Office Building with Available
New
For Sale
$1,100,000
2928 Hamilton Blvd, Sioux City, IA 51104
Two occupied levels are complemented by additional office space that can serve an owner-user or be leased to another office tenant.
Property Size9,944 SF
Days on Market4
Property Features for 2928 Hamilton Blvd
General Information
Standard status
Active
Size
9,944 SF
Class
B
Property subtype
Office
Building Details
Building Size
9,944 SF
Year Built
1973
Buildings
1
Tenancy
Multi
Listed By:
Beau Braunger, SIOR, CCIM
(712) 251-8276
Source:
Naiunited
Added: Oct 4
Changed: Oct 5
Last Checked: Oct 7 at 10:06AM
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 Beau Braunger, SIOR, CCIM
Investment Insights
Based on property information with market context.
Office Building E at 2928 Hamilton Blvd in Sioux City was built in 1973. Family 1st Dental occupies the upper level, and Wheatley Endodontics occupies the lower level. At closing, Wheatley Endodontics is to enter a five-year lease. An additional 2,200 SF of office space is available for owner use or lease to another office user.
The property has a pro forma cap rate of 7.84%.
The property has a pro forma cap rate of 7.84%.
Key Highlights
- 2,200 SF of additional office space for an owner‑user or another office tenant
- Upper level occupied by Family 1st Dental
- Lower level occupied by Wheatley Endodontics, with a five‑year lease to be executed at closing
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$68,912
Cap Rate
6.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,378,240
$1.4M
Cap Rate 7%
$984,457
$984.5K
Cap Rate 9%
$765,689
$765.7K
Market Conditions
NOI Build-Up for 9,944 SF
Gross rent
$131.3K $13.20/SF
− Vacancy
−$16.4K −$1.65/SF
EGI
$114.9K $11.55/SF
− OpEx
−$45.9K −$4.62/SF
NOI
$68.9K $6.93/SF
Area
Woodbury County, IA
Vacancy
12.50%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,378,240
Cap Rate 7%
$984,457
Cap Rate 9%
$765,689
Alternative Uses
Best Use
Healthcare Medical
$984.5K
$861.4K – $1.15M
NOI $68,912 @ 7.0% cap · market cap 6.26%
Second Best
Office B
$718.8K
$629.0K – $838.7K
NOI $50,319 @ 7.0% cap · market cap 4.57%
Theoretical Best
Specialty Retail
$1.49M
$1.31M – $1.74M
NOI $104,598 @ 7.0% cap · market cap 9.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
422
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office building - Two occupied levels are complemented by additional office space that can serve an owner-user or be leased to another office tenant.
Where is this office building located?
The property is located at 2928 Hamilton Blvd Sioux City, IA.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 2,200 SF of additional office space for an owner‑user or another office tenant; Upper level occupied by Family 1st Dental; Lower level occupied by Wheatley Endodontics, with a five‑year lease to be executed at closing
