Mixed Retail / Office Investment Opportunity - Yankton, SD

A well-located mixed retail/office building in downtown Yankton, South Dakota, offering an investor a partially income-producing asset with immediate cash flow and upside through lease-up of a vacant suite. The building underwent an extensive renovation beginning in 2025 (approximately $175,000 invested to date, with a final phase completing by May 1, 2026) and is anchored by a well-established local tenant under a long-term lease. A second, ±2,000 sq.ft. suite is available for owner-use or lease-up, offering additional income potential. BUILDING SIZE ±6,600 SF gross LEASED SPACE ±4,600 SF (renovated) AVAILABLE SPACE ±2,000 SF LOT SIZE ±27,007 SF (0.62 acres) ZONING B-2, Highway Business YEAR BUILT 1920; renovated 2025 CONSTRUCTION Wood frame; metal panel, wood & vinyl siding, brick wainscot HVAC Gas forced-air furnaces & central A/C; separate systems per suite PARKING On-site concrete parking, west side; additional land available STORIES One story (leased suite has second-level office area) RESTROOMS Two restrooms (leased suite) ELECTRICAL 150-amp circuit breaker panel TENANT & LEASE SUMMARY Premises ±4,600 SF Lease Commencement October 1, 2025 Lease Term 10 years Current Rent $4,500/month (±$11.74/SF/year), with ~3% annual increases in Years 2–9; $5,600/month in Year 10 Renewal Options Two 5-year options at $6,000/month and $6,500/month Expense Structure Tenant reimburses real estate taxes, insurance, and utilities; landlord maintains structure, mechanical/electrical systems, and exterior common areas Located in Yankton's central business district, an area historically the retail core of the city and now home to a mix of small restaurant/bar, retail, and office tenants. Downtown Yankton benefits from average to above-average visibility and access, with a modest street front vacancy rate and ongoing storefront reinvestment over the past decade. South Dakota imposes no corporate or personal income tax, offering a favorable operating environment for tenants and owners alike.