Flex Building with Warehouse
New
For Sale
Contact for pricing
1210 East Benson Road, Sioux Falls, SD 57104
Temperature-controlled space combines office, showroom, and warehouse functions.
Property Size11,920 SF
Lot Size1.65 Acres
Price / SF$130.03
Days on Market6
Property Features for 1210 East Benson Road
General Information
Standard status
Active
Size
11,920 SF
Lot size
1.65 Acres
Property subtype
Industrial
Zoning
I-1 (Light Industrial)
Site & Location
Highway Access
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Clear Height
14 ft
Dock-High Doors
1
Conditioned Warehouse
Yes
Building Details
Year Built
1990
Year Renovated
2015
Listing Agency:
Bender Commercial
(605) 940-0559
Listed By:
Rob Kurtenbach · License #SD 17567
Source:
Crexi
Added: Aug 11
Changed: Aug 15
Last Checked: Aug 15 at 8:26AM
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 11,920-square-foot flex building combines reception, showroom, private offices, restrooms, a breakroom, and warehouse space within a temperature-controlled facility. The property includes two 12-foot overhead doors, two additional overhead doors covered from the interior, and one dock door. The building was constructed in 1990 and expanded in 2015.
The 71,807-square-foot lot is zoned I-1 Light Industrial and includes additional land for outdoor storage or future expansion. Located at 1210 East Benson Road in Sioux Falls, the property sits near Benson Road and Cliff Avenue with access to I-90 and I-229.
The 71,807-square-foot lot is zoned I-1 Light Industrial and includes additional land for outdoor storage or future expansion. Located at 1210 East Benson Road in Sioux Falls, the property sits near Benson Road and Cliff Avenue with access to I-90 and I-229.
Key Highlights
- 11,920 SF flex building with reception, showroom, office, and warehouse areas
- Two 12' overhead doors, two covered overhead doors, and one dock door
- 14' ceiling height throughout the building
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
$122,356
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
7.89%
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%
$2,447,120
$2.4M
Cap Rate 7%
$1,747,943
$1.7M
Cap Rate 9%
$1,359,511
$1.4M
Market Conditions
NOI Build-Up for 11,920 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
$200.3K $16.80/SF
− Vacancy
−$12.0K −$1.01/SF
EGI
$188.2K $15.79/SF
− OpEx
−$65.9K −$5.53/SF
NOI
$122.4K $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 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%
$2,447,120
Cap Rate 7%
$1,747,943
Cap Rate 9%
$1,359,511
Alternative Uses
Best Use
Flex RnD
$1.75M
$1.53M – $2.04M
NOI $122,356 @ 7.0% cap · market cap 7.89%
Second Best
Warehouse
$1.50M
$1.31M – $1.75M
NOI $104,775 @ 7.0% cap · market cap 6.76%
Theoretical Best
Office A
$3.24M
$2.83M – $3.78M
NOI $226,575 @ 7.0% cap · market cap 14.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
14 ft
Clear height
1
Dock-high doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
373
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 57104, SD
26,998
Population
13,952
Households
1.9
Avg Household Size
37
Median Age
25%
College-Educated
90%
High-School Grad
30.4 sq mi
ZIP Area
888
Density / Sq Mi
$59,161
Median Household Income
$39,101
Median Earnings
$849
Median Rent
$183,700
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Temperature-controlled space combines office, showroom, and warehouse functions.
Where is this flex space located?
The property is located at 1210 East Benson Road Sioux Falls, SD.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: 11,920 SF flex building with reception, showroom, office, and warehouse areas; Two 12' overhead doors, two covered overhead doors, and one dock door; 14' ceiling height throughout the building
