Two-Tenant Mixed-Use
For Sale
$1,750,000
3301 Singing Hills Boulevard, Sioux City, IA 51106
Commercial, Sioux City, IA
Property Size11,946 SF
Lot Size2,023.00 Acres
Price / SF$146.49
Days on Market525
Property Features for 3301 Singing Hills Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
Mside South
Standard status
Active
APN
884718155001
Lot size
2,023.00 Acres
Taxes and HOA fees
Tax Year
2023
Tax Description
SOUTHGATE 4TH LOT 2
Tax Annual Amount
55478
Legal Description
SOUTHGATE 4TH LOT 2
Building Details
Year built
2001
Listing Agency:
LPT Realty, LLC
(877) 366-2213
Listed By:
Amy Kakacek
(712) 333-1111
Added: Apr 7, 2025
Changed: Sep 9
Last Checked: Sep 13 at 11:06AM
MLS# 828194
Copyright © 2026 Northwest Iowa Regional Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 2001, this approximately 11,946-square-foot mixed-use property contains retail and office components within a two-tenant configuration. The property is fully occupied, with the retail space used by a golf shop since 2018 and the office component occupied by the Government Services Administration since 2019.
Both tenancies are structured as modified gross leases. The golf shop lease was renewed for five years in 2023, while the GSA lease has a 15-year term with seven years firm. The property is located at 3301 Singing Hills Boulevard in Sioux City, Iowa.
Both tenancies are structured as modified gross leases. The golf shop lease was renewed for five years in 2023, while the GSA lease has a 15-year term with seven years firm. The property is located at 3301 Singing Hills Boulevard in Sioux City, Iowa.
Key Highlights
- Approximately 11,946‑square‑foot mixed‑use building
- Fully occupied by two tenants
- Retail tenant has occupied the property since 2018
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
$118,522
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
6.77%
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%
$2,370,440
$2.4M
Cap Rate 7%
$1,693,171
$1.7M
Cap Rate 9%
$1,316,911
$1.3M
Market Conditions
NOI Build-Up for 11,946 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
$184.9K $15.48/SF
− Vacancy
−$15.6K −$1.31/SF
EGI
$169.3K $14.17/SF
− OpEx
−$50.8K −$4.25/SF
NOI
$118.5K $9.92/SF
Area
Woodbury County, IA
Vacancy
8.44%
Lease Rate
$15.48 /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%
$2,370,440
Cap Rate 7%
$1,693,171
Cap Rate 9%
$1,316,911
Alternative Uses
Best Use
Retail
$1.69M
$1.48M – $1.98M
NOI $118,522 @ 7.0% cap · market cap 6.77%
Second Best
Mixed Use
$1.29M
$1.13M – $1.50M
NOI $90,155 @ 7.0% cap · market cap 5.15%
Theoretical Best
Specialty Retail
$1.80M
$1.57M – $2.09M
NOI $125,657 @ 7.0% cap · market cap 7.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Office units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
321
Businesses Nearby
Explore this area
Business Placement
Demographics for 51106, IA
28,655
Population
11,681
Households
2.5
Avg Household Size
35
Median Age
27%
College-Educated
93%
High-School Grad
33.5 sq mi
ZIP Area
855
Density / Sq Mi
$74,486
Median Household Income
$40,495
Median Earnings
$1,080
Median Rent
$186,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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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?
Mixed-use property - Fully occupied commercial property combines retail and office uses under modified gross leases.
Where is this mixed-use property located?
The property is located at 3301 Singing Hills Boulevard Sioux City, IA.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Approximately 11,946‑square‑foot mixed‑use building; Fully occupied by two tenants; Retail tenant has occupied the property since 2018
