Office Building with Walkout Lower
1737 S Cleveland Ave, Sioux Falls, SD 57103
For Sale
$1,150,000
COMMERCIAL, Sioux Falls, SD
Property Size6,284 SF
Lot Size0.53 Acres
Price / SF$183
Days on Market49
Property Features for 1737 S Cleveland Ave
General Information
Property type
Property subtype
Zoning
Subdivision
Directions
Standard status
APN
Size
Lot size
Additional Details
Property Use
Taxes and HOA fees
Tax Description
Tax Annual Amount
Legal Description
Utilities
Heating system
Cooling system
Amenities
kitchenette
water fountain
washer/dryer hookup
shower
Building Details
Year built
Flooring type
Roof type
Buildings
Listing Agency:
Keller Williams Realty Sioux Falls
Listed By:
Angela Lucid
(605) 275-0555
Added: Sep 25
Changed: Nov 12
Last Checked: Nov 12 at 8:06AM
MLS# 22607480
Copyright © 2026 Realtor Association of the Sioux Empire MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 6,284-square-foot office building, constructed in 1998, has a main floor and a walkout basement. The upper level pairs private offices with open areas, a kitchenette, a water fountain, four sinks and three restrooms. The lower level has its own outside entrance, interior stair access, private offices, a large shared-use area and two bathrooms, including one with a shower and another with a washer and dryer hookup. Laminate, carpet and vinyl flooring are present; the building has central heating and air conditioning.
The property occupies 0.5345 acres at the corner of S Cleveland Ave and 26th St. Access to Interstate 229, 26th St and Southeastern Ave is noted, and on-site parking is provided in two lots, including one reached from the walkout level.
The property occupies 0.5345 acres at the corner of S Cleveland Ave and 26th St. Access to Interstate 229, 26th St and Southeastern Ave is noted, and on-site parking is provided in two lots, including one reached from the walkout level.
Key Highlights
- 6,284‑square‑foot office building on 0.5345 acres
- Built in 1998, with a main level and walkout basement
- Main floor includes private offices, open areas, kitchenette and three restrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$84,127
Cap Rate
7.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,682,540
$1.7M
Cap Rate 7%
$1,201,814
$1.2M
Cap Rate 9%
$934,744
$934.7K
Market Conditions
NOI Build-Up for 6,284 SF
Gross rent
$132.0K $21.00/SF
− Vacancy
−$19.8K −$3.15/SF
EGI
$112.2K $17.85/SF
− OpEx
−$28.0K −$4.46/SF
NOI
$84.1K $13.39/SF
Area
Sioux Falls, SD
Vacancy
15.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,682,540
Cap Rate 7%
$1,201,814
Cap Rate 9%
$934,744
Alternative Uses
Best Use
Office B
$1.20M
$1.05M – $1.40M
NOI $84,127 @ 7.0% cap · market cap 7.32%
Second Best
Healthcare Medical
$1.15M
$1.01M – $1.34M
NOI $80,536 @ 7.0% cap · market cap 7.00%
Theoretical Best
Office A
$1.71M
$1.49M – $1.99M
NOI $119,446 @ 7.0% cap · market cap 10.39%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
296
Businesses Nearby
Explore this area
Business Placement
Demographics for 57103, SD
36,069
Population
15,326
Households
2.4
Avg Household Size
37
Median Age
33%
College-Educated
91%
High-School Grad
9.5 sq mi
ZIP Area
3,797
Density / Sq Mi
$73,945
Median Household Income
$43,661
Median Earnings
$938
Median Rent
$244,800
Median Home Value
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Market
Average Price Trend$/SF for Office buildings in Sioux Falls, SD
Properties on Market for Office buildings in Sioux Falls
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office building - Two levels offer private offices, open work areas, support facilities and independent exterior access to the lower floor.
Where is this office building located?
The property is located at 1737 S Cleveland Ave Sioux Falls, SD.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: 6,284‑square‑foot office building on 0.5345 acres; Built in 1998, with a main level and walkout basement; Main floor includes private offices, open areas, kitchenette and three restrooms
