1435 33Rd StWatertown, SD 57201

Property Details for 1435 33Rd St

Year built

2000

Lot size

4.43 AC

Property size (Sq ft)

30,240 SF

Property type

Office properties

Description

This exceptional investment opportunity presents a 30,240-square-foot, two-story office building in Watertown, South Dakota. The property, built in 2000 and renovated in 2002, boasts a steel and concrete block structure with a brick façade and features two horizontal fenestration bands for optimal natural light. The building is situated on a 4.43-acre lot with ample parking (273 spaces). Currently operating under a triple-net (NNN) lease with a corporate guarantee, the property offers a 100% occupancy rate with a remaining lease term of approximately 0.6 years (expiring March 30, 2024), followed by two one-year lease options. The current annual net operating income (NOI) is $241,920, yielding a 9.6% capitalization rate. Key features include restrooms and kitchenettes on both floors, and Cat5 cabling throughout. The property is zoned C-3 and benefits from Watertown's strategic location, midway between Sioux Falls and Fargo, and its access to major highways (I-29, US 81, and US 212). Watertown's strong workforce, fueled by Mount Marty University and Lake Area Technical College, and its "accent-neutral" speech, make it an ideal location for various businesses, particularly call centers. The asking price is $2,520,000, representing a price per square foot of $83.33. This is a rare opportunity to acquire a stable, high-yielding commercial property in a desirable location.

Location Insight

City

Watertown

County

Codington

State

South Dakota

Latitude

44.885

Longitude

-97.0599

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