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

    923 Douglas St Sioux City, IA 51105

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,461,500

    Studio apartments near downtown Sioux City with assumable loan.

    Property size:
    18,032 SF

    Property Features for 923 Douglas St

    General Information

    Standard status
    Active
    Size
    18,032 SF

    We can help!

    Listing Contact
    Mark Seger
    Source: Cbre

    Listing Agent: Mark Seger

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Sioux City Studio Apartment Building

    This property consists of studio units with an average size of 415 square feet. Sixty-four percent of the units have been renovated over the last three years. The building, constructed in 1925, has a total size of 18,032 square feet. A recent upgrade has been made to the boiler, and the roof is under 10 years old. A dedicated laundry room is available. The property includes a 24-car parking lot with additional street parking. The property is located near downtown Sioux City, close to many amenities and services. The zoning is NC-5, allowing for single- and multi-family use. The legal description is SIOUX CITY EAST LOT 12 BLK 49. The 2023 taxes were $21,374. An assumable loan at 3.6% with 4 years remaining is available.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Sioux City
    County
    Woodbury
    State
    Iowa
    Longitude
    -96.406877
    Latitude
    42.500519

    Nearby Similar for Sale

    • $700,000
      8,136 SF

      Prime Corner Location in Sioux City

      Two-story commercial building in a vibrant entertainment district.
      501 Pearl St, Sioux City, IA 51101
      View Details
    • $499,000
      4,875 SF

      Renovated Office Building with Mural

      Three-story office building with recent renovations and impressive mural.
      501 Douglas St, Sioux City, IA 51101
      View Details
    • $550,000
      0.09 Acres

      Turnkey Investment Opportunity in Iowa

      Fully leased commercial spaces with long-term tenants in Sioux City.
      1923 Pierce St, Sioux City, IA 51104
      View Details
    • $650,000
      0.17 Acres

      Sioux City Investment Opportunity

      Versatile commercial property with multiple revenue streams in Sioux City.
      413-15 Nebraska St, Sioux City, IA 51101
      View Details
    • $399,000
      0.41 Acres

      Sioux City Commercial Property For Sale

      Well-located commercial property with proven rental income in Sioux City.
      4242 Gordon Dr, Sioux City, IA 51106
      View Details
    • $479,000
      0.52 Acres

      Spacious Commercial Building in Sioux City

      Well-equipped commercial building with offices, conference rooms, and gymnasium.
      1221 Pierce St, Sioux City, IA 51105
      View Details
    • $315,000
      0.23 Acres

      Corner Lot Office Building

      Prime office building with modern updates and private parking.
      623 Jackson St, Sioux City, IA 51101
      View Details
    • $2,450,000
      0.86 Acres

      Retail Center on High-Traffic Corner

      Multi-tenant retail center with strong tenant mix in Sioux City.
      2800-2830 Hamilton Blvd, Sioux City, IA 51104
      View Details
    • $430,000
      0.17 Acres

      Downtown Sioux City Investment Property

      Fully leased commercial building in downtown Sioux City, Iowa.
      421 Nebraska St, Sioux City, IA 51101
      View Details
    • $850,000
      17,200 SF

      Downtown Sioux City Retail Spaces

      Eight retail spaces at 5th and Nebraska in Sioux City.
      500 Nebraska St, Sioux City, IA 51101
      View Details
    • $1,200,000
      22,500 SF

      Downtown Sioux City Office Building

      Three-story commercial building in downtown Sioux City with parking.
      820 Pierce St, Sioux City, IA 51101
      View Details
    • $375,000
      4,800 SF

      Mixed-Use Property in Sioux City

      Retail space plus four apartments in Sioux City, Iowa.
      4001 Floyd Blvd, Sioux City, IA 51108
      View Details

    FAQs

    What type of property is this?
    Apartment building - Studio apartments near downtown Sioux City with assumable loan.
    Where is this apartment building located?
    The property is located at 923 Douglas St Sioux City, IA.
    What is the asking price?
    The asking price for this property is $1,461,500.
    What are key features of this property?
    This property features: - 3.6% assumable loan with 4 years left; - 64% of units have been renovated over the last three years; - Located near downtown Sioux City close to many amenities and services
    Request Owner's contact information
    923 Douglas St Sioux City, IA 51105
    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.
    923 Douglas St
    Sioux City, IA 51105
    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
    923 Douglas St Sioux City, IA 51105
    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

    We can help!
    Listing Contact
    Mark Seger
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!