Sioux Falls Office
112 S Dakota Ave Sioux Falls, SD
For Sale
Contact for pricing
Updated office building with heated parking garage and surface parking.
Property Size6,800 SF
Lot Size0.51 Acres
Price / SF$319.85
Days on Market407
Property Features for 112 S Dakota Ave
General Information
- Standard status
- Active
- Size
- 6,800 SF
- Lot size
- 0.51 Acres
- Property subtype
- OFFICE
Listing Agency:
Lloyd Companies - Corporate
(605) 376-1903
Listed By:
Kristen Zueger, SIOR
Source:
Moodyscre
Added: Jun 16, 2025
Changed: Jul 6
Last Checked: Jul 21 at 5:02AM
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 Lloyd Companies - Corporate
Investment Insights
Based on property information with market context.
The property features a main floor with a lobby including a gas fireplace, a reception area, two open office spaces, restrooms, a large executive office, and an expansive executive conference room. The lower level, accessible from the main floor, provides a finished break area, a tech room, an open office area, glass overhead doors for flexible meeting room configurations, and a lounge area. The building includes a large 17,863 square foot indoor heated parking garage with 30 spaces and 45 surface parking stalls. The property presents an opportunity to generate additional income from parking rentals to nearby businesses. Some parking stalls are committed for a period of time. Built in 1966, the property was updated in 1977, 2012, 2014, 2020, and 2024. The property size is 6,800 square feet and is located in Sioux Falls, SD.
Key Highlights
- Large 17,863 SF indoor heated parking garage with 30 spaces.
- Opportunity to generate additional income from parking rentals.
- Tastefully updated in 1977, 2012, 2014, 2020, and 2024.
Financial Insights For Office B
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 | $142.8k | $21.00 |
| − Vacancy | −$21.4k | −$3.15 |
| EGI | $121.4k | $17.85 |
| − OpEx | −$30.3k | −$4.46 |
| NOI | $91.0k | $13.39 |
6,800 SF · lease $21.00/SF/yr · vacancy 15.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.30M
$1.14M – $1.52M
NOI $91,035 @ 7.0% cap · market cap 4.19%
Second Best
Retail
$1.13M
$985.3K – $1.31M
NOI $78,826 @ 7.0% cap · market cap 3.62%
Theoretical Best
Office A
$1.85M
$1.62M – $2.15M
NOI $129,254 @ 7.0% cap · market cap 5.94%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Office buildings
FAQs
What type of property is this?
Office building - Updated office building with heated parking garage and surface parking.
Where is this office building located?
The property is located at 112 S Dakota Ave Sioux Falls, SD.
What is the asking price?
The asking price for this property is $2,175,000.
What are key features of this property?
This property features: Large 17,863 SF indoor heated parking garage with 30 spaces.; Opportunity to generate additional income from parking rentals.; Tastefully updated in 1977, 2012, 2014, 2020, and 2024.
