1 Kemp And 6 - 8Watertown, SD 57201

For Sale
$1,700,000

Historic Charm, Prime Location, High Potential

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional mixed-use investment opportunity encompasses four historic buildings in Watertown, South Dakota, totaling 52,642 square feet. Built between 1882 and 1926, with renovations completed between 2018 and 2021, these properties boast a blend of original character and modern updates. The portfolio includes apartment units, storefronts, and traditional office spaces, currently housing eight tenants with 72% occupancy under net leases. The buildings, featuring three stories each, are zoned for commercial use and offer significant value-add potential. The asking price is $1,700,000, translating to $32.29 per square foot. Located at 1-11 W Kemp Ave, 2 E Kemp Ave, and 6-8 S Broadway, Watertown, SD 57201, this portfolio presents a unique chance to acquire a piece of Watertown's rich history while capitalizing on strong rental income and future rent bumps of 3-5%. The property's prime location ensures high visibility and accessibility for businesses and residents alike. This is a rare opportunity to own a significant piece of Watertown's commercial real estate landscape. The multi-tenant structure provides diversification and stability, while the existing commercial tenants contribute to immediate cash flow. The residential units offer additional income streams and the potential for further upgrades and rent increases. This portfolio is ideal for investors seeking a blend of historical charm, strong cash flow, and significant upside potential.

Highlights

  • $1,700,000 asking price for a mixed-use property in Watertown, SD.
  • Value-add investment opportunity with a Class C designation.
  • 52,642 square feet across four buildings, totaling three stories.
  • Multi-tenant property with eight tenants and 72% occupancy.
  • Net lease structure with 3-5% annual rent bumps.

Property Details for 1 Kemp And 6 - 8

Property type
Other retail properties, Individual retail properties
Square Feet
52,642 SF
Class
C
Buildings
4
Stories
3

Location Insight

City
Watertown
County
Codington
State
South Dakota
Latitude
44.900485715819
Longitude
-97.114597738989
1 Kemp And 6 - 8, Watertown, South Dakota

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1 Kemp And 6 - 8
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