111 Main StHenry, SD 57243

Property Details for 111 Main St

Year built

1974

Lot size

0.22 AC

Property type

Commercial real estate

APN

4818

APU

4818

Description

This exceptional 2,353 square foot Class C executive office building, located at 111 Main Street in Henry, South Dakota, presents a unique investment opportunity. Built in 1974, the property sits on a 0.24-acre lot and boasts a prominent location in the heart of Henry, conveniently situated north of Highway 212. Neighboring businesses include the Henry Town Hall and Double Barrel Steakhouse, ensuring high visibility and convenient access to local amenities. The building features a spacious lobby, two restrooms, and a notable security feature: two vaults equipped with substantial 3-foot doors. This characteristic makes the property suitable for various uses, including but not limited to, financial institutions (subject to any existing restrictions), or even a hunting bunkhouse given its proximity to hunting grounds. The property's annual real estate taxes are $3,434.96. The building's age and features offer potential for renovation and modernization to enhance its value and appeal. This is a rare opportunity to acquire a well-positioned commercial property in a desirable South Dakota location. The property's central location and unique features make it an attractive investment for a variety of business owners or investors seeking a strong foothold in the Henry market. Serious inquiries are encouraged. The zip code is 57243, and the property is located in Codington County.

• CAP approach

  CAP return

  Valuation

  6%

  $1,706,750

  6.5%

  $1,575,460

  7%

  $1,462,930

• Comparable approach

  Method

  Valuation

  Relative Method

  $497,640

  Geo Method

  $497,640

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $3,278,750

  Retail / Commercial

  $1,646,670

  Mixed-Use / Specialty

  $1,613,490

  Hospitality / Lodging

  $1,148,210

  Office

  $1,575,460

  Institutional / Educational

  $1,667,620

  Residential Income

  $1,951,110

  Multifamily

  $2,491,460

  Automotive / Energy

  $1,429,390

  Parking / Income-Based Land

  $520,245

  Restaurant / Food Service

  $780,906

  Healthcare / Senior Housing

  $1,682,610

Location Insight

City

Henry

County

Codington

State

South Dakota

Latitude

44.8784

Longitude

-97.4678

CBSA code

47980

CBSA name

WATERTOWN, SD MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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