Class A Office Condo
For Sale
$875,000
302 Jones St Ste 210, Sioux City, IA 51101
Corporately leased office condo in historic district.
Property Size5,069 SF
Days on Market236
Property Features for 302 Jones St Ste 210
General Information
Standard status
Active
Size
5,069 SF
Class
A
Property subtype
Office
Building Details
Building Size
5,069 SF
Year Built
1906
Listing Agency:
NAI United
Listed By:
Nathan Connelly · License #S62387000
(712) 203-1620
Source:
Naiunited
Added: Feb 26
Changed: Oct 8
Last Checked: Oct 19 at 4:41AM
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 United
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Investment Insights
Based on property information with market context.
This Class A office condo is offered as an investment opportunity with a 7.5% cap rate. The space is 100% leased by Robert W. Baird & Co., who recently extended their lease for five years and has occupied the space since the building's complete renovation in 2011. The property is located on the 2nd floor of the historic United Center, featuring an open staircase made of 117-year-old Douglas Fir timbers. The sale includes 5 underground parking spaces, with the option to purchase additional spaces. United Center is situated next to the Sioux City Convention Center, Marriott Courtyard, and a movie theater in the Historic 4th Street Entertainment District. The property is located at 302 Jones St, Ste 210, Sioux City, IA 51101.
Key Highlights
- NNN corporately leased investment with a 7.5% cap rate.
- 100% leased by Robert W. Baird & Co. with a recently extended five‑year lease.
- Baird has occupied the space since the building's complete renovation in 2011.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,651
Cap Rate
2.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$513,020
$513.0K
Cap Rate 7%
$366,443
$366.4K
Cap Rate 9%
$285,011
$285.0K
Market Conditions
NOI Build-Up for 5,069 SF
Gross rent
$46.8K $9.24/SF
− Vacancy
−$12.6K −$2.49/SF
EGI
$34.2K $6.75/SF
− OpEx
−$8.6K −$1.69/SF
NOI
$25.7K $5.06/SF
Area
Woodbury County, IA
Vacancy
26.98%
Lease Rate
$9.24 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$513,020
Cap Rate 7%
$366,443
Cap Rate 9%
$285,011
Alternative Uses
Best Use
Office B
$366.4K
$320.6K – $427.5K
NOI $25,651 @ 7.0% cap · market cap 2.93%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$761.7K
$666.5K – $888.7K
NOI $53,320 @ 7.0% cap · market cap 6.09%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
2,187
Businesses Nearby
Explore this area
Business Placement
Demographics for 51101, IA
1,146
Population
723
Households
1.6
Avg Household Size
39
Median Age
11%
College-Educated
84%
High-School Grad
1.2 sq mi
ZIP Area
955
Density / Sq Mi
$18,103
Median Household Income
$25,661
Median Earnings
$676
Median Rent
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office unit - Corporately leased office condo in historic district.
Where is this office unit located?
The property is located at 302 Jones St Ste 210 Sioux City, IA.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: NNN corporately leased investment with a **7.5% cap rate.**; 100% leased by Robert W. Baird & Co. with a recently extended five‑year lease.; Baird has occupied the space since the building's complete renovation in 2011.
