Historic Office
For Sale
$2,600,000
335 N Main Ave, Sioux Falls, SD 57104
An elevator serves the upper office floors, with finished garden-level space below.
Property Size14,368 SF
Price / SF$180.96
Days on Market199
Property Features for 335 N Main Ave
General Information
Standard status
Active
Size
14,368 SF
Total Parking Spaces
30
Elevators
Yes
Property subtype
Commercial
Zoning
RE6
Site & Location
Neighborhood
Downtown
Additional Details
Property Use
Office
Taxes and HOA fees
Annual Taxes
$21,073
Amenities
treed court area
original hardwood floors
soaring fourteen foot ceilings
garden level windows
Building Details
Building Size
14,368 SF
Year Built
1892
Buildings
1
Stories
3
Units
4
Listing Agency:
Bridges Real Estate
(605) 271-1818
Listed By:
Kevin Kuiper
Source:
Landmarkrealtyandauction
Added: Apr 16
Changed: Oct 30
Last Checked: Oct 30 at 1:51AM
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 Bridges Real Estate
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Investment Insights
Based on property information with market context.
Built in 1892, this 14,368-square-foot office building has professional offices on its second and third floors, while the main level is configured as a portrait studio. Original oak, pine, maple, and cherry flooring remains on the first floor, beneath 14-foot ceilings. The finished basement adds approximately 1,300 square feet and has garden-level windows. An elevator on the south side serves the second and third floors.
The property is near downtown Sioux Falls and Falls Park. Its grounds include a wooded courtyard and 30 off-street parking spaces. The building is zoned RE6.
The property is near downtown Sioux Falls and Falls Park. Its grounds include a wooded courtyard and 30 off-street parking spaces. The building is zoned RE6.
Key Highlights
- 14,368‑square‑foot office building constructed in 1892
- Upper two floors contain professional offices; main level is arranged as a portrait studio
- Finished basement offers approximately 1,300 square feet with garden‑level windows
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$192,352
Cap Rate
7.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,847,040
$3.8M
Cap Rate 7%
$2,747,886
$2.7M
Cap Rate 9%
$2,137,244
$2.1M
Market Conditions
NOI Build-Up for 14,368 SF
Gross rent
$301.7K $21.00/SF
− Vacancy
−$45.3K −$3.15/SF
EGI
$256.5K $17.85/SF
− OpEx
−$64.1K −$4.46/SF
NOI
$192.4K $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%
$3,847,040
Cap Rate 7%
$2,747,886
Cap Rate 9%
$2,137,244
Alternative Uses
Best Use
Office B
$2.75M
$2.40M – $3.21M
NOI $192,352 @ 7.0% cap · market cap 7.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.90M
$3.41M – $4.55M
NOI $273,107 @ 7.0% cap · market cap 10.50%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
2,354
Businesses Nearby
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Business Placement
Demographics for 57104, SD
26,998
Population
13,952
Households
1.9
Avg Household Size
37
Median Age
25%
College-Educated
90%
High-School Grad
30.4 sq mi
ZIP Area
888
Density / Sq Mi
$59,161
Median Household Income
$39,101
Median Earnings
$849
Median Rent
$183,700
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office building - An elevator serves the upper office floors, with finished garden-level space below.
Where is this office building located?
The property is located at 335 N Main Ave Sioux Falls, SD.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: 14,368‑square‑foot office building constructed in 1892; Upper two floors contain professional offices; main level is arranged as a portrait studio; Finished basement offers approximately 1,300 square feet with garden‑level windows
