Self Storage Facility With Shop
For Sale
Contact for pricing
3712 North 10th Avenue, Sioux Falls, SD 57104
Storage units and heated shop bays support flexible commercial use with office, restroom, mezzanine, and outdoor storage areas.
Property Size3,888 SF
Lot Size0.46 Acres
Price / SF$85.45
Days on Market8
Property Features for 3712 North 10th Avenue
General Information
Standard status
Active
Size
3,888 SF
Lot size
0.46 Acres
Property subtype
Industrial, Self Storage
Site & Location
Fenced Yard
Yes
Outdoor Storage
Yes
Additional Details
Self-Storage Units
6
Building Details
Buildings
2
Units
8
Building Size
3,888 SF
Listing Agency:
Bender Commercial
Listed By:
Isaac Jorgensen · License #SD 20285
(605) 336-7600
Source:
Crexi
Added: Aug 26
Changed: Sep 2
Last Checked: Sep 2 at 1:31PM
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.
This self storage facility includes a 3,888-square-foot shop and storage building configured with two connected bays. Each bay has a 12-foot overhead door, radiant heat, mezzanine storage, and an office area with restroom access. Reznor heaters serve both sides of the shop, while the non-load-bearing demising wall may allow for layout changes. The north side also includes a drain separator.
Six additional storage units, each measuring 200 square feet, provide dedicated enclosed storage. The 0.46-acre site includes striped parking and partially fenced outdoor storage. A car lift and air compressor are available by negotiation.
The property is located at 3712 North 10th Avenue in Sioux Falls, near the southeast side of the Cliff Avenue and Benson Road intersection. Nearby businesses include Mac’s Hardware, Jimmy John’s, O’Reilly Auto Parts, Dakota Angler, Casey’s, and Tractor Supply Company.
Six additional storage units, each measuring 200 square feet, provide dedicated enclosed storage. The 0.46-acre site includes striped parking and partially fenced outdoor storage. A car lift and air compressor are available by negotiation.
The property is located at 3712 North 10th Avenue in Sioux Falls, near the southeast side of the Cliff Avenue and Benson Road intersection. Nearby businesses include Mac’s Hardware, Jimmy John’s, O’Reilly Auto Parts, Dakota Angler, Casey’s, and Tractor Supply Company.
Key Highlights
- 3,888 SF shop and storage building on a 0.46‑acre lot
- Two connected shop bays with 12‑foot overhead doors
- Each bay includes radiant heat, mezzanine storage, office area, and restroom access
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
$35,605
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
8.00%
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%
$712,100
$712.1K
Cap Rate 7%
$508,643
$508.6K
Cap Rate 9%
$395,611
$395.6K
Market Conditions
NOI Build-Up for 5,208 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
$53.1K $10.20/SF
− Vacancy
−$2.3K −$0.43/SF
EGI
$50.9K $9.77/SF
− OpEx
−$15.3K −$2.93/SF
NOI
$35.6K $6.84/SF
Area
Sioux Falls, SD
Vacancy
4.25%
Lease Rate
$10.20 /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%
$712,100
Cap Rate 7%
$508,643
Cap Rate 9%
$395,611
Alternative Uses
Best Use
Flex RnD
$763.7K
$668.2K – $891.0K
NOI $53,459 @ 7.0% cap · market cap 12.01%
Second Best
Warehouse
$654.0K
$572.2K – $763.0K
NOI $45,778 @ 7.0% cap · market cap 10.29%
Theoretical Best
Office A
$1.41M
$1.24M – $1.65M
NOI $98,994 @ 7.0% cap · market cap 22.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
385
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?
Self storage facility - Storage units and heated shop bays support flexible commercial use with office, restroom, mezzanine, and outdoor storage areas.
Where is this self storage facility located?
The property is located at 3712 North 10th Avenue Sioux Falls, SD.
What is the asking price?
The asking price for this property is $445,000.
What are key features of this property?
This property features: 3,888 SF shop and storage building on a 0.46‑acre lot; Two connected shop bays with 12‑foot overhead doors; Each bay includes radiant heat, mezzanine storage, office area, and restroom access
