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Adaptive Former School Conversion Opportunity 613 Mulberry St 33,436 SF Specialty Building Online Auction Sale Yankton, SD 57078
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Investment Highlights
- Former elementary school with substantial infrastructure, featuring multiple classrooms and 14 restrooms, situated on a 2.6-acre site.
- Rare large-scale redevelopment opportunity, ideal for senior living, housing conversion, or institutional use, or continued educational use.
- Constructed with durable brick on a sizable site featuring large interior spaces, with strong structural character and flexible possibilities.
- Positioned along the South Dakota–Nebraska border, less than 2 miles from both Avera Sacred Heart Hospital and Mount Marty University.
- Landmark asset, in a growing market focused on future housing development in an affluent community, responsible for over $238M in annual spending.
- Absolute auction | Starting bid $1.
Executive Summary
Discover this rare adaptive redevelopment opportunity at 613 Mulberry Street, Yankton, South Dakota, offering developers office space with conversion potential in a high-demand Midwest market. 613 Mulberry Street is a 33,436-square-foot former elementary school, situated on a 2.6-acre site and zoned R4 Multi-Family Residential, allowing for a wide range of residential, institutional, and mixed-use redevelopment possibilities. With an expansive interior layout featuring multiple classrooms and 14 bathrooms, the school is well-positioned for conversion to multifamily housing, senior living, office space, or other creative redevelopment concepts. This large-scale building provides the flexibility and infrastructure needed for a successful repositioning.
Strategically positioned within a growing and affluent area generating over $238,300,000 in annual consumer spending, 613 Mulberry Street benefits from strong local demographics, a stable economy, 0% state income tax, and the nation's lowest unemployment rate of 1.5%. Key employment drivers in healthcare and manufacturing further support long-term demand for housing conversion. The site is surrounded by established retailers and service providers and offers convenient access to Route 81, enhancing connectivity within the region and to the South Dakota–Nebraska border.
Positioned just 1.5 miles from Avera Sacred Heart Hospital and 1.7 miles from Mount Marty University, the property is located to support senior, student, and workforce housing, as well as institutional redevelopment. Yankton is a scenic location known for its appeal to families and retirees. As the city continues to focus on targeted housing development, infrastructure investment, and technology and manufacturing expansion, 613 Mulberry Street stands out as a rare opportunity to acquire a landmark asset with significant redevelopment upside in an emerging growth market.
Property tours are by appointment only. Please contact the listing broker to schedule.
Strategically positioned within a growing and affluent area generating over $238,300,000 in annual consumer spending, 613 Mulberry Street benefits from strong local demographics, a stable economy, 0% state income tax, and the nation's lowest unemployment rate of 1.5%. Key employment drivers in healthcare and manufacturing further support long-term demand for housing conversion. The site is surrounded by established retailers and service providers and offers convenient access to Route 81, enhancing connectivity within the region and to the South Dakota–Nebraska border.
Positioned just 1.5 miles from Avera Sacred Heart Hospital and 1.7 miles from Mount Marty University, the property is located to support senior, student, and workforce housing, as well as institutional redevelopment. Yankton is a scenic location known for its appeal to families and retirees. As the city continues to focus on targeted housing development, infrastructure investment, and technology and manufacturing expansion, 613 Mulberry Street stands out as a rare opportunity to acquire a landmark asset with significant redevelopment upside in an emerging growth market.
Property tours are by appointment only. Please contact the listing broker to schedule.
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- Operating and Financials
- Purchase Agreement
- Third Party Reports
- Title and Insurance
- FEMA Map
- Survey
Property Facts
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Fairly walkable
40/100
Exceptionally drivable
100/100
Moderately bikeable
60/100
Sale Advisor
Sale Advisor
Kerry Woehl, Broker, Real Estate Advisor
Kerry Woehl is a licensed real estate broker serving Yankton, South Dakota, with a focus on commercial and multifamily properties. She provides strategic representation for investors, developers, and business owners seeking to buy, sell, or expand in the Yankton area. Known for her responsiveness, transparency, and local expertise, Kerry delivers results-driven service rooted in professionalism and trust. Her experience spans apartment buildings, retail properties, and mixed-use investments throughout southeastern South Dakota.
About the Auction Technology
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Auction Contact
Jameson Kuykendall
Contact
Auctioneer License:
Ten-X Arlene Richardson RE Brkr 15963
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Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
3% Transaction Fee
Based on Winning Bid Amount
Minimum Transaction Fee
$20,000
Maximum Transaction Fee
$300,000
Example Calculation
Winning Bid Amount
$5,000,000
Transaction Fee
$150,000 (3%)
Total Purchase Price
$5,150,000
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