Quadplex with Detached
For Sale
Contact for pricing
301 W 18th St, Sioux Falls, SD 57105
Four-unit income property with coin-operated laundry and a three-stall detached garage in a historic district.
Property Size3,888 SF
Price / SF$128.60
Days on Market156
Property Features for 301 W 18th St
General Information
Standard status
Active
Size
3,888 SF
Class
C
Total Parking Spaces
3
Property subtype
Multifamily
Units
Unit Mix
2 x 1BR/1BA, 2 x 2BR/1BA
Multifamily Units
4
Additional Details
Road Access
Yes
Amenities
coin operated laundry
Building Details
Year Built
1971
Buildings
1
Units
4
Listing Agency:
NAI Sioux Falls
(605) 228-9744
Listed By:
Marcus Mahlen · License #SD 16852
Source:
Crexi
Added: Mar 28
Changed: Aug 29
Last Checked: Aug 29 at 2:43PM
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 NAI Sioux Falls
Investment Insights
Based on property information with market context.
This four-unit multifamily property contains 3,888 square feet and offers a practical unit mix: two one-bedroom, one-bath units and two two-bedroom, one-bath units. Coin-operated laundry is located on site, and a detached three-stall garage provides additional property improvements. The building was constructed in 1971.
The quadplex is positioned on West 18th Street just west of Minnesota Avenue, minutes south of Downtown Sioux Falls. It is within the All Saints Historic District and near Sioux Falls Food Co+op, Pita Pit, Domino’s, Taco Bell, Topper’s Pizza, Azteca Mexican Restaurant, and Subway.
The quadplex is positioned on West 18th Street just west of Minnesota Avenue, minutes south of Downtown Sioux Falls. It is within the All Saints Historic District and near Sioux Falls Food Co+op, Pita Pit, Domino’s, Taco Bell, Topper’s Pizza, Azteca Mexican Restaurant, and Subway.
Key Highlights
- Two 1 Bed; 1 Bath units and two 2 Bed; 1 Bath units
- 3,888 square feet of multifamily property
- Detached 3 stall garage
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
$33,941
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
6.79%
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%
$678,820
$678.8K
Cap Rate 7%
$484,871
$484.9K
Cap Rate 9%
$377,122
$377.1K
Market Conditions
NOI Build-Up for 3,888 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
$53.7K $13.80/SF
− Vacancy
−$5.2K −$1.33/SF
EGI
$48.5K $12.47/SF
− OpEx
−$14.5K −$3.74/SF
NOI
$33.9K $8.73/SF
Area
Sioux Falls, SD
Vacancy
9.63%
Lease Rate
$13.80 /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%
$678,820
Cap Rate 7%
$484,871
Cap Rate 9%
$377,122
Alternative Uses
Best Use
Multifamily LT 5
$484.9K
$424.3K – $565.7K
NOI $33,941 @ 7.0% cap · market cap 6.79%
Second Best
Apartment 5plus
$444.7K
$389.1K – $518.8K
NOI $31,129 @ 7.0% cap · market cap 6.23%
Theoretical Best
Office A
$1.06M
$923.8K – $1.23M
NOI $73,903 @ 7.0% cap · market cap 14.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,307
Businesses Nearby
Explore this area
Business Placement
Demographics for 57105, SD
22,635
Population
10,550
Households
2.1
Avg Household Size
36
Median Age
44%
College-Educated
97%
High-School Grad
7.5 sq mi
ZIP Area
3,018
Density / Sq Mi
$74,066
Median Household Income
$43,271
Median Earnings
$956
Median Rent
$247,900
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?
Quadplex - Four-unit income property with coin-operated laundry and a three-stall detached garage in a historic district.
Where is this quadplex located?
The property is located at 301 W 18th St Sioux Falls, SD.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Two 1 Bed; 1 Bath units and two 2 Bed; 1 Bath units; 3,888 square feet of multifamily property; Detached 3 stall garage
