Multifamily Property with
For Sale
$1,000,000
412 N Sioux Blvd, Brandon, SD 57005
Leased multifamily property with two-bedroom residences, private outdoor areas, and oversized single garages.
Property Size3,982 SF
Price / SF$251.13
Days on Market517
Property Features for 412 N Sioux Blvd
General Information
Standard status
Active
Size
3,982 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Parking per Unit
1
Amenities
washer/dryer
covered decks
patios
Building Details
Year Built
2018
Tenancy
Multi
Listing Agency:
Harr & Lemme Real Estate
Listed By:
Todd Nelson
(605) 321-9147
Source:
Siouxfallsareahomesearch
Added: May 26, 2025
Changed: Oct 1
Last Checked: Oct 23 at 7:12AM
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 Harr & Lemme Real Estate
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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 2018 multifamily property contains 3,982 square feet and is being offered with 404 and 408 N Sioux Blvd. Each residence has two bedrooms, one bathroom, and an oversized single garage. The units are furnished with appliances, including washers and dryers, supporting a straightforward residential rental setup.
All units are currently leased, with some long-term leases in place. Upper-level residences feature covered decks, while lower-level residences open to patios. The owner is responsible for lawn care, snow removal, and garbage service.
All units are currently leased, with some long-term leases in place. Upper-level residences feature covered decks, while lower-level residences open to patios. The owner is responsible for lawn care, snow removal, and garbage service.
Key Highlights
- Offered with 404 and 408 N Sioux Blvd
- 3,982‑square‑foot multifamily property built in 2018
- All units currently leased; some long‑term leases in place
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,757
Cap Rate
2.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$595,140
$595.1K
Cap Rate 7%
$425,100
$425.1K
Cap Rate 9%
$330,633
$330.6K
Market Conditions
NOI Build-Up for 3,982 SF
Gross rent
$60.2K $15.12/SF
− Vacancy
−$6.1K −$1.53/SF
EGI
$54.1K $13.59/SF
− OpEx
−$24.3K −$6.11/SF
NOI
$29.8K $7.47/SF
Area
Minnehaha County, SD
Vacancy
10.14%
Lease Rate
$15.12 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$595,140
Cap Rate 7%
$425,100
Cap Rate 9%
$330,633
Alternative Uses
Best Use
Apartment 5plus
$425.1K
$372.0K – $496.0K
NOI $29,757 @ 7.0% cap · market cap 2.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.07M
$939.2K – $1.25M
NOI $75,139 @ 7.0% cap · market cap 7.51%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
174
Businesses Nearby
Explore this area
Business Placement
Demographics for 57005, SD
12,619
Population
4,693
Households
2.7
Avg Household Size
36
Median Age
41%
College-Educated
97%
High-School Grad
48.9 sq mi
ZIP Area
258
Density / Sq Mi
$108,689
Median Household Income
$53,429
Median Earnings
$985
Median Rent
$322,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Multifamily property - Leased multifamily property with two-bedroom residences, private outdoor areas, and oversized single garages.
Where is this multifamily property located?
The property is located at 412 N Sioux Blvd Brandon, SD.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Offered with 404 and 408 N Sioux Blvd; 3,982‑square‑foot multifamily property built in 2018; All units currently leased; some long‑term leases in place
