Accessible Office Condo For
For Sale
Contact for pricing
3205 S Meadow Ave, Sioux Falls, SD
Office condo near 41st St and I-29 with ample storage.
Property Size4,400 SF
Lot Size0.50 Acres
Price / SF$150
Days on Market498
Property Features for 3205 S Meadow Ave
General Information
Standard status
Active
Size
4,400 SF
Lot size
0.50 Acres
Property subtype
OFFICE
Listing Agency:
Bender Commercial
(605) 336-7600
Listed By:
Isaac Jorgensen · License #20285
(605) 799-5058
Source:
Moodyscre
Added: May 26, 2025
Changed: Jul 6
Last Checked: Oct 4 at 11:40AM
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
Investment Insights
Based on property information with market context.
This easily accessible office condo is located just west of 41st Street and I-29. The building features three levels, totaling 6,600 square feet of gross building area, with each level offering 2,200 square feet. The main level includes a lobby, reception area, four offices, a conference room, a breakroom with a full kitchen, and two private bathrooms. The upper level features an open area, six offices, one bonus room, two bathrooms, a shower, and an additional kitchen area equipped with a full-size washer and dryer. The lower level provides ample heated storage, multiple rooms, and plenty of lighting. Neighboring businesses include IHOP, Circle K, Perkins, Chick-fil-A, Chipotle, Crumbl, and the Empire Mall.
Key Highlights
- Easily accessible location near 41st St and I‑29.
- 6,600 SF total gross building area across three levels.
- Main level features a lobby, reception area, four offices, conference room, breakroom with full kitchen, and two private bathrooms.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$58,905
Cap Rate
8.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,178,100
$1.2M
Cap Rate 7%
$841,500
$841.5K
Cap Rate 9%
$654,500
$654.5K
Market Conditions
NOI Build-Up for 4,400 SF
Gross rent
$92.4K $21.00/SF
− Vacancy
−$13.9K −$3.15/SF
EGI
$78.5K $17.85/SF
− OpEx
−$19.6K −$4.46/SF
NOI
$58.9K $13.39/SF
Area
Sioux Falls, SD
Vacancy
15.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,178,100
Cap Rate 7%
$841,500
Cap Rate 9%
$654,500
Alternative Uses
Best Use
Office B
$841.5K
$736.3K – $981.8K
NOI $58,905 @ 7.0% cap · market cap 8.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.19M
$1.05M – $1.39M
NOI $83,635 @ 7.0% cap · market cap 12.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
805
Businesses Nearby
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Business Placement
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office units - Office condo near 41st St and I-29 with ample storage.
Where is this office units located?
The property is located at 3205 S Meadow Ave Sioux Falls, SD.
What is the asking price?
The asking price for this property is $660,000.
What are key features of this property?
This property features: Easily accessible location near 41st St and I‑29.; 6,600 SF total gross building area across three levels.; Main level features a lobby, reception area, four offices, conference room, breakroom with full kitchen, and two private bathrooms.
