Sioux Falls Office
For Sale
Contact for pricing
112 S Dakota Ave, Sioux Falls, SD
Updated office building with heated parking garage and surface parking.
Property Size6,800 SF
Lot Size0.51 Acres
Price / SF$319.85
Days on Market497
Property Features for 112 S Dakota Ave
General Information
Standard status
Active
Size
6,800 SF
Lot size
0.51 Acres
Property subtype
OFFICE
Site & Location
Neighborhood
Downtown
Listing Agency:
Lloyd Companies - Corporate
(605) 323-2820
Listed By:
Kristen Zueger, SIOR
(605) 376-1903
Source:
Moodyscre
Added: Jun 16, 2025
Changed: Oct 13
Last Checked: Oct 24 at 7:51PM
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
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Review the available facts, identify missing information and prepare questions for the agent.
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
Estimated NOI and Cap Rate
NOI / Yr
$91,035
Cap Rate
4.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,820,700
$1.8M
Cap Rate 7%
$1,300,500
$1.3M
Cap Rate 9%
$1,011,500
$1.0M
Market Conditions
NOI Build-Up for 6,800 SF
Gross rent
$142.8K $21.00/SF
− Vacancy
−$21.4K −$3.15/SF
EGI
$121.4K $17.85/SF
− OpEx
−$30.3K −$4.46/SF
NOI
$91.0K $13.39/SF
Area
Sioux Falls, SD
Vacancy
15.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,820,700
Cap Rate 7%
$1,300,500
Cap Rate 9%
$1,011,500
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 authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,595
Businesses Nearby
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Business Placement
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
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.
