Two-Story Mixed-Use
For Sale
$700,000
501 Pearl Street, Sioux City, IA 51101
Commercial, Sioux City, IA
Property Size8,136 SF
Lot Size0.09 Acres
Price / SF$86.04
Days on Market167
Property Features for 501 Pearl Street
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
Downtown
Standard status
Active
APN
894728306013
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
SIOUX CITY EAST LOT 7 (EX PT BEG AT SW COR THNC N 50.48 FT, THNC E 75.96 FT, THNC S 16.63 FT, THNC W 10.25 FT, THNC S 33.84 FT, THNC W 65.68 FT TO POB) BLK 7
Tax Annual Amount
3998
Legal Description
SIOUX CITY EAST LOT 7 (EX PT BEG AT SW COR THNC N 50.48 FT, THNC E 75.96 FT, THNC S 16.63 FT, THNC W 10.25 FT, THNC S 33.84 FT, THNC W 65.68 FT TO POB) BLK 7
Amenities
tall ceilings
stunning views
Building Details
Year built
1900
Listing Agency:
Century 21 ProLink
(712) 224-2300
Listed By:
KJ Wingert · License #S69502000
(712) 251-9905
Added: Mar 23
Changed: Sep 2
Last Checked: Sep 5 at 10:06PM
MLS# 832204
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.
Located at 501 Pearl Street in Sioux City’s entertainment district, this two-story mixed-use property provides 4,068 square feet on each floor. Tall ceilings, large second-floor windows, and downtown views add distinct character, while full basements on both sides provide additional functional space. The layout can be adapted for office, bar or restaurant, retail, or mixed-use concepts and can be divided into two separate units.
The corner site sits along a primary corridor near bars, restaurants, and nightlife, with a public parking ramp positioned kitty-corner from the property. Three-phase power and substantial electrical capacity support operations with significant power requirements. Built in 1900, the property offers a flexible configuration for an owner-user or an investor seeking separate leasing areas.
The corner site sits along a primary corridor near bars, restaurants, and nightlife, with a public parking ramp positioned kitty-corner from the property. Three-phase power and substantial electrical capacity support operations with significant power requirements. Built in 1900, the property offers a flexible configuration for an owner-user or an investor seeking separate leasing areas.
Key Highlights
- 4,068 square feet on each of two floors
- Full basement space on each side of the building
- Two‑unit configuration supports separate leasing or occupancy
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
$61,401
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
8.77%
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%
$1,228,020
$1.2M
Cap Rate 7%
$877,157
$877.2K
Cap Rate 9%
$682,233
$682.2K
Market Conditions
NOI Build-Up for 8,136 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
$122.0K $15.00/SF
− Vacancy
−$23.8K −$2.93/SF
EGI
$98.2K $12.08/SF
− OpEx
−$36.8K −$4.53/SF
NOI
$61.4K $7.55/SF
Area
Woodbury County, IA
Vacancy
19.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
37.50%
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%
$1,228,020
Cap Rate 7%
$877,157
Cap Rate 9%
$682,233
Alternative Uses
Best Use
Mixed Use
$877.2K
$767.5K – $1.02M
NOI $61,401 @ 7.0% cap · market cap 8.77%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.22M
$1.07M – $1.43M
NOI $85,581 @ 7.0% cap · market cap 12.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,205
Businesses Nearby
Explore this area
Business Placement
Demographics for 51101, IA
1,146
Population
723
Households
1.6
Avg Household Size
39
Median Age
11%
College-Educated
84%
High-School Grad
1.2 sq mi
ZIP Area
955
Density / Sq Mi
$18,103
Median Household Income
$25,661
Median Earnings
$676
Median Rent
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Corner property with tall ceilings, full basements, and three-phase power.
Where is this mixed-use property located?
The property is located at 501 Pearl Street Sioux City, IA.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: 4,068 square feet on each of two floors; Full basement space on each side of the building; Two‑unit configuration supports separate leasing or occupancy
