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    Retail Condominium Units For Sale Title is generated by Realmo AI

    3601 W 57th St, Sioux Falls, SD

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    Three retail condominium units for sale in Sioux Falls.

    Type:RETAIL
    Property size:
    15,924 SF
    Lot size:
    0.36 Acres
    Price / SF:
    $248/SF
    Added:
    Jun 16, 2025
    Days on Market:
    360
    Last Refresh:
    May 20 at 9:49 pm

    Property Features for 3601 W 57th St

    General Information

    Standard status
    Active
    Size
    15,924 SF
    Lot size
    0.36 Acres
    Property subtype
    RETAIL

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    Listing Contact
    Raquel Blount, SIOR

    Listing agent Raquel Blount, SIOR

    Listing office Lloyd Companies - Corporate

    Listing date Jun 16, 2025

    Source Moodyscre

    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 Lloyd Companies - Corporate

    HighLights

    • High‑traffic location with a strong daytime population and numerous businesses.
    • Purchase includes three units within the Shoppes at 57th Street Condominium Project.
    • Existing tenants include established businesses like Wingstop and The Honey Baked Ham Co.
    • Two vacant suites in shell condition offer potential for new tenants or owner‑occupancy.
    • Part of a condominium project surrounded by a mix of retail, office, and residential developments.
    • Shared surface parking with 101 stalls.

    Overview

    This offering includes the purchase of three condominium units (Units B, C, and D) within the Shoppes at 57th Street Condominium Project. The project is managed by an association owned by four unit owners. Unit A is owned by First Interstate Bank. The property is part of an overall condo project site of approximately 1.93 acres. Tenants currently include Wingstop, Healing Touch Massage, Power Plate Meals, Advanced Dental, and The Honey Baked Ham Co. The property features two vacant suites in shell condition, presenting opportunities for a range of tenants or an owner-occupant. The location benefits from a daytime population of 20,532 and over 1,040 businesses within a 1-mile radius. Neighboring tenants include Taco John’s, Panera Bread, Juice Stop, barre3, Pomegranate Market, Tokyo, and The Tavern Grill. There are 101 shared surface stalls available on the overall condo project site. The property is surrounded by a mix of retail, office, and residential developments.

    Local Financial Insights For Specialty Retail

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $305.7k $19.20
    − Vacancy −$22.9k −$1.44
    EGI $282.8k $17.76
    − OpEx −$70.7k −$4.44
    NOI $212.1k $13.32
    15,924 SF · lease $19.20/SF/yr · vacancy 7.50% · expense 25.00%

    Alternative Uses

    Best Use
    Specialty Retail
    $3.03M
    $2.65M – $3.54M (±1% cap)
    NOI $212,108 @ 7.0% cap · market cap 5.36%
    Second Best
    Retail
    $2.64M
    $2.31M – $3.08M (±1% cap)
    NOI $184,591 @ 7.0% cap · market cap 4.66%
    Theoretical Best
    Office A
    $4.32M
    $3.78M – $5.04M (±1% cap)
    NOI $302,683 @ 7.0% cap · market cap 7.64%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Jessica Daale Alternative Medicine Practice Nathan Dejong Alternative Medicine Practice

    Suggested Use

    Law Firm Restaurant Spa & Massage Center Dental Office Real Estate Agency Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Sioux Falls
    County
    Lincoln
    State
    South Dakota
    Longitude
    -96.7699
    Latitude
    43.4999

    FAQs

    What type of property is this?
    Strip mall - Three retail condominium units for sale in Sioux Falls.
    Where is this strip mall located?
    The property is located at 3601 W 57th St Sioux Falls, SD.
    What is the asking price?
    The asking price for this property is $3,960,000.
    What are key features of this property?
    This property features: High‑traffic location with a strong daytime population and numerous businesses.; Purchase includes three units within the Shoppes at 57th Street Condominium Project.; Existing tenants include established businesses like Wingstop and The Honey Baked Ham Co.
    (605) 323-2820 Call to check price and availability
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