Neighborhood Shopping
For Sale
$5,163,420
1901 Hamilton Blvd, Sioux City, IA 51104
Two-building retail property with service-oriented tenants, multiple access points, pylon signage, and on-site surface parking.
Property Size39,200 SF
Lot Size2.26 Acres
Price / SF$131.72
Days on Market150
Property Features for 1901 Hamilton Blvd
General Information
Standard status
Active
Size
39,200 SF
Total Parking Spaces
150
Lot size
2.26 Acres
Property subtype
Shopping Strip
Occupancy
100%
Financials
Asking Price
$5,163,420
Cap Rate
8%
Site & Location
Corner Location
Yes
Pylon Signage
Yes
Anchor Co-Tenants
Tires Tires Tires
Traffic Count
31,000 vehicles/day
Road Access
Yes
Amenities
Premier Neighborhood Retail Center
Outstanding Access & Visibility at Signalized Hard Corner With More Than 31,000 Vehicles Per Day
E-Commerce Resistant, Service Based Tenant Lineup
Building Details
Building Size
39,200 SF
Year Built
2003
Buildings
2
Tenancy
Multi
Listing Agency:
(952) 852-9700
Listed By:
Jon Ruzicka · License #License(s) IA: B63379000
(952) 852-9700
Source:
Marcusmillichap
Added: Apr 3
Changed: Aug 29
Last Checked: Aug 29 at 5:16PM
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 Jon Ruzicka
Investment Insights
Based on property information with market context.
Hamilton Center is a 39,200-square-foot neighborhood shopping center comprising two buildings on a 2.26-acre site. Constructed in 2003, the property is 100 percent occupied and includes Vision Care Clinic, Wingstop, Grind Fitness, 5 Star Nails, and Tires Tires Tires. The center is positioned at a signalized intersection along Hamilton Boulevard and offers five access points, two pylon signs, and 150 surface parking spaces distributed at the front and rear.
The property sits between a Hy-Vee grocery-anchored center and Walgreens, with nearby retailers including Bomgaars, Petco, Taco Bell, and Starbucks. Hard Rock Hotel & Casino is also nearby and attracts approximately 1.8 million visitors annually. The surrounding five-mile area includes more than 100,000 residents, average household incomes exceeding $75,000, and daily traffic exposure of over 31,000 vehicles.
The property sits between a Hy-Vee grocery-anchored center and Walgreens, with nearby retailers including Bomgaars, Petco, Taco Bell, and Starbucks. Hard Rock Hotel & Casino is also nearby and attracts approximately 1.8 million visitors annually. The surrounding five-mile area includes more than 100,000 residents, average household incomes exceeding $75,000, and daily traffic exposure of over 31,000 vehicles.
Key Highlights
- 39,200‑square‑foot shopping center on a 2.26‑acre site
- 100 percent occupied with five identified retail and service tenants
- Two buildings constructed in 2003
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
$388,921
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
7.53%
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%
$7,778,420
$7.8M
Cap Rate 7%
$5,556,014
$5.6M
Cap Rate 9%
$4,321,344
$4.3M
Market Conditions
NOI Build-Up for 39,200 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
$606.8K $15.48/SF
− Vacancy
−$51.2K −$1.31/SF
EGI
$555.6K $14.17/SF
− OpEx
−$166.7K −$4.25/SF
NOI
$388.9K $9.92/SF
Area
Woodbury County, IA
Vacancy
8.44%
Lease Rate
$15.48 /SF/Yr
Expense Ratio
30.00%
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%
$7,778,420
Cap Rate 7%
$5,556,014
Cap Rate 9%
$4,321,344
Alternative Uses
Best Use
Retail
$5.56M
$4.86M – $6.48M
NOI $388,921 @ 7.0% cap · market cap 7.53%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.89M
$5.15M – $6.87M
NOI $412,335 @ 7.0% cap · market cap 7.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
31,000 VPD
Traffic count
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
536
Businesses Nearby
Balanced
Demand for This Use
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 Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Shopping center - Two-building retail property with service-oriented tenants, multiple access points, pylon signage, and on-site surface parking.
Where is this shopping center located?
The property is located at 1901 Hamilton Blvd Sioux City, IA.
What is the asking price?
The asking price for this property is $5,163,420.
What are key features of this property?
This property features: 39,200‑square‑foot shopping center on a 2.26‑acre site; 100 percent occupied with five identified retail and service tenants; Two buildings constructed in 2003
