Flex Space with Service
3620 N Lewis Ave, Sioux Falls, SD 57104
For Sale
New
Contact for pricing
Showroom, office, and shop areas support a mix of customer-facing and service functions.
Property Size7,140 SF
Price / SF$182.07
Days on Market5
Property Features for 3620 N Lewis Ave
General Information
Standard status
Size
Property subtype
Site & Location
Highway Access
Fenced Yard
Additional Details
Clear Height
Listing Agency:
Vantis Commercial
(605) 215-0940
Listed By:
Craig Hagen, CCIM, SIOR · License SD #10123
(605) 310-4227
Source:
Moodyscre
Added: Nov 10
Changed: Nov 12
Last Checked: Nov 12 at 2:38PM
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 Vantis Commercial
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 7,140-square-foot flex property combines a showroom, three offices, a restroom, a breakroom, and a shop. The shop spans 5,133 square feet, with 16-foot sidewalls and two overhead doors measuring 14 feet wide by 12 feet high. A floor drain and a sump pit with oil separator are also part of the shop configuration.
The site is enclosed by a 6-foot fence and has two gate access points. Benson Road, I-229, and I-90 provide access routes from the property.
The site is enclosed by a 6-foot fence and has two gate access points. Benson Road, I-229, and I-90 provide access routes from the property.
Key Highlights
- 7,140 SF flex property with showroom, three offices, restroom, breakroom, and shop
- 5,133 SF shop area measuring 87' x 59'
- Two 14' x 12' overhead doors and 16' sidewalls
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$73,291
Cap Rate
5.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,465,820
$1.5M
Cap Rate 7%
$1,047,014
$1.0M
Cap Rate 9%
$814,344
$814.3K
Market Conditions
NOI Build-Up for 7,140 SF
Gross rent
$120.0K $16.80/SF
− Vacancy
−$7.2K −$1.01/SF
EGI
$112.8K $15.79/SF
− OpEx
−$39.5K −$5.53/SF
NOI
$73.3K $10.26/SF
Area
Sioux Falls, SD
Vacancy
6.00%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,465,820
Cap Rate 7%
$1,047,014
Cap Rate 9%
$814,344
Alternative Uses
Best Use
Flex RnD
$1.05M
$916.1K – $1.22M
NOI $73,291 @ 7.0% cap · market cap 5.64%
Second Best
Industrial
$697.3K
$610.2K – $813.6K
NOI $48,813 @ 7.0% cap · market cap 3.75%
Theoretical Best
Office A
$1.94M
$1.70M – $2.26M
NOI $135,717 @ 7.0% cap · market cap 10.44%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
16 ft
Clear height
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
335
Businesses Nearby
Well-served
Demand for This Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - Showroom, office, and shop areas support a mix of customer-facing and service functions.
Where is this flex space located?
The property is located at 3620 N Lewis Ave Sioux Falls, SD.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 7,140 SF flex property with showroom, three offices, restroom, breakroom, and shop; 5,133 SF shop area measuring 87' x 59'; Two 14' x 12' overhead doors and 16' sidewalls
