Office Unit with Private
For Sale
$1,700,000
309 Cook Street Sioux, Sioux City, IA 51103
Configured commercial condominium with secured entry, reception, workrooms, meeting space, and shared common-area access.
Property Size12,540 SF
Price / SF$135.57
Days on Market195
Property Features for 309 Cook Street Sioux
General Information
Standard status
Active
Size
12,540 SF
Class
B
Property subtype
Single Tenant Office
Additional Details
Floor
Main Floor
Building Details
Building Size
12,540 SF
Year Built
1977
Properties For Sale
at 309 Cook Street Sioux Contact us- Size
- 12,540 SF
- Lease Type
- NNN
309 Cook St
Listing Agency:
NAI United
(712) 898-8372
Listed By:
Erin Hoekstra
(712) 898-8372
Source:
Thebrokerlist
Added: Feb 18
Changed: Aug 31
Last Checked: Aug 31 at 6:44AM
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
Investment Insights
Based on property information with market context.
This office condominium provides 12,540 SF of total space, including an 11,752-SF main floor and a proportionate 788-SF share of common areas. The layout includes a secured vestibule, reception area, 17 private offices, five office/nursing bays, an open activity area, break room, conference room, and large participation room. Multiple restrooms and storage rooms are distributed throughout the premises.
The condominium shares occupancy and expenses with the Siouxland Center for Active Generations and has access to the property’s 2,541 SF of common areas. The building was constructed in 1977 and is positioned at the corner of West 4th and Hamilton Boulevard.
The condominium shares occupancy and expenses with the Siouxland Center for Active Generations and has access to the property’s 2,541 SF of common areas. The building was constructed in 1977 and is positioned at the corner of West 4th and Hamilton Boulevard.
Key Highlights
- 12,540 SF total condominium area
- 11,752‑SF main floor plus a proportionate 788‑SF common‑area share
- 17 private offices and five office/nursing bays
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
$86,902
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
5.11%
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%
$1,738,040
$1.7M
Cap Rate 7%
$1,241,457
$1.2M
Cap Rate 9%
$965,578
$965.6K
Market Conditions
NOI Build-Up for 12,540 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
$165.5K $13.20/SF
− Vacancy
−$20.7K −$1.65/SF
EGI
$144.8K $11.55/SF
− OpEx
−$57.9K −$4.62/SF
NOI
$86.9K $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 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%
$1,738,040
Cap Rate 7%
$1,241,457
Cap Rate 9%
$965,578
Alternative Uses
Best Use
Healthcare Medical
$1.24M
$1.09M – $1.45M
NOI $86,902 @ 7.0% cap · market cap 5.11%
Second Best
Office B
$906.5K
$793.2K – $1.06M
NOI $63,456 @ 7.0% cap · market cap 3.73%
Theoretical Best
Specialty Retail
$1.88M
$1.65M – $2.20M
NOI $131,905 @ 7.0% cap · market cap 7.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
779
Businesses Nearby
Explore this area
Business Placement
Demographics for 51103, IA
16,827
Population
6,867
Households
2.5
Avg Household Size
35
Median Age
17%
College-Educated
77%
High-School Grad
12.1 sq mi
ZIP Area
1,391
Density / Sq Mi
$57,212
Median Household Income
$35,136
Median Earnings
$887
Median Rent
$124,400
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Configured commercial condominium with secured entry, reception, workrooms, meeting space, and shared common-area access.
Where is this office units located?
The property is located at 309 Cook Street Sioux Sioux City, IA.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: 12,540 SF total condominium area; 11,752‑SF main floor plus a proportionate 788‑SF common‑area share; 17 private offices and five office/nursing bays
