Multi-Purpose Facility Near Convention
1605 W Burnside St, Sioux Falls, SD 57104
For Sale
Contact for pricing
Investment opportunity: 14,000 SF mixed-use property near Denny Sanford Center.
Property Size13,536 SF
Lot Size2.61 Acres
Price / SF$192.08
Days on Market289
Property Features for 1605 W Burnside St
General Information
Standard status
Size
Class
Lot size
Property subtype
Zoning
Building Details
Year Built
Stories
Listing Agency:
Jim Dunham & Associates
Listed By:
Jim Dunham · License SD #4531
(605) 987-4186
Source:
Crexi
Added: Jan 26
Changed: Oct 26
Last Checked: Nov 10 at 9:15AM
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 Jim Dunham & Associates
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Investment Insights
Based on property information with market context.
This multi-purpose facility is located near the intersection of Western Avenue and Burnside Street, approximately 4 blocks from the Denny Sanford Center and Sioux Falls Convention Center. Constructed in 2001, the property offers 14,000 square feet of space suitable for office, retail, or institutional use. The property is being sold as an investment opportunity, with the current tenant having over 5 years of firm term remaining on their lease agreement. The sale price represents a 7% capitalization rate. The sale price represents a value of $186 per square foot. The land area is 2.61 acres, equivalent to 113,620 square feet. An adjacent 1.4 acres, or 60,984 square feet, is also available for sale. A cross-easement agreement for access will be filed if the subject property and adjacent property are not sold to the same party.
Key Highlights
- Investment opportunity with over 5 years remaining on the current tenant's lease.
- 7% capitalization rate.
- Located near the Denny Sanford Center and Sioux Falls Convention Center.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$164,462
Cap Rate
6.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,289,240
$3.3M
Cap Rate 7%
$2,349,457
$2.3M
Cap Rate 9%
$1,827,356
$1.8M
Market Conditions
NOI Build-Up for 13,536 SF
Gross rent
$292.4K $21.60/SF
− Vacancy
−$29.2K −$2.16/SF
EGI
$263.1K $19.44/SF
− OpEx
−$98.7K −$7.29/SF
NOI
$164.5K $12.15/SF
Area
Sioux Falls, SD
Vacancy
10.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,289,240
Cap Rate 7%
$2,349,457
Cap Rate 9%
$1,827,356
Alternative Uses
Best Use
Mixed Use
$2.35M
$2.06M – $2.74M
NOI $164,462 @ 7.0% cap · market cap 6.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.68M
$3.22M – $4.29M
NOI $257,292 @ 7.0% cap · market cap 9.90%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
465
Businesses Nearby
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Investment opportunity: 14,000 SF mixed-use property near Denny Sanford Center.
Where is this mixed-use property located?
The property is located at 1605 W Burnside St Sioux Falls, SD.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: Investment opportunity with over 5 years remaining on the current tenant's lease.; 7% capitalization rate.; Located near the Denny Sanford Center and Sioux Falls Convention Center.
