Industrial Flex Building with Cold
For Sale
$1,450,000
47086 271st St, Sioux Falls, SD 57108
COMMERCIAL, Sioux Falls, SD
Property Size11,100 SF
Lot Size2.74 Acres
Price / SF$130.63
Days on Market54
Property Features for 47086 271st St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Industrial
Subdivision
MUELLERS TR 6B in Lincoln County
Directions
Interstate 29,Tea Exit, East to property
Standard status
Active
APN
100.50.19A10A
Size
11,100 SF
Lot size
2.74 Acres
Taxes and HOA fees
Tax Description
Mueller's Lot 10A, SE 1/4 19-100-50 Delepre Township
Tax Annual Amount
8101
Legal Description
Mueller's Lot 10A, SE 1/4 19-100-50 Delepre Township
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1985
Flooring type
Concrete, Tile
Building materials
Frame, Metal Siding
Roof type
Metal
Listing Agency:
Don Dunham III, LLC
(605) 274-1144
Listed By:
Don Dunham
(605) 274-1144
Added: Jul 2
Changed: Aug 24
Last Checked: Aug 24 at 10:06PM
MLS# 22605031
Copyright © 2026 Realtor Association of the Sioux Empire MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This industrial flex property contains 11,100 square feet on 2.7376 acres, with frame construction, metal siding, concrete and tile flooring, central heating and central air. The building includes finished office suites, storage areas, shop space, a truck wash bay, and cold storage space. Four overhead doors support access to the operational areas, with sidewalls measuring 16 feet. Construction was completed in 1985, followed by an addition in 2004.
The property is located on 271st St in Sioux Falls, with access to I-29 at the Tea exit and connectivity to Veterans Parkway. Water service is provided by rural water, while the wash bay includes a 5000 gallon hold tank along with a septic tank and drain field. Industrial zoning supports the property's existing commercial configuration.
The property is located on 271st St in Sioux Falls, with access to I-29 at the Tea exit and connectivity to Veterans Parkway. Water service is provided by rural water, while the wash bay includes a 5000 gallon hold tank along with a septic tank and drain field. Industrial zoning supports the property's existing commercial configuration.
Key Highlights
- 11,100‑square‑foot industrial flex building on 2.7376 acres
- Four overhead doors with openings ranging from 16 x 14 to 20 x 14
- 16‑foot sidewalls and metal exterior construction
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
$113,939
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
7.86%
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%
$2,278,780
$2.3M
Cap Rate 7%
$1,627,700
$1.6M
Cap Rate 9%
$1,265,989
$1.3M
Market Conditions
NOI Build-Up for 11,100 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
$186.5K $16.80/SF
− Vacancy
−$11.2K −$1.01/SF
EGI
$175.3K $15.79/SF
− OpEx
−$61.4K −$5.53/SF
NOI
$113.9K $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%
$2,278,780
Cap Rate 7%
$1,627,700
Cap Rate 9%
$1,265,989
Alternative Uses
Best Use
Flex RnD
$1.63M
$1.42M – $1.90M
NOI $113,939 @ 7.0% cap · market cap 7.86%
Second Best
Warehouse
$1.39M
$1.22M – $1.63M
NOI $97,567 @ 7.0% cap · market cap 6.73%
Theoretical Best
Office A
$3.01M
$2.64M – $3.52M
NOI $210,989 @ 7.0% cap · market cap 14.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16 ft
Clear height
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
185
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 57108, SD
31,953
Population
13,933
Households
2.3
Avg Household Size
36
Median Age
54%
College-Educated
97%
High-School Grad
30.4 sq mi
ZIP Area
1,051
Density / Sq Mi
$96,184
Median Household Income
$51,749
Median Earnings
$1,292
Median Rent
$401,300
Median Home Value
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 - Versatile industrial facility with office suites, shop areas, truck wash bay, and refrigerated storage space.
Where is this flex space located?
The property is located at 47086 271st St Sioux Falls, SD.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: 11,100‑square‑foot industrial flex building on 2.7376 acres; Four overhead doors with openings ranging from 16 x 14 to 20 x 14; 16‑foot sidewalls and metal exterior construction
