Flex Space with Overhead
For Sale
Contact for pricing
1310 E 39th St N, Sioux Falls, SD 57104
Flex facility with an updated office area, five 14' overhead doors, and a fenced storage yard with security gate.
Property Size12,480 SF
Price / SF$132.21
Days on Market260
Property Features for 1310 E 39th St N
General Information
Standard status
Active
Size
12,480 SF
Property subtype
INDUSTRIAL
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Outdoor Storage
Yes
Additional Details
Three-Phase Power
Yes
Listing Agency:
Bender Commercial
(605) 579-0189
Listed By:
Bradyn Neises · License #16240
(605) 579-0189
Source:
Moodyscre
Added: Nov 24, 2025
Changed: Aug 11
Last Checked: Aug 10 at 7:54AM
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 flex property combines updated office space with a functional shop for light industrial use. The office area includes a reception area, open work area, a conference room, and three private offices. The shop features five 14' overhead doors, floor drains, and mezzanine storage, supported by 3-phase power.
Outside, the property offers a 1.4-acre storage yard with a fence and security gate. Easy access to Cliff Avenue, Benson Road, I-229, and I-90 supports convenient commuting and logistics.
With its mix of office space and overhead-door shop capacity plus yard storage, the property is well suited for businesses that need both customer or administrative space and practical on-site work capabilities.
Outside, the property offers a 1.4-acre storage yard with a fence and security gate. Easy access to Cliff Avenue, Benson Road, I-229, and I-90 supports convenient commuting and logistics.
With its mix of office space and overhead-door shop capacity plus yard storage, the property is well suited for businesses that need both customer or administrative space and practical on-site work capabilities.
Key Highlights
- Updated office with reception, open work area, conference room, and three private offices
- Shop with five 14' overhead doors, floor drains, and mezzanine storage
- 3‑phase power
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
$128,105
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
7.76%
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%
$2,562,100
$2.6M
Cap Rate 7%
$1,830,071
$1.8M
Cap Rate 9%
$1,423,389
$1.4M
Market Conditions
NOI Build-Up for 12,480 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
$209.7K $16.80/SF
− Vacancy
−$12.6K −$1.01/SF
EGI
$197.1K $15.79/SF
− OpEx
−$69.0K −$5.53/SF
NOI
$128.1K $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%
$2,562,100
Cap Rate 7%
$1,830,071
Cap Rate 9%
$1,423,389
Alternative Uses
Best Use
Office B
$2.39M
$2.09M – $2.78M
NOI $167,076 @ 7.0% cap · market cap 10.13%
Second Best
Flex RnD
$1.83M
$1.60M – $2.14M
NOI $128,105 @ 7.0% cap · market cap 7.76%
Theoretical Best
Office A
$3.39M
$2.97M – $3.95M
NOI $237,220 @ 7.0% cap · market cap 14.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
370
Businesses Nearby
Balanced
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 Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Flex facility with an updated office area, five 14' overhead doors, and a fenced storage yard with security gate.
Where is this flex space located?
The property is located at 1310 E 39th St N Sioux Falls, SD.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Updated office with reception, open work area, conference room, and three private offices; Shop with five 14' overhead doors, floor drains, and mezzanine storage; 3‑phase power
