Brick Shell Flex and Industrial
For Sale
Contact for pricing
114 S Reid St, Sioux Falls, SD 57103
Stand-alone building with 2-foot thick brick exterior walls and a second floor ready for flexible commercial use.
Property Size3,109 SF
Price / SF$287.87
Days on Market708
Property Features for 114 S Reid St
General Information
Standard status
Active
Size
3,109 SF
Property subtype
INDUSTRIAL
Building Details
Year Built
1910
Stories
2
Construction
brick
Listing Agency:
Bender Commercial
(605) 201-2809
Listed By:
Nick Gustafson · License #12071
(605) 201-2809
Source:
Moodyscre
Added: Aug 23, 2024
Changed: Jul 26
Last Checked: Jul 30 at 1:27PM
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 Bender Commercial
Investment Insights
Based on property information with market context.
This stand-alone building was originally constructed in 1910 as a locomotive boiler repair facility and features impressive 2-foot thick brick exterior walls. The shell design provides flexibility for a range of potential uses and redevelopment. A second floor exists but is not included in the stated square footage, offering additional space that could support living or retail/office concepts, supported by exceptional side wall height.
The property is located just south of 8th & Railroad and the Lumber Exchange Building in Sioux Falls, SD. It sits just west of a planned railyard site development and south of an announced Riverline District, supporting conversations around redevelopment.
The ownership group is open to redevelopment discussions, and a negotiable build-out allowance may be available from the landlord.
The property is located just south of 8th & Railroad and the Lumber Exchange Building in Sioux Falls, SD. It sits just west of a planned railyard site development and south of an announced Riverline District, supporting conversations around redevelopment.
The ownership group is open to redevelopment discussions, and a negotiable build-out allowance may be available from the landlord.
Key Highlights
- Stand‑alone building originally built in 1910 as a locomotive boiler repair facility
- 2‑foot thick brick exterior walls
- Includes a second floor (not included in SF) with exceptional side wall height for potential living, retail, or office use
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 | $65.3k | $21.00 |
| − Vacancy | −$9.8k | −$3.15 |
| EGI | $55.5k | $17.85 |
| − OpEx | −$13.9k | −$4.46 |
| NOI | $41.6k | $13.39 |
3,109 SF · lease $21.00/SF/yr · vacancy 15.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$594.6K
$520.3K – $693.7K
NOI $41,622 @ 7.0% cap · market cap 4.65%
Second Best
Flex RnD
$455.9K
$398.9K – $531.9K
NOI $31,913 @ 7.0% cap · market cap 3.57%
Theoretical Best
Office A
$844.2K
$738.7K – $984.9K
NOI $59,096 @ 7.0% cap · market cap 6.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,684
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 57103, SD
36,069
Population
15,326
Households
2.4
Avg Household Size
37
Median Age
33%
College-Educated
91%
High-School Grad
9.5 sq mi
ZIP Area
3,797
Density / Sq Mi
$73,945
Median Household Income
$43,661
Median Earnings
$938
Median Rent
$244,800
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Similar Off Market Nearby
- Myers' Elite Catering — 221 S Phillips Ave, Sioux Falls, SD 57104
- CBM Correctional Food Services — 500 N Minnesota Ave, Sioux Falls, SD 57104
- En Place Catering — 818 E 8th St Ste 3, Sioux Falls, SD 57103
- Vespa Catering — 322 E 8th St, Sioux Falls, SD 57103
Frequently Asked Questions
What type of property is this?
Flex space - Stand-alone building with 2-foot thick brick exterior walls and a second floor ready for flexible commercial use.
Where is this flex space located?
The property is located at 114 S Reid St Sioux Falls, SD.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: Stand‑alone building originally built in 1910 as a locomotive boiler repair facility; 2‑foot thick brick exterior walls; Includes a second floor (not included in SF) with exceptional side wall height for potential living, retail, or office use
