8-Property Quadplex
For Sale
$611,900
310 Arianna Pl, Tea, SD 57064
Eight four-plex buildings built in 2008 comprise a 32-unit residential income portfolio in Tea, South Dakota.
Property Size4,366 SF
Price / SF$140.15
Days on Market135
Property Features for 310 Arianna Pl
General Information
Standard status
Active
Size
4,366 SF
Property subtype
Multi-Family
Additional Details
Asking Price
$4,890,000
Multifamily Units
32
Building Details
Year Built
2008
Buildings
8
Listing Agency:
eXp Realty - Elevated Sioux Falls
(605) 376-0597
Listed By:
Nick Dieter
Source:
Siouxfallsareahomesearch
Added: Apr 18
Changed: Aug 29
Last Checked: Aug 30 at 6:01PM
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 eXp Realty - Elevated Sioux Falls
Investment Insights
Based on property information with market context.
This residential income portfolio includes eight four-plex buildings with a combined total of 32 units. Each property was built in 2008, providing a consistent vintage across the collection. The assets are offered together as a single portfolio, with the seller also indicating that a smaller grouping may be considered.
The included properties are located at 300, 301, 310, 315, 320, 325, 330, and 335 Arianna Place in Tea, South Dakota. The offering provides an established multi-property configuration within one community and is suited to buyers seeking a larger residential rental holding.
The included properties are located at 300, 301, 310, 315, 320, 325, 330, and 335 Arianna Place in Tea, South Dakota. The offering provides an established multi-property configuration within one community and is suited to buyers seeking a larger residential rental holding.
Key Highlights
- Eight four‑plex properties offered as one portfolio
- 32 total residential units
- All properties were built in 2008
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
$36,775
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
6.01%
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%
$735,500
$735.5K
Cap Rate 7%
$525,357
$525.4K
Cap Rate 9%
$408,611
$408.6K
Market Conditions
NOI Build-Up for 4,366 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
$55.0K $12.60/SF
− Vacancy
−$2.5K −$0.57/SF
EGI
$52.5K $12.03/SF
− OpEx
−$15.8K −$3.61/SF
NOI
$36.8K $8.42/SF
Area
Lincoln County, SD
Vacancy
4.50%
Lease Rate
$12.60 /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%
$735,500
Cap Rate 7%
$525,357
Cap Rate 9%
$408,611
Alternative Uses
Best Use
Multifamily LT 5
$525.4K
$459.7K – $612.9K
NOI $36,775 @ 7.0% cap · market cap 6.01%
Second Best
Apartment 5plus
$485.1K
$424.4K – $565.9K
NOI $33,955 @ 7.0% cap · market cap 5.55%
Theoretical Best
Office A
$969.3K
$848.1K – $1.13M
NOI $67,848 @ 7.0% cap · market cap 11.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
32
Residential units
Location Intelligence
Trade Area within ½ mile
93
Businesses Nearby
Explore this area
Business Placement
Demographics for 57064, SD
6,908
Population
2,652
Households
2.6
Avg Household Size
31
Median Age
39%
College-Educated
98%
High-School Grad
25.6 sq mi
ZIP Area
270
Density / Sq Mi
$104,351
Median Household Income
$54,400
Median Earnings
$1,132
Median Rent
$330,800
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 - Eight four-plex buildings built in 2008 comprise a 32-unit residential income portfolio in Tea, South Dakota.
Where is this quadplex located?
The property is located at 310 Arianna Pl Tea, SD.
What is the asking price?
The asking price for this property is $611,900.
What are key features of this property?
This property features: Eight four‑plex properties offered as one portfolio; 32 total residential units; All properties were built in 2008
