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Innovation Spec Building 2324 Research Park Way 30,000 SF 11% Leased Office Building Brookings, SD 57006 $4,250,000 ($141.67/SF)

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INVESTMENT HIGHLIGHTS

  • First level floor plan is built out with a modern design; Second level is first generation shell space
  • 2.1-acre site with 114 parking stalls (including 5 ADA)
  • RE Taxes: $31,046.34 (2024 Taxes payable in 2025), based on building only
  • Ground Lease; Term: 95 Years – Ending on September 5, 2106 with an Option to Renew for an additional 95-year term
  • Positioned for collaboration with SDSU and industry leaders
  • Contact Broker regarding Covenants, Conditions and Restrictions

EXECUTIVE SUMMARY

The sale offering includes the building and site improvements only. The property is located on a 95-year ground lease governed by South Dakota State University Growth Partnership Ltd., a 501©(3) non-profit corporation. The underlying land is not included in the sale. Contact Broker for a copy of the governing ground lease and additional terms.

PROPERTY FACTS

Sale Type
Investment or Owner User
Sale Conditions
Ground Lease (Leased Fee)
Property Type
Office
Building Size
30,000 SF
Building Class
B
Year Built
2012
Price
$4,250,000
Price Per SF
$141.67
Percent Leased
11%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
15,000 SF
Building FAR
0.32
Lot Size
2.12 AC
Opportunity Zone
Yes
Zoning
Agriculture - Use required to be research oriented

SPACE AVAILABILITY

  • SPACE
  • SIZE
  • SPACE USE
  • CONDITION
  • AVAILABLE
  • 1st Floor
  • 1,875-15,000 SF
  • Office
  • -
  • Now

First floor layout includes 3 training rooms, 10 private offices, 2 conference rooms, open workspace (enough for ~140 employees), in-suite bathrooms, nursing/wellness room, kitchen/employee lounge, and break area with fireplace

  • 2nd Fl-Ste 10
  • 2,025 SF
  • Office
  • Shell Space
  • Now

The entire floor is available for lease. Including Lobby, floor totals 14,410 SF.

  • 2nd Fl-Ste 6
  • 1,875 SF
  • Office
  • Shell Space
  • Now

The entire floor is available for lease. Including Lobby, floor totals 14,410 SF.

  • 2nd Fl-Ste 7
  • 2,530 SF
  • Office
  • Shell Space
  • Now

The entire floor is available for lease. Including Lobby, floor totals 14,410 SF.

  • 2nd Fl-Ste 8
  • 2,650 SF
  • Office
  • Shell Space
  • Now

The entire floor is available for lease. Including Lobby, floor totals 14,410 SF.

  • 2nd Fl-Ste 9
  • 2,570 SF
  • Office
  • Shell Space
  • Now

Great opportunity to bring your business to Brookings, South Dakota! Prominently located with I-29 visibility, well-positioned access to two I-29 interchanges, and positioned near the SDSU campus, Walmart, Lowe’s and more.

Space Size Space Use Condition Available
1st Floor 1,875-15,000 SF Office - Now
2nd Fl-Ste 10 2,025 SF Office Shell Space Now
2nd Fl-Ste 6 1,875 SF Office Shell Space Now
2nd Fl-Ste 7 2,530 SF Office Shell Space Now
2nd Fl-Ste 8 2,650 SF Office Shell Space Now
2nd Fl-Ste 9 2,570 SF Office Shell Space Now

1st Floor

Size
1,875-15,000 SF
Space Use
Office
Condition
-
Available
Now

2nd Fl-Ste 10

Size
2,025 SF
Space Use
Office
Condition
Shell Space
Available
Now

2nd Fl-Ste 6

Size
1,875 SF
Space Use
Office
Condition
Shell Space
Available
Now

2nd Fl-Ste 7

Size
2,530 SF
Space Use
Office
Condition
Shell Space
Available
Now

2nd Fl-Ste 8

Size
2,650 SF
Space Use
Office
Condition
Shell Space
Available
Now

2nd Fl-Ste 9

Size
2,570 SF
Space Use
Office
Condition
Shell Space
Available
Now

1st Floor

Size 1,875-15,000 SF
Space Use Office
Condition -
Available Now

First floor layout includes 3 training rooms, 10 private offices, 2 conference rooms, open workspace (enough for ~140 employees), in-suite bathrooms, nursing/wellness room, kitchen/employee lounge, and break area with fireplace

2nd Fl-Ste 10

Size 2,025 SF
Space Use Office
Condition Shell Space
Available Now

The entire floor is available for lease. Including Lobby, floor totals 14,410 SF.

2nd Fl-Ste 6

Size 1,875 SF
Space Use Office
Condition Shell Space
Available Now

The entire floor is available for lease. Including Lobby, floor totals 14,410 SF.

2nd Fl-Ste 7

Size 2,530 SF
Space Use Office
Condition Shell Space
Available Now

The entire floor is available for lease. Including Lobby, floor totals 14,410 SF.

2nd Fl-Ste 8

Size 2,650 SF
Space Use Office
Condition Shell Space
Available Now

The entire floor is available for lease. Including Lobby, floor totals 14,410 SF.

2nd Fl-Ste 9

Size 2,570 SF
Space Use Office
Condition Shell Space
Available Now

Great opportunity to bring your business to Brookings, South Dakota! Prominently located with I-29 visibility, well-positioned access to two I-29 interchanges, and positioned near the SDSU campus, Walmart, Lowe’s and more.

PROPERTY TAXES

PROPERTY TAXES

Parcel Numbers
Multiple
  • 405270010001200
  • 409900052700112
Land Assessment
$0
Improvements Assessment
$1,798,700
Total Assessment
$1,798,700
  • Listing ID: 36276531

  • Date on Market: 6/16/2025

  • Last Updated:

  • Address: 2324 Research Park Way, Brookings, SD 57006

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