Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2311-2403 Virginia St Sioux City, IA 51104

    View on Map
    Claim this Listing
    New
    For Sale
    $634,900

    Multi-Unit - Sioux City, IA

    Property size:
    5,478 SF
    Lot size:
    0.59 Acres
    Price / SF:
    $115/SF
    Added:
    Apr 27, 2026
    Days on Market:
    2
    Last Refresh:
    Apr 28 at 12:06 am

    Property Features for 2311-2403 Virginia St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    NC.4
    Parking features
    Driveway, Garage
    Exterior features
    Landscaping, Trees
    Standard status
    Active
    APN
    894721254027
    Size
    5,478 SF
    Lot size
    0.59 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    11380

    Utilities

    Heating system
    Forced Air, Hot Water (Heating)

    Building Details

    Year built
    1929
    Architectural style
    Other

    We can help!

    Listing Contact
    Chon Plascencia

    Listing agent Chon Plascencia

    Listing office Century 21 ProLink 1114 4th Street, Sioux City, IA

    Listing date Apr 27, 2026

    MLS# 832709 Listing URL

    Copyright © 2026 Northwest Iowa Regional Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Sioux City Multi-Unit Investment

    This property features nine townhomes offered as a complete package. The building is fully occupied with month-to-month leases, providing immediate income. Each unit includes a tuck-under stall garage. The property is located near shopping centers, hospitals, parks, and gyms. The unit mix includes eight one-bedroom units and one two-bedroom unit. The property is being offered as-is. The lot size is 0.59 acres. The total building size is 5478 square feet. The zoning is NC.4.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Sioux City
    County
    Woodbury
    State
    Iowa
    Longitude
    -96.39872
    Latitude
    42.514545

    Nearby Similar for Sale

    • $397,500

      Sioux City Commercial Property

      Well-located commercial property with proven rental income and future potential.
      4242 GORDON DR, Sioux City, IA 51106
      View Details
    • $700,000

      Prime Sioux City Commercial Property

      Two-story mixed-use building in a vibrant entertainment district.
      501 Pearl Street, Sioux City, IA 51101
      View Details
    • $550,000

      Turnkey Investment in Sioux City

      Fully leased commercial spaces with long-term tenants and stable income.
      1923 Pierce Street, Sioux City, IA 51104
      View Details
    • $315,000

      Corner Lot Office Building

      Prime office building with modern updates and private parking.
      623 Jackson Street, Sioux City, IA 51101
      View Details
    • $350,000
      400 SF

      Mixed-Use Property with Apartment Income

      Commercial space with four apartments for additional revenue.
      4001 Floyd Blvd, Sioux City, IA 51108
      View Details
    • $2,450,000

      High-Traffic Retail Center For Sale

      Multi-tenant retail center with strong tenant mix in Sioux City.
      2800-2830 Hamilton Blvd., Sioux City, IA 51104
      View Details
    • $850,000
      6,625 SF

      Fully Occupied Multi-Unit Investment

      Thirteen-unit property in Sioux City with immediate cash flow.
      2429-47 Williams Ave., Sioux City, IA 51103
      View Details
    • Contact for pricing

      Sioux City Shopping Center Space

      Regional shopping center with major upgrades planned and suites available.
      5001 Sergeant Road, Sioux City, IA 51106
      View Details
    • $1,200,000

      Downtown Sioux City Office Opportunity

      Three-story commercial building in downtown Sioux City with parking.
      820 PIERCE ST, Sioux City, IA 51101
      View Details
    • $40,000

      Established Smoke and Vape Shop

      Thriving smoke and vape shop business opportunity for sale.
      3148 Singing Hills Blvd, Sioux City, IA 51106
      View Details
    • $2,600,000

      Renovated Hotel Near Sioux Airport

      71-room hotel with recent renovations and expansion potential.
      6166 HARBOR DR, Sioux City, IA 51111
      View Details
    • Contact for pricing

      Sioux City Shopping Center Space

      Regional shopping center with major upgrades planned and suites available.
      5001 Sergeant Road, Sioux City, IA 51106
      View Details

    FAQs

    What type of property is this?
    Apartment building - Nine fully occupied townhomes near amenities, sold as a package.
    Where is this apartment building located?
    The property is located at 2311-2403 Virginia St Sioux City, IA.
    What is the asking price?
    The asking price for this property is $634,900.
    What are key features of this property?
    This property features: Nine townhomes sold as a complete package.; Fully occupied with month‑to‑month rents providing immediate cash flow.; Prime location near shopping, hospitals, parks, and gyms.
    (712) 281-2521
    We can help!
    Listing Contact
    Chon Plascencia
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!