, Salem, SD 57058
      View Details
    • $1,000,925
      9,100 SF

      Dollar General Store in Salem

      Established Dollar General store in Salem, South Dakota for sale.
      131 N Nebraska St, Salem, SD 57058
      View Details
    • $130,000
      1,610 SF

      Turnkey Restaurant/Coffee Shop Opportunity

      Turnkey restaurant/coffee shop with character, charm, and outdoor seating.
      116 E Vermont Ave, Salem, SD 57058
      View Details
    • $590,000
      936 SF

      Main Street Retail Opportunity

      Established retail property on Main Street, Salem, South Dakota.
      110 N Main St, Salem, SD 57058
      View Details
    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.
    244 Main St
    Salem, SD 57058-2003
    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.