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Verifications Building 1425 Mickelson Dr 30,240 SF Office Building Watertown, SD 57201 $2,520,000 ($83.33/SF) 9.60% Cap Rate
Investment Highlights
- Great revenue stream property, employee amenities include two coffee bars, large cafeteria, outside courtyard
- Extensive on-site parking
- Fully leased property.
- Located in a Business Park (BP) zoning district
Executive Summary
Currently fully leased by an international tenant. Great Revenue Stream property. For User buyers availability could be mid-2026 unless tenant exercises it's option to extend at a 3% rent increase for 12 months. Additional details available; upon execution of Confidentiality Agreement, an Executive Summary will be provided...please contact broker to proceed. Co-op brokerage is not available on this listing; brokers must register their buyer and have a commission agreement in place with their buyer.
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Building Size
30,240 SF
Building Class
B
Year Built
2000
Price
$2,520,000
Price Per SF
$83.33
Cap Rate
9.60%
NOI
$241,920
Tenancy
Single
Building Height
2 Stories
Typical Floor Size
15,120 SF
Slab To Slab
15’
Building FAR
0.13
Lot Size
5.18 AC
Zoning
BP (Business Park) - Office, light industrial, manufacturing
Parking
240 Spaces (7.93 Spaces per 1,000 SF Leased)
Amenities
- Central Heating
- Air Conditioning
- Smoke Detector
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Fairly walkable
40/100
Exceptionally drivable
100/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 013076 | Improvements Assessment | $2,839,249 |
| Land Assessment | $330,690 | Total Assessment | $3,169,939 |
Property Taxes
Parcel Number
013076
Land Assessment
$330,690
Improvements Assessment
$2,839,249
Total Assessment
$3,169,939
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Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
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Presented by
https://www.linkedin.com/in/jim-owen-0a01b410b
Verifications Building | 1425 Mickelson Dr
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