118 E 2nd St
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118 E 2nd St
5,220 SF Office Building Miller, SD 57362 £437,481 (£84/SF) 11.40% Net Initial Yield
Investment Highlights
- Large, overflow parking lot fronts N. Broadway (aka Main Street).
- Quick Sale Price: $400,000 with 14.3% cap rate.
- Concrete block construction.
- All property viewings must be through Broker with at least 2 days notice.
Executive Summary
Freestanding office property located one block east of N. Broadway in central business district Miller, SD is a county seat town Area neighbors include Hand County Hospital, Miller Schools K-12, Quion Bank, American Bank and Trust, Runnings, Kesslers Grocery. Current Tenant – Government agency for over 48 years with 2 years remaining at $95,000 +/- per year gross, negotiations ongoing for new lease. Historical expense ratio: 40%. Lease and financials upon request.
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
5,220 SF
Building Class
B
Year Built
1976
Price
£437,481
Price Per SF
£84
Net Initial Yield
11.40%
NOI
£49,873
Tenancy
Single
Number of Floors
1
Typical Floor Size
5,220 SF
Building FAR
0.50
Lot Size
0.24 AC
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PROPERTY TAXES
| Parcel Number | 8020 | Improvements Assessment | £149,746 |
| Land Assessment | £11,602 | Total Assessment | £161,348 |
PROPERTY TAXES
Parcel Number
8020
Land Assessment
£11,602
Improvements Assessment
£149,746
Total Assessment
£161,348
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118 E 2nd St
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