1005 S GLASS ST Sioux City, IA 51106
1005 S GLASS ST, Sioux City, IA, 51106
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For Sale
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Apartment buildings
Property Size5,610 SF
Price / SF$112.30
Days on Market18
Property Features for 1005 S GLASS ST
General Information
- Standard status
- Active
- Size
- 5,610 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1962
Listing Agency
Gateway Real Estate Advisors
Listed by
Nic Madsen · License #21571
Source
Crexi
Added: Jul 1 Checked: Jul 17 at 12:47 pm
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Gateway Real Estate Advisors
Investment Insights
Based on property information with market context.
Key Highlights
- 7‑unit apartment building at 1005 S Glass Street, Sioux City, IA; 100% occupied
- In‑place 6.00% cap rate with approximately $38,000 NOI
- Average in‑place rents of about $800/month remain below reported market rent of $946/month
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $75.4k | $13.44 |
| − Vacancy | −$3.8k | −$0.67 |
| EGI | $71.6k | $12.77 |
| − OpEx | −$32.2k | −$5.75 |
| NOI | $39.4k | $7.02 |
5,610 SF · lease $13.44/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$562.8K
$492.5K – $656.6K
NOI $39,396 @ 7.0% cap · market cap 6.25%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$843.0K
$737.6K – $983.5K
NOI $59,010 @ 7.0% cap · market cap 9.37%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
Where is this apartment building located?
The property is located at 1005 S GLASS ST Sioux City, IA.
What is the asking price?
The asking price for this property is $630,000.
What are key features of this property?
This property features: 7‑unit apartment building at 1005 S Glass Street, Sioux City, IA; 100% occupied; In‑place 6.00% cap rate with approximately $38,000 NOI; Average in‑place rents of about $800/month remain below reported market rent of $946/month
