Corner Storefront With Drive-Up
For Sale
Contact for pricing
1200 S Minnesota Ave, Sioux Falls, SD 57105
C-2-zoned storefront with paved parking, pylon signage, and a north-side drive-up window.
Property Size3,248 SF
Price / SF$306.34
Days on Market10
Property Features for 1200 S Minnesota Ave
General Information
Standard status
Active
Size
3,248 SF
Total Parking Spaces
55
Property subtype
RETAIL
Zoning
C-2
Site & Location
Corner Location
Yes
Drive-Thru
Yes
Pylon Signage
Yes
Building Details
Year Built
1987
Listing Agency:
NAI | Sioux Falls
(605) 310-7091
Listed By:
Ryan Ammann · License #S43616000
Source:
Moodyscre
Added: Aug 12
Changed: Aug 15
Last Checked: Aug 20 at 6:04AM
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 NAI | Sioux Falls
Investment Insights
Based on property information with market context.
This 3,248-square-foot storefront property occupies a corner lot and includes a north-side drive-up window. The site has paved on-site parking with 55 spaces, including accessible spaces, along with pylon signage. Some FF&E is included with the property.
The property is located at 1200 S Minnesota Ave in Sioux Falls, South Dakota. C-2 zoning, established parking, and the existing drive-up feature provide a defined commercial configuration for a storefront user.
The property is located at 1200 S Minnesota Ave in Sioux Falls, South Dakota. C-2 zoning, established parking, and the existing drive-up feature provide a defined commercial configuration for a storefront user.
Key Highlights
- 3,248 SF storefront property on a large corner lot
- 55 paved on‑site parking spaces, including accessible spaces
- North‑side drive‑up window
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$37,651
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.78%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$753,020
$753.0K
Cap Rate 7%
$537,871
$537.9K
Cap Rate 9%
$418,344
$418.3K
Market Conditions
NOI Build-Up for 3,248 SF
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.
Gross rent
$58.5K $18.00/SF
− Vacancy
−$4.7K −$1.44/SF
EGI
$53.8K $16.56/SF
− OpEx
−$16.1K −$4.97/SF
NOI
$37.7K $11.59/SF
Area
Sioux Falls, SD
Vacancy
8.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$753,020
Cap Rate 7%
$537,871
Cap Rate 9%
$418,344
Alternative Uses
Best Use
Retail
$537.9K
$470.6K – $627.5K
NOI $37,651 @ 7.0% cap · market cap 3.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$882.0K
$771.7K – $1.03M
NOI $61,738 @ 7.0% cap · market cap 6.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
478
Businesses Nearby
35k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 71%
Dining 27%
Electronics 2%
Kum & Go
Shops & Services
23,121 visits/mo
0.3 miles
Burger King
Dining
9,588 visits/mo
0.2 miles
U.S. Bank
Shops & Services
1,866 visits/mo
0.4 miles
Cricket Wireless Authorized Retailer
Electronics
741 visits/mo
0.1 miles
Demographics for 57105, SD
22,635
Population
10,550
Households
2.1
Avg Household Size
36
Median Age
44%
College-Educated
97%
High-School Grad
7.5 sq mi
ZIP Area
3,018
Density / Sq Mi
$74,066
Median Household Income
$43,271
Median Earnings
$956
Median Rent
$247,900
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Storefront property - C-2-zoned storefront with paved parking, pylon signage, and a north-side drive-up window.
Where is this storefront property located?
The property is located at 1200 S Minnesota Ave 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: 3,248 SF storefront property on a large corner lot; 55 paved on‑site parking spaces, including accessible spaces; North‑side drive‑up window
