Duplex with Unfinished
3204-3206 South Kiwanis Avenue, Sioux Falls, SD 57105
For Sale
Contact for pricing
An unfinished lower level adds flexibility to the building’s existing residential layout.
Property Size3,072 SF
Price / SF$122.07
Days on Market55
Property Features for 3204-3206 South Kiwanis Avenue
General Information
Standard status
Size
Property subtype
Additional Details
Multifamily Units
Listing Agency:
Bender Commercial
Listed By:
Nick Gustafson · License SD #12071
(605) 201-2809
Source:
Crexi
Added: Sep 21
Changed: Nov 1
Last Checked: Nov 12 at 4:27AM
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 Bender Commercial
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This duplex contains 3,072 SF of finished space and a 1,536 SF unfinished basement. Improvements include west-facing windows installed in 2025, exterior paint from 2024, a roof replaced in 2022, and an AC unit added in 2019. The basement remains unfinished.
O’Gorman High School is across the street, and 41st Street is one block away.
O’Gorman High School is across the street, and 41st Street is one block away.
Key Highlights
- 3,072 SF of finished space
- 1,536 SF unfinished basement
- West‑facing windows installed in 2025
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,818
Cap Rate
7.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$536,360
$536.4K
Cap Rate 7%
$383,114
$383.1K
Cap Rate 9%
$297,978
$298.0K
Market Conditions
NOI Build-Up for 3,072 SF
Gross rent
$42.4K $13.80/SF
− Vacancy
−$4.1K −$1.33/SF
EGI
$38.3K $12.47/SF
− OpEx
−$11.5K −$3.74/SF
NOI
$26.8K $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 Rate 5%
$536,360
Cap Rate 7%
$383,114
Cap Rate 9%
$297,978
Alternative Uses
Best Use
Multifamily LT 5
$383.1K
$335.2K – $447.0K
NOI $26,818 @ 7.0% cap · market cap 7.15%
Second Best
Apartment 5plus
$351.4K
$307.5K – $409.9K
NOI $24,596 @ 7.0% cap · market cap 6.56%
Theoretical Best
Office A
$834.2K
$729.9K – $973.2K
NOI $58,393 @ 7.0% cap · market cap 15.57%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
977
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
Frequently Asked Questions
What type of property is this?
Duplex - An unfinished lower level adds flexibility to the building’s existing residential layout.
Where is this duplex located?
The property is located at 3204-3206 South Kiwanis Avenue Sioux Falls, SD.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 3,072 SF of finished space; 1,536 SF unfinished basement; West‑facing windows installed in 2025
