Add Listing
    For Sale
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    208 W 37th St Sioux Falls, SD

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Medical office building with exam rooms and updated infrastructure.

    Type:OFFICE
    Property size:
    6,858 SF
    Lot size:
    0.58 Acres
    Price / SF:
    $204/SF
    Added:
    Mar 21, 2025
    Days on Market:
    407
    Last Refresh:
    Apr 5 at 10:56 pm

    Property Features for 208 W 37th St

    General Information

    Standard status
    Active
    Size
    6,858 SF
    Lot size
    0.58 Acres
    Property subtype
    OFFICE

    We can help!

    Listing Contact
    Rob Fagnan
    Rob Fagnan

    Listing agent Rob Fagnan

    Listing office Bender Commercial

    Listing date Mar 21, 2025

    Source Moodyscre

    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

    Overview

    Sioux Falls Medical Office

    This property is a medical office building featuring a main level with 4,743 square feet and a lower level with 1,349 square feet, totaling 6,858 square feet. The main level includes a reception and waiting area, eleven exam rooms, two private offices, an X-ray room, work areas, and a breakroom. The lower level contains a locker room, a restroom with a shower, a meeting room, laundry facilities, and storage space. Infrastructure updates include a new parking lot in 2023 and a new roof in 2014. General casework and exam room furniture is negotiable.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Burkhart Kay Dental Office Dakota Dental Dental Office Kappenman Timothy J ... Dental Office Dr. Anlee M. ... Dental Office Schmidt Cloie Dental Office

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • All City Pet Care Veterinary Emergency Hospital — 3508 S Minnesota Ave STE 102, Sioux Falls, SD 57105
    • All City Pet Care South: Heitmann Jeff DVM — 3508 S Minnesota Ave STE 102, Sioux Falls, SD 57105
    • Carlson Heather DVM — 3508 S Minnesota Ave STE 102, Sioux Falls, SD 57105
    • Heyden Jillian DVM — 3209 S Summit Ave, Sioux Falls, SD 57105
    • Windhorse Veterinary Acupuncture — 3500 S Minnesota Ave Unit 102, Sioux Falls, SD 57105

    Location Insight

    • Map
    • Local Demand
    City
    Sioux Falls
    County
    Lincoln
    State
    South Dakota
    Longitude
    -96.7285
    Latitude
    43.5188

    Nearby Similar for Sale

    • $2,600,000
      14,368 SF

      Historic Office Building Near Downtown

      Historic Sioux Falls office building with ample parking.
      335 N Main Ave, Sioux Falls, SD 57104
      View Details
    • $1,198,400
      2,942 SF

      Sioux Falls Executive Office Space

      Prime office space with golf course frontage in Sioux Falls.
      600 E TAN TARA Cir, Sioux Falls, SD 57108
      View Details
    • $685,000
      5,200 SF

      Sioux Falls Four-Plex Townhomes

      Immaculately maintained four-plex in a desirable Sioux Falls location.
      2800 E Madison St, Sioux Falls, SD 57103
      View Details
    • $675,000
      5,832 SF

      Sioux Falls 6-Plex Investment

      Well-maintained 6-plex in central Sioux Falls with income potential.
      1011 S 2nd Ave, Sioux Falls, SD 57105-0849
      View Details
    • $650,000
      4,260 SF

      Well-Maintained Sioux Falls Fourplex

      Southeastern Sioux Falls fourplex with garages, fully leased.
      3005 S Cliff Ave, Sioux Falls, SD 57105
      View Details
    • $409,900
      2,729 SF

      Sioux Falls Fourplex For Sale

      Four-unit building with recent renovations and new roof.
      201 N French Ave, Sioux Falls, SD 57103-1357
      View Details
    • $370,000
      2,431 SF

      Sioux Falls Multifamily Investment Property

      Multifamily property with updated features and large backyard.
      5100 W 47 St, Sioux Falls, SD 57106
      View Details
    • $1,300
      850 SF

      Sioux Falls Office Space

      Office space near downtown Sioux Falls with reception and offices.
      120 S Indiana Ave, Sioux Falls, SD 57104
      View Details
    • $309,900
      2,478 SF

      Sioux Falls Duplex Investment Opportunity

      Well-maintained duplex near downtown Sioux Falls, ideal for investors.
      1012 W 8th St St E, Sioux Falls, SD 57104
      View Details
    • $1,500,000
      18,296 SF

      Sioux Falls Showroom with Visibility

      Highly visible showroom on E 10th St with ample parking.
      2715 E 10th St, Sioux Falls, SD 57103
      View Details
    • $324,900
      2,000 SF

      Sioux Falls Duplex Investment Opportunity

      Well-maintained duplex in Sioux Falls with immediate cash flow.
      202 N French Ave, Sioux Falls, SD 57103-1329
      View Details
    • $1,700

      Sioux Falls Office Space

      Office space close to downtown Sioux Falls with shared amenities.
      120 S Indiana Ave, Sioux Falls, SD 57104
      View Details

    FAQs

    What type of property is this?
    Medical Office Space - Medical office building with exam rooms and updated infrastructure.
    Where is this medical office space located?
    The property is located at 208 W 37th St Sioux Falls, SD.
    What is the asking price?
    The asking price for this property is $1,400,000.
    What are key features of this property?
    This property features: Large main level (4,743 SF) with **11 exam rooms suitable for medical practice.**; **New parking lot (2023).**; Lower level (1,349 SF) with locker room, restroom with shower, meeting room, laundry and storage.
    (605) 336-7600 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Rob Fagnan
    Rob Fagnan
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry

    208 W 37th St, Sioux Falls, SD

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!