Office Building with Monument
For Sale
Contact for pricing
3800 S Kiwanis Ave, Sioux Falls, SD 57105
Corner office property with access from both streets, monument signage, lawn irrigation, and an enclosed dumpster area.
Property Size10,572 SF
Price / SF$203.37
Days on Market133
Property Features for 3800 S Kiwanis Ave
General Information
Standard status
Active
Size
10,572 SF
Class
A
Property subtype
Office
Lease Type
NNN
Additional Details
Road Access
Yes
Building Details
Year Built
1988
Stories
1
Tenancy
Single
Listing Agency:
Jim Dunham & Associates
(605) 275-8500
Listed By:
Jim Dunham · License #SD 4531
Source:
Crexi
Added: Apr 22
Changed: Aug 30
Last Checked: Aug 30 at 8:42AM
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 Jim Dunham & Associates
Investment Insights
Based on property information with market context.
This 10,572-square-foot office building was constructed in 1988 and occupies a corner position at S Kiwanis Ave and W 46th St in Sioux Falls. The property includes curb cuts on both streets, monument signage, maintained green space supported by a lawn sprinkler system, and an on-site dumpster enclosure.
S Kiwanis Ave carries reported daily traffic of 11,600 vehicles, providing exposure for occupants and signage. Traffic has increased 11.54% year over year. The existing tenant is downsizing after ten years at the property, creating an opportunity for a new owner or occupant. Showing restrictions apply.
S Kiwanis Ave carries reported daily traffic of 11,600 vehicles, providing exposure for occupants and signage. Traffic has increased 11.54% year over year. The existing tenant is downsizing after ten years at the property, creating an opportunity for a new owner or occupant. Showing restrictions apply.
Key Highlights
- 10,572‑square‑foot office building constructed in 1988
- Corner location at S Kiwanis Ave and W 46th St
- 11,600 vehicles per day reported on S Kiwanis Ave
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
$141,533
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
6.58%
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%
$2,830,660
$2.8M
Cap Rate 7%
$2,021,900
$2.0M
Cap Rate 9%
$1,572,589
$1.6M
Market Conditions
NOI Build-Up for 10,572 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
$222.0K $21.00/SF
− Vacancy
−$33.3K −$3.15/SF
EGI
$188.7K $17.85/SF
− OpEx
−$47.2K −$4.46/SF
NOI
$141.5K $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 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%
$2,830,660
Cap Rate 7%
$2,021,900
Cap Rate 9%
$1,572,589
Alternative Uses
Best Use
Office B
$2.02M
$1.77M – $2.36M
NOI $141,533 @ 7.0% cap · market cap 6.58%
Second Best
Healthcare Medical
$1.94M
$1.69M – $2.26M
NOI $135,491 @ 7.0% cap · market cap 6.30%
Theoretical Best
Office A
$2.87M
$2.51M – $3.35M
NOI $200,953 @ 7.0% cap · market cap 9.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,079
Businesses Nearby
Explore this area
Business Placement
Demographics for 57105, SD
22,635
Population
10,550
Households
2.1
Avg Household Size
36
Median Age
44%
College-Educated
97%
High-School Grad
7.5 sq mi
ZIP Area
3,018
Density / Sq Mi
$74,066
Median Household Income
$43,271
Median Earnings
$956
Median Rent
$247,900
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Corner office property with access from both streets, monument signage, lawn irrigation, and an enclosed dumpster area.
Where is this office building located?
The property is located at 3800 S Kiwanis Ave Sioux Falls, SD.
What is the asking price?
The asking price for this property is $2,150,000.
What are key features of this property?
This property features: 10,572‑square‑foot office building constructed in 1988; Corner location at S Kiwanis Ave and W 46th St; 11,600 vehicles per day reported on S Kiwanis Ave
