Real Estate/Development/1031 Exchanges

ABERDEEN COMMERCIAL PROPERTY FOR SALE

Blackstone Developers LLC | $9,730,000

14 S Main Street, Aberdeen
Designed by national award-winning architects Barbour & LaDouceur of Minneapolis, this three story office building was constructed in 2003. The building was designed in conjunction with Well Fargo corporation’s in-house architects to comfortably staff up to 700 employees.
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Union National Bank Building | $750,000 SOLD

120 S Main Street, Aberdeen
This brick building was constructed as a bank and office building on a 25’ x 142’ lot in the late 1890’s. It is the oldest and most elegant among all historic properties in downtown Aberdeen. It has high-arched windows on the third floor that are unique in their architecture.
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Van Slyke Buildings | $558,000

114/116/118 S Main Street, Aberdeen
This property includes a 10,650 sf basement and has an above grade square footage of 33,950 or $16.44 psf, including the mezzanines. The adjacent property of 112 S. Main, a 3,550 sf single story brick building, sold for $27.32 psf in 2013.
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Burlington Northern Depot Parking Lot | $880,000

1 N Main Street, Aberdeen
This parking lot is over 50,000 square feet in downtown Aberdeen and contains 98 parking space, 20 of which are leased.
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South Main Parking Lot | $500,000

1/3/5/9 S Main Street, Aberdeen
This parking lot is over 19,000 square feet in downtown Aberdeen.
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Before and after Sold/Leased spaces around town

DaVita Dialysis (West near Mall)

DaVita Dialysis (West near Mall)

 

Anytime Fitness downtown Aberdeen first floor leased space

Anytime Fitness downtown Aberdeen first floor leased space

 

 


FOR LEASE:

rivett4-1

MLS: 16-542  

614 Camelot Drive $9.45 psf/NNN

Total Sq Ft available: 24,300

112 parking spots available


FOR LEASE:

14 S Main St Aberdeen, SD

MLS: 15-719

14,000 sq ft (out of 94,000 sq ft bldg)  $12/psf/NNN

DPRED Aman 14 S Main


FOR LEASE:

rivett3

410 S Harvard (Ground Floor of My Place Hotel East Side)

MLS: 16-543

2 Options:

1.) 1,800 sq ft bays @ $16.80 psf/NNN

2.) 3,600 sq ft bay  @ $16.80 psf/NNN

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FOR LEASE:

rivett1

1910 NE 8th Ave: Bay 8 MLS 16-546

1,200sq ft -$12 psf/NNN

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FOR LEASE:

rivett2

 

1910 NE 8th Ave: Bay 11: MLS 16-547

1,800sq ft: $12psf/NNN  (Currently used as an office)

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FOR LEASE:

rivett5

1910 NE 8th Ave: Bay 5: MLS 16-545

2,100 sq ft -$12 psf/NNN

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FOR LEASE:

rivett6

1910 NE 8th Ave: Bay 7: MLS 16-548

1,500 sq ft – $12 psf/NNN

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FOR LEASE:

3313 6th Ave SE: MLS 16-549 BAY 2

1,500 sq ft $19 psf/NNN

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Former O'Reilly Auto Parts Building Sold

Former O’Reilly Auto Parts Building


FOR SALE: Residential $174,900: Priced Reduced!

SOLD 07/2017

1401 S 1st St. Aberdeen, SD

1404 S 1st St.
Aberdeen, SD

 

FOR SALE: 923 N Main Aberdeen SD: $189,900

CLOSED

For Sale 923 N Main Aberdeen SD $189,900

923 N Main
Aberdeen SD
$189,900


SOLD!Buzy Kidz: Downtown Aberdeen, SD: $19,995 business only

Buzy Kidz Downtown Aberdeen: Turnkey

Buzy Kidz Downtown Aberdeen: Turnkey SOLD

Well established and profitable upscale children’s store. Turnkey with up to date POS system; short term transitional training available.


