718 Walnut StYankton, SD 57078

Property Details for 718 Walnut St

Year built

1920

Lot size

0.62 AC

Property size (Sq ft)

6,976 SF

Property type

Retail space

APN

78.627.000.400

APU

78627000400

Description

This exceptional mixed-use commercial property, located at 718 Walnut St in Yankton, South Dakota, presents a unique investment opportunity. The 6,976 square foot building sits on a substantial 27,007 square foot lot (.62 acres) and offers a diverse range of possibilities. Recently rezoned from I-1 Industrial to B-2 Highway Business, the property boasts four entryways, ample parking, and a prime location just two blocks from Broadway Street. The building comprises three distinct areas: a 2,976 square foot retail space to the south, a 2,464 square foot apartment in the center, and a 1,536 square foot north addition suitable for expansion or additional business use. The apartment offers potential rental income, supplementing the retail space's revenue. The expansive lot provides room for future construction or additional parking. Built in 1920 and extensively renovated between 2010 and 2023, this single-story building features one loading dock. The property is available for $255,000, with a price per square foot of $36.55. The current owners are open to discussing flexible financing options, including a potential contract for deed with a limited-time offer of a $50,000 down payment, 6.5% interest, and a maximum 10-year balloon payment. This is subject to approval of other terms. The property is zoned B2 (business) and has an occupancy date of September 29, 2024. This is an owner/user investment opportunity.

• CAP approach

  CAP return

  Valuation

  6%

  $1,603,847

  6.5%

  $1,480,474

  7%

  $1,374,726

• Comparable approach

  Method

  Valuation

  Relative Method

  $897,259

  Geo Method

  $897,259

• Alternative Use

  Use

  Valuation

  Residential

  $1,248,835

  Hospitality

  $1,143,926

  Educational

  $951,733

  Medical

  $984,465

  Retail

  $1,480,474

Location Insight

City

Yankton

County

Yankton

State

South Dakota

Latitude

42.8764

Longitude

-97.3932

CBSA code

49460

CBSA name

YANKTON, SD MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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