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 Market800
Property Features for 114 S Reid St
General Information
Standard status
Active
Size
3,109 SF
Property subtype
INDUSTRIAL
Site & Location
Neighborhood
East Bank
Building Details
Year Built
1910
Stories
2
Construction
brick
Listing Agency:
Bender Commercial
(605) 336-7600
Listed By:
Nick Gustafson · License #12071
(605) 201-2809
Source:
Moodyscre
Added: Aug 23, 2024
Changed: Oct 26
Last Checked: Oct 30 at 4:03PM
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
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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
Estimated NOI and Cap Rate
NOI / Yr
$31,913
Cap Rate
3.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$638,260
$638.3K
Cap Rate 7%
$455,900
$455.9K
Cap Rate 9%
$354,589
$354.6K
Market Conditions
NOI Build-Up for 3,109 SF
Gross rent
$52.2K $16.80/SF
− Vacancy
−$3.1K −$1.01/SF
EGI
$49.1K $15.79/SF
− OpEx
−$17.2K −$5.53/SF
NOI
$31.9K $10.26/SF
Area
Sioux Falls, SD
Vacancy
6.00%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$638,260
Cap Rate 7%
$455,900
Cap Rate 9%
$354,589
Alternative Uses
Best Use
Flex RnD
$455.9K
$398.9K – $531.9K
NOI $31,913 @ 7.0% cap · market cap 3.57%
Second Best
Industrial
$303.6K
$265.7K – $354.3K
NOI $21,255 @ 7.0% cap · market cap 2.37%
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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,684
Businesses Nearby
Balanced
Demand for This Use
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
Similar Off Market Nearby
- Myers' Elite Catering — 221 S Phillips Ave, Sioux Falls, SD 57104
- Vespa Catering — 322 E 8th St, Sioux Falls, SD 57103
- En Place Catering — 818 E 8th St Ste 3, Sioux Falls, SD 57103
- CBM Correctional Food Services — 500 N Minnesota Ave, Sioux Falls, SD 57104
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