SOLD

Aberdeen Mall Area

Former O'Reilly Auto Parts Building Sold

Former O’Reilly Auto Parts Building Sold 3/2016

Downtown Aberdeen

Future Space for Co-Working Space Downtown Aberdeen

Future Space for Co-Working Space Downtown Aberdeen

Anytime Fitness coming to Downtown Aberdeen:

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We are excited to bring more businesses into the downtown Aberdeen area

 

New to Aberdeen?

Take a look at what the area has to offer in this At-a-Glance document.


1031 Exchanges

Sale – Leasebacks and 1031 Exchanges

Many business owners own not only the business but also the real estate used by their business. Over time, the real estate may enjoy a significant appreciation in value while the debt on the property decreases from years of paying down the mortgage. This often represents a large chunk of the business owner (taxpayer’s) net worth. Oftentimes astute business people come to the realization they have concentrated too much of their net worth and face significant exposure if that one property falls in value.

As a business owner grows older and is considering retirement, they may want to diversify their assets (and mitigate their risk exposure) by selling the real estate, but still have their business stay on as a tenant with a long-term lease. The advantage to this business owner/taxpayer is that they can 1031 exchange their hard-earned equity into a more safe and diversified portfolio of like-kind properties in local or different geographic areas and in different business segments such as Retail, Multi-family, Industrial or Office.

Consider doing a 1031 with the real estate, then selling the business. If the taxpayer is considering selling their business, the buyer would not have to purchase the real estate, and could acquire the business with a lower down payment as they would not have to qualify for a real estate loan. This buyer of the business would also have the certainty of assuming a long-term fixed lease and continue to run the business where it has been located.

As a general rule, when you are selling real estate, you want to receive all of your cash upfront so you can invest all of this equity through a 1031 into your new replacement properties. Business owners often find that selling to a strong non-related cash buyer is often more desirable then attempting to sell both the business and its real estate to a single buyer. In today’s market we see many potential buyers are already stretching their finances in purchasing the business.

We often see seller-back financing in order to get the top-dollar amount for the business. It is very common to see the seller get their proceeds over an extended period of time, which is fine for the business sale, but not for a 1031 transaction. If you are looking to defer all of of your gains from the real estate sale, it is often better to split the sale of the business from its real estate, thus maximizing the seller’s financial returns while deferring taxation through a 1031 Exchange.

 

Questions? Give us a call at 605-225-1800 for a confidential appointment to discuss your business or real estate divestiture, with no obligation of course.


Happy Clients

Eide Baillly Downtown Aberdeen

Eide Baillly Downtown Aberdeen

Strongheart Martial Arts Academy Downtown Aberdeen

Strongheart Martial Arts Academy Downtown Aberdeen

Arrow Boutique Downtown Aberdeen

Arrow Boutique Downtown Aberdeen

Rustic Roots Briscoe Building Aberdeen

Rustic Roots Briscoe Building Aberdeen

 

The Brass Kettle Downtown Aberdeen

The Brass Kettle Downtown Aberdeen

 

Anytime Fitness Downtown Aberdeen

Anytime Fitness Downtown Aberdeen

 

The Workshop Space Downtown Aberdeen

The Workshop Space Downtown Aberdeen

 



 

FullSizeRender (18) Specializing in Commercial Real Estate and Residential in Northeast South Dakota

ABERDEEN PROJECT

Dakota Plains Development is an equity-partner and co-developer of the iconic Olwin–Angell building in downtown Aberdeen. This 3 story, 21,000 square foot building was constructed as 2 stories  in 1903, with the third floor added in 1917. The two upper floors will contain 14 loft-style apartments, while the main level will be remodeled to house one to three storefronts and offices. The project is expected to be completed by the fall of 2014.

Dakota Plains continues to seek well-positioned development and re-development projects in the Dakotas & Minnesota. Please contact us at info@dakota-plains.com.