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    Sioux Falls Flex Space Available Title is generated by Realmo AI

    1609 W 1st St, Sioux Falls, SD

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    Flex space with offices, warehouse, and training room.

    Type:FLEX_R_AND_D
    Property size:
    5,856 SF
    Lot size:
    0.48 Acres
    Price / SF:
    $169/SF
    Added:
    Mar 19, 2025
    Days on Market:
    466
    Last Refresh:
    May 20 at 8:06 pm

    Property Features for 1609 W 1st St

    General Information

    Standard status
    Active
    Size
    5,856 SF
    Lot size
    0.48 Acres
    Property subtype
    FLEX_R_AND_D

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    Jordan Rieffenberger, CCIM, SIOR

    Listing office Lloyd Companies - Corporate

    Listing date Mar 19, 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 Lloyd Companies - Corporate

    HighLights

    • Versatile floor plan featuring 6 offices, conference room, training room, break room, and shop/warehouse.
    • Shop/warehouse includes a large workroom and storage mezzanine.
    • C‑2 zoning allows for a variety of commercial uses.
    • Includes a break room with a full kitchen.
    • Features an 11’x10’ overhead door.
    • Property has been updated since its construction in 1990.

    Overview

    This flex space property, constructed in 1990 and subsequently updated, features a floor plan that includes 6 offices, a conference room, a large training room, and a break room equipped with a full kitchen. It also contains 2 restrooms, 2 storage rooms, and a mechanical room with a sink. The shop/warehouse area includes a large workroom and a small storage mezzanine. An 11’x10’ overhead door provides access to the warehouse. The property is zoned C-2. Real estate taxes for 2024, payable in 2025, are $9,685.44. The property offers a total of 5,856 square feet of space and is located in Sioux Falls, SD.

    Local Financial Insights For Flex RnD

    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 $98.4k $16.80
    − Vacancy −$5.9k −$1.01
    EGI $92.5k $15.79
    − OpEx −$32.4k −$5.53
    NOI $60.1k $10.26
    5,856 SF · lease $16.80/SF/yr · vacancy 6.00% · expense 35.00%

    Alternative Uses

    Best Use
    Flex RnD
    $858.7K
    $751.4K – $1.00M (±1% cap)
    NOI $60,111 @ 7.0% cap · market cap 6.04%
    Second Best
    Warehouse
    $735.3K
    $643.4K – $857.9K (±1% cap)
    NOI $51,473 @ 7.0% cap · market cap 5.17%
    Theoretical Best
    Office A
    $1.59M
    $1.39M – $1.86M (±1% cap)
    NOI $111,311 @ 7.0% cap · market cap 11.19%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Mechanical Sales SD General Contractor Custom Computer Services ... Computer & Electronic Repair

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Building Supply Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Similar Places Nearby

    • 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

    Location Insight

    • Map
    • Local Demand
    City
    Sioux Falls
    County
    Lincoln
    State
    South Dakota
    Longitude
    -96.7505
    Latitude
    43.5572

    FAQs

    What type of property is this?
    Flex space - Flex space with offices, warehouse, and training room.
    Where is this flex space located?
    The property is located at 1609 W 1st St Sioux Falls, SD.
    What is the asking price?
    The asking price for this property is $995,000.
    What are key features of this property?
    This property features: Versatile floor plan featuring 6 offices, conference room, training room, break room, and shop/warehouse.; Shop/warehouse includes a large workroom and storage mezzanine.; C‑2 zoning allows for a variety of commercial uses.
    (605) 323-2820 Call to check price and availability
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