700 22Nd AveBrookings, SD 57006

Property Details for 700 22Nd Ave

Construction

CONCRETE BLOCKS

Property type

Commercial real estate

APN

400750000000200

APU

400750000000200

Description

This 164,668 square foot shopping center in Brookings, South Dakota, presents a compelling value-add investment opportunity. Anchored by a Hy-Vee grocery store, Brookings Municipal Liquor Store, and Biomat Plasma Center, the center boasts a diverse tenant mix of national brands and local businesses. Currently 75.5% occupied, there are approximately 39,150 square feet of leasable space available, offering significant potential for increased revenue. The property sits on a 13.65-acre lot with four potential pad sites for development, ground leases, or sales, further enhancing its investment appeal. Located on a major thoroughfare (22nd Ave S, with over 10,200 cars daily) and near Interstate 29, the center benefits from high visibility and convenient access. Built in 1973 with renovations in 2002, the property is zoned Business B-2. The asking price is $14,467,000, translating to $87.86 per square foot of net rentable area (159,684 sq ft). Rent bumps vary by tenant. This fee-simple ownership provides a strong foundation for long-term growth and profitability. The property's strategic location near major employers, including the 3M Brookings plant, ensures a robust customer base. This is an exceptional opportunity for investors seeking to capitalize on a well-positioned, value-add retail center in a growing market.

Location Insight

City

Brookings

County

Brookings

State

South Dakota

Latitude

44.2983

Longitude

-96.7698

CBSA code

15100

CBSA name

BROOKINGS, SD MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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