Four-Quadplex Multifamily
For Sale
$2,150,000
1100 E Elder St, Canton, SD 57013
Four single-level buildings contain two-bedroom units with individual utilities, laundry hookups, and attached garages.
Property Size13,984 SF
Price / SF$153.75
Days on Market76
Property Features for 1100 E Elder St
General Information
Standard status
Active
Size
13,984 SF
Total Parking Spaces
32
Property subtype
Multi-Family
Units
Unit Mix
16 x 2BR/1BA
Multifamily Units
16
Amenities
laundry hookups
Building Details
Year Built
1996
Buildings
4
Listing Agency:
Keller Williams Realty Sioux Falls
(605) 275-0555
Listed By:
John Schutte
Source:
Siouxfallsareahomesearch
Added: Jun 15
Changed: Aug 28
Last Checked: Aug 29 at 10:33AM
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 Keller Williams Realty Sioux Falls
Investment Insights
Based on property information with market context.
Located at 1100 E Elder St in Canton, South Dakota, this multifamily property comprises four quadplex buildings with 16 total units. Each unit offers two bedrooms, one bathroom, laundry hookups, and a single attached garage, with all residences arranged on one level. The property measures 13,984 SF and was built in 1996.
Utilities are separately assigned to each unit and paid by the tenants, while the landlord handles lawn service and snow removal. The site also includes 16 detached garage stalls used for storage or supplemental tenant parking. Exterior siding was replaced in 2023, and several units have received interior paint and new floor coverings. The property is described as highly insulated and efficient to heat and cool, with a current waiting list for prospective tenants.
Utilities are separately assigned to each unit and paid by the tenants, while the landlord handles lawn service and snow removal. The site also includes 16 detached garage stalls used for storage or supplemental tenant parking. Exterior siding was replaced in 2023, and several units have received interior paint and new floor coverings. The property is described as highly insulated and efficient to heat and cool, with a current waiting list for prospective tenants.
Key Highlights
- Four quadplexes with 16 total units
- Each unit includes 2 bedrooms, 1 bathroom, laundry hookups, and a single attached garage
- 13,984 SF multifamily property built in 1996
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
$117,789
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
5.48%
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%
$2,355,780
$2.4M
Cap Rate 7%
$1,682,700
$1.7M
Cap Rate 9%
$1,308,767
$1.3M
Market Conditions
NOI Build-Up for 13,984 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
$176.2K $12.60/SF
− Vacancy
−$7.9K −$0.57/SF
EGI
$168.3K $12.03/SF
− OpEx
−$50.5K −$3.61/SF
NOI
$117.8K $8.42/SF
Area
Lincoln County, SD
Vacancy
4.50%
Lease Rate
$12.60 /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%
$2,355,780
Cap Rate 7%
$1,682,700
Cap Rate 9%
$1,308,767
Alternative Uses
Best Use
Multifamily LT 5
$1.68M
$1.47M – $1.96M
NOI $117,789 @ 7.0% cap · market cap 5.48%
Second Best
Apartment 5plus
$1.55M
$1.36M – $1.81M
NOI $108,754 @ 7.0% cap · market cap 5.06%
Theoretical Best
Office A
$3.10M
$2.72M – $3.62M
NOI $217,311 @ 7.0% cap · market cap 10.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16
Residential units
Location Intelligence
Trade Area within ½ mile
159
Businesses Nearby
Explore this area
Business Placement
Demographics for 57013, SD
4,482
Population
2,064
Households
2.2
Avg Household Size
40
Median Age
20%
College-Educated
91%
High-School Grad
132.7 sq mi
ZIP Area
34
Density / Sq Mi
$77,813
Median Household Income
$43,553
Median Earnings
$704
Median Rent
$224,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four single-level buildings contain two-bedroom units with individual utilities, laundry hookups, and attached garages.
Where is this quadplex located?
The property is located at 1100 E Elder St Canton, SD.
What is the asking price?
The asking price for this property is $2,150,000.
What are key features of this property?
This property features: Four quadplexes with 16 total units; Each unit includes 2 bedrooms, 1 bathroom, laundry hookups, and a single attached garage; 13,984 SF multifamily property built in 1996
