Sioux Falls Flex
For Sale
Contact for pricing
46984 Sunset Blvd, Sioux Falls, SD
Flex space in Southwest Commercial - Development Park, Sioux Falls.
Property Size2,400 SF
Lot Size0.39 Acres
Price / SF$135.42
Days on Market269
Property Features for 46984 Sunset Blvd
General Information
Standard status
Active
Size
2,400 SF
Lot size
0.39 Acres
Property subtype
INDUSTRIAL
Listing Agency:
Vantis Commercial
(605) 215-0940
Listed By:
Scott Ginkel. · License #12200
Source:
Moodyscre
Added: Nov 24, 2025
Changed: Aug 19
Last Checked: Aug 19 at 10:04AM
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
Investment Insights
Based on property information with market context.
This 2,400 square foot flex space is located in the Southwest Commercial - Development Park and offers easy access to I-29 and the future SD Highway-100. The property features two offices, two restrooms, and a drive-through bay equipped with 12’ x 14’ overhead doors. Heating is provided by forced air in the shop area, while the office space is equipped with a mini-split HVAC system. The property is currently under a month-to-month lease, presenting an opportunity for either investment or owner-user. The biannual association fee of $900 covers exterior building insurance, snow removal, lawn care, and water.
Key Highlights
- Excellent location in the Southwest Commercial - Development Park with easy access to I‑29 and future SD Highway‑100.
- Drive‑through bay with 12’ x 14’ overhead doors.
- Investment or owner‑user opportunity.
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
$24,636
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
7.58%
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%
$492,720
$492.7K
Cap Rate 7%
$351,943
$351.9K
Cap Rate 9%
$273,733
$273.7K
Market Conditions
NOI Build-Up for 2,400 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
$40.3K $16.80/SF
− Vacancy
−$2.4K −$1.01/SF
EGI
$37.9K $15.79/SF
− OpEx
−$13.3K −$5.53/SF
NOI
$24.6K $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 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%
$492,720
Cap Rate 7%
$351,943
Cap Rate 9%
$273,733
Alternative Uses
Best Use
Flex RnD
$351.9K
$308.0K – $410.6K
NOI $24,636 @ 7.0% cap · market cap 7.58%
Second Best
Warehouse
$301.4K
$263.7K – $351.6K
NOI $21,096 @ 7.0% cap · market cap 6.49%
Theoretical Best
Office A
$651.7K
$570.2K – $760.3K
NOI $45,619 @ 7.0% cap · market cap 14.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
204
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Flex space in Southwest Commercial - Development Park, Sioux Falls.
Where is this flex space located?
The property is located at 46984 Sunset Blvd Sioux Falls, SD.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Excellent location in the Southwest Commercial - Development Park with easy access to I‑29 and future SD Highway‑100.; Drive‑through bay with 12’ x 14’ overhead doors.; Investment or owner‑user opportunity.
