44-Unit Townhome Apartment
For Sale
$4,950,000
1600 26th St #ET AL, Sioux City, IA 51104
Two-site offering includes unfinished basements and an adjacent vacant lot.
Property Size44,256 SF
Days on Market308
Property Features for 1600 26th St #ET AL
General Information
Standard status
Active
Size
44,256 SF
Property subtype
Multi-Family
Units
Unit Mix
16 x 2BR, 20 x 3BR, 8 x 2BR
Multifamily Units
44
Building Details
Building Size
44,256 SF
Year Built
1953
Listing Agency:
Plains Asset Group
(712) 539-0990
Listed By:
Jamie Friedel
(712) 539-0990
Source:
Markhanson.kw
Added: Oct 27, 2025
Changed: Aug 28
Last Checked: Aug 29 at 5:46AM
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 Plains Asset Group
Investment Insights
Based on property information with market context.
This apartment building portfolio comprises 44 townhomes across two Sioux City sites. The first location includes 16 two-bedroom units and an adjoining vacant parcel. The second contains 28 residences, with a mix of 20 three-bedroom and eight two-bedroom townhomes. The properties were built in 1953 and are offered together as one package.
Basements at the second site are unfinished, providing additional interior space for future completion. The portfolio includes properties along 26th Street, with the first group at 1200–1230 26th Street and the second at 1510–1623 26th Street. The combined offering provides a defined unit mix across two established townhome locations.
Basements at the second site are unfinished, providing additional interior space for future completion. The portfolio includes properties along 26th Street, with the first group at 1200–1230 26th Street and the second at 1510–1623 26th Street. The combined offering provides a defined unit mix across two established townhome locations.
Key Highlights
- 44 townhomes offered together as one package
- 16 two‑bedroom townhomes at 1200–1230 26th Street
- 28 townhomes at 1510–1623 26th Street
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
$310,783
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
6.28%
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%
$6,215,660
$6.2M
Cap Rate 7%
$4,439,757
$4.4M
Cap Rate 9%
$3,453,144
$3.5M
Market Conditions
NOI Build-Up for 44,256 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
$594.8K $13.44/SF
− Vacancy
−$29.7K −$0.67/SF
EGI
$565.1K $12.77/SF
− OpEx
−$254.3K −$5.75/SF
NOI
$310.8K $7.02/SF
Area
Woodbury County, IA
Vacancy
5.00%
Lease Rate
$13.44 /SF/Yr
Expense Ratio
45.00%
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%
$6,215,660
Cap Rate 7%
$4,439,757
Cap Rate 9%
$3,453,144
Alternative Uses
Best Use
Apartment 5plus
$4.44M
$3.88M – $5.18M
NOI $310,783 @ 7.0% cap · market cap 6.28%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$6.65M
$5.82M – $7.76M
NOI $465,518 @ 7.0% cap · market cap 9.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
44
Residential units
Location Intelligence
Trade Area within ½ mile
190
Businesses Nearby
Explore this area
Business Placement
Demographics for 51104, IA
23,080
Population
9,119
Households
2.5
Avg Household Size
35
Median Age
28%
College-Educated
89%
High-School Grad
7.5 sq mi
ZIP Area
3,077
Density / Sq Mi
$74,984
Median Household Income
$42,411
Median Earnings
$955
Median Rent
$193,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Two-site offering includes unfinished basements and an adjacent vacant lot.
Where is this apartment building located?
The property is located at 1600 26th St #ET AL Sioux City, IA.
What is the asking price?
The asking price for this property is $4,950,000.
What are key features of this property?
This property features: 44 townhomes offered together as one package; 16 two‑bedroom townhomes at 1200–1230 26th Street; 28 townhomes at 1510–1623 26th Street
