Crossdock Truck
For Sale
Contact for pricing
3401 N 1st Ave, Sioux Falls, SD 57104
Crossdock facility with office space, truck bays, and a separate storage building.
Property Size12,070 SF
Lot Size2.71 Acres
Price / SF$165.29
Days on Market462
Property Features for 3401 N 1st Ave
General Information
Standard status
Active
Size
12,070 SF
Lot size
2.71 Acres
Property subtype
INDUSTRIAL
Site & Location
Highway Access
Yes
Road Access
Yes
Warehouse & Industrial
Warehouse Space
4,800 SF
Dock-High Doors
24
Drive-In Doors
3
Loading
Cross-Dock
Building Details
Buildings
2
Listing Agency:
Bender Commercial
(605) 579-0189
Listed By:
Bradyn Neises · License #16240
(605) 579-0189
Source:
Moodyscre
Added: May 26, 2025
Changed: Aug 30
Last Checked: Aug 30 at 7:35AM
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.
The property includes a 7,270 SF crossdock terminal with office space and 24 truck bays. A separate 4,800 SF storage building adds three 14′ grade-level doors, supporting loading and storage functions across the 2.71-acre site.
Located within Sioux Empire Development Park Three near the Sioux Falls Regional Airport, the property provides access to Benson Road, Cliff Avenue, I-90, and I-229. Nearby businesses include Graco, Krohmer Plumbing, Cole Papers, Dakota Splash, and Winwater.
Located within Sioux Empire Development Park Three near the Sioux Falls Regional Airport, the property provides access to Benson Road, Cliff Avenue, I-90, and I-229. Nearby businesses include Graco, Krohmer Plumbing, Cole Papers, Dakota Splash, and Winwater.
Key Highlights
- 7,270 SF crossdock terminal with office space
- 24 truck bays
- 4,800 SF storage building
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
$106,093
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
5.32%
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%
$2,121,860
$2.1M
Cap Rate 7%
$1,515,614
$1.5M
Cap Rate 9%
$1,178,811
$1.2M
Market Conditions
NOI Build-Up for 12,070 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
$130.4K $10.80/SF
− Vacancy
−$5.5K −$0.46/SF
EGI
$124.8K $10.34/SF
− OpEx
−$18.7K −$1.55/SF
NOI
$106.1K $8.79/SF
Area
Sioux Falls, SD
Vacancy
4.25%
Lease Rate
$10.80 /SF/Yr
Expense Ratio
15.00%
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%
$2,121,860
Cap Rate 7%
$1,515,614
Cap Rate 9%
$1,178,811
Alternative Uses
Best Use
Warehouse
$1.52M
$1.33M – $1.77M
NOI $106,093 @ 7.0% cap · market cap 5.32%
Second Best
Industrial
$1.18M
$1.03M – $1.38M
NOI $82,517 @ 7.0% cap · market cap 4.14%
Theoretical Best
Office A
$3.28M
$2.87M – $3.82M
NOI $229,427 @ 7.0% cap · market cap 11.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
24
Dock-high doors
3
Drive-in doors
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
748
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Truck terminal - Crossdock facility with office space, truck bays, and a separate storage building.
Where is this truck terminal located?
The property is located at 3401 N 1st Ave Sioux Falls, SD.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: 7,270 SF crossdock terminal with office space; 24 truck bays; 4,800 SF storage building
