Two-Tenant Mixed-Use
For Sale
$1,750,000
3301 Singing Hills Boulevard, Sioux City, IA 51106
COMMERCIAL - Sioux City, IA
Property Size11,946 SF
Lot Size2,023.00 Acres
Price / SF$146.49
Days on Market506
Property Features for 3301 Singing Hills Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
Mside South
Standard status
Active
APN
884718155001
Lot size
2,023.00 Acres
Taxes and HOA fees
Tax Year
2023
Tax Description
SOUTHGATE 4TH LOT 2
Tax Annual Amount
55478
Legal Description
SOUTHGATE 4TH LOT 2
Building Details
Year built
2001
Listing Agency:
LPT Realty, LLC
(877) 366-2213
Listed By:
Amy Kakacek
(712) 333-1111
Added: Apr 7, 2025
Changed: Aug 19
Last Checked: Aug 25 at 1:06AM
MLS# 828194
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.
Investment Insights
Based on property information with market context.
Built in 2001, this mixed-use property is fully occupied by two tenants across retail and office components. The approximately 4,100-square-foot front retail area has housed a golf shop since 2018, with its five-year renewal exercised in 2023. The rear office component measures approximately 7,857 square feet and has been leased to the Government Services Administration since 2019.
Both occupancies are structured as modified gross leases. The GSA lease runs for 15 years, including seven firm years, while the retail lease has been renewed for five years. The property is located in Sioux City, Iowa, on Singing Hills Boulevard.
Both occupancies are structured as modified gross leases. The GSA lease runs for 15 years, including seven firm years, while the retail lease has been renewed for five years. The property is located in Sioux City, Iowa, on Singing Hills Boulevard.
Key Highlights
- Fully occupied two‑tenant mixed‑use property
- Approximately 4,100 square feet of front retail space
- Approximately 7,857 square feet of rear office space
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$118,522
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.77%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,370,440
$2.4M
Cap Rate 7%
$1,693,171
$1.7M
Cap Rate 9%
$1,316,911
$1.3M
Market Conditions
NOI Build-Up for 11,946 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$184.9K $15.48/SF
− Vacancy
−$15.6K −$1.31/SF
EGI
$169.3K $14.17/SF
− OpEx
−$50.8K −$4.25/SF
NOI
$118.5K $9.92/SF
Area
Woodbury County, IA
Vacancy
8.44%
Lease Rate
$15.48 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,370,440
Cap Rate 7%
$1,693,171
Cap Rate 9%
$1,316,911
Alternative Uses
Best Use
Retail
$1.69M
$1.48M – $1.98M
NOI $118,522 @ 7.0% cap · market cap 6.77%
Second Best
Mixed Use
$1.29M
$1.13M – $1.50M
NOI $90,155 @ 7.0% cap · market cap 5.15%
Theoretical Best
Specialty Retail
$1.80M
$1.57M – $2.09M
NOI $125,657 @ 7.0% cap · market cap 7.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
321
Businesses Nearby
Explore this area
Business Placement
Demographics for 51106, IA
28,655
Population
11,681
Households
2.5
Avg Household Size
35
Median Age
27%
College-Educated
93%
High-School Grad
33.5 sq mi
ZIP Area
855
Density / Sq Mi
$74,486
Median Household Income
$40,495
Median Earnings
$1,080
Median Rent
$186,300
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Fully occupied retail and office asset with two modified gross leases in place.
Where is this mixed-use property located?
The property is located at 3301 Singing Hills Boulevard Sioux City, IA.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Fully occupied two‑tenant mixed‑use property; Approximately 4,100 square feet of front retail space; Approximately 7,857 square feet of rear office space
