Quadplex with Modern Unit
For Sale
$1,299,000
Pending
5000 E 54th St, Sioux Falls, SD 57110
MULTI-FAMILY, Sioux Falls, SD
Property Size9,878 SF
Lot Size0.45 Acres
Days on Market431
Property Features for 5000 E 54th St
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Bedrooms
12
Bathrooms
16
Full bathrooms
16
Rooms
Bathroom 2, Bedroom 5, Bathroom 10, Bedroom 6, Bathroom 1, Bedroom 1, Bathroom 3, Bathroom 4, Bedroom 12, Bedroom 7, Bathroom 13, Bathroom 15, Bathroom 9, Bathroom 12, Bathroom 5, Bathroom 8, Bathroom 14, Bathroom 7, Bedroom 4, Bedroom 8, Bedroom 3, Bedroom 9, Bathroom 6, Bedroom 2, Bedroom 10, Bathroom 16, Bathroom 11, Bedroom 11
Appliances
Dishwasher, Microwave, Range, Refrigerator
Subdivision
BROOKS CROSSING ADDITION TO THE CITY OF SIOUX FALL
Elementary school
John Harris ES
Middle school
Ben REifel Middle School
High school
Washington HS
Elementary school district
Sioux Falls
Middle school district
SiouxFalls
High school district
SiouxFalls
Directions
West on E 57th towards S Sycamore Ave, turn right onto Sycamore Ave, turn right onto E 54th St
Standard status
Pending
APN
95131
Size
9,878 SF
Lot size
0.45 Acres
Taxes and HOA fees
Tax Description
Lot 2D Block 1 Brooks Crossing Addition An Addn To The City Of Sioux Falls
Tax Annual Amount
10882
Legal Description
Lot 2D Block 1 Brooks Crossing Addition An Addn To The City Of Sioux Falls
Utilities
Sewer type
Public Sewer
Cooling system
Electric
Water source
Public
Building Details
Year built
2022
Floors in Building
3
Number of units
4
Building materials
HardiPlank Type, Stucco
Listing Agency:
Coldwell Banker Empire Realty · Coldwell Banker Real Estate
(605) 610-9848
Listed By:
Monica Pluim
(605) 201-5998
Added: Jun 27, 2025
Changed: Aug 29
Last Checked: Aug 31 at 12:06AM
MLS# 22505002
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 four-unit quadplex is under construction within a newer upscale community in Southeast Sioux Falls. Each residence is designed with 3 bedrooms, 3.5 bathrooms, a main-level den, an open-concept kitchen, and a fireplace. Walkout patios and second-story decks extend the living areas outdoors, while planned appliances include a dishwasher, microwave, range, and refrigerator. HardiPlank and stucco are specified for the exterior, with electric cooling and public water and sewer serving the property.
Construction is approximately 50% complete, allowing the final finishes to be selected. The property is located near shopping, dining, and parks, with an address on E 54th St in Sioux Falls. The site encompasses 0.4496 acres, and the property information identifies 2022 as the year built.
Construction is approximately 50% complete, allowing the final finishes to be selected. The property is located near shopping, dining, and parks, with an address on E 54th St in Sioux Falls. The site encompasses 0.4496 acres, and the property information identifies 2022 as the year built.
Key Highlights
- Four‑unit quadplex with each residence offering 3 bedrooms and 3.5 bathrooms
- Each unit includes 2,470 sq ft of living space and a main‑level den
- Walkout patios and second‑story decks provide private outdoor areas
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
$86,232
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
6.64%
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%
$1,724,640
$1.7M
Cap Rate 7%
$1,231,886
$1.2M
Cap Rate 9%
$958,133
$958.1K
Market Conditions
NOI Build-Up for 9,878 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
$136.3K $13.80/SF
− Vacancy
−$13.1K −$1.33/SF
EGI
$123.2K $12.47/SF
− OpEx
−$37.0K −$3.74/SF
NOI
$86.2K $8.73/SF
Area
Sioux Falls, SD
Vacancy
9.63%
Lease Rate
$13.80 /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%
$1,724,640
Cap Rate 7%
$1,231,886
Cap Rate 9%
$958,133
Alternative Uses
Best Use
Multifamily LT 5
$1.23M
$1.08M – $1.44M
NOI $86,232 @ 7.0% cap · market cap 6.64%
Second Best
Apartment 5plus
$1.13M
$988.6K – $1.32M
NOI $79,088 @ 7.0% cap · market cap 6.09%
Theoretical Best
Office A
$2.68M
$2.35M – $3.13M
NOI $187,761 @ 7.0% cap · market cap 14.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
163
Businesses Nearby
Explore this area
Business Placement
Demographics for 57110, SD
22,013
Population
9,178
Households
2.4
Avg Household Size
35
Median Age
43%
College-Educated
92%
High-School Grad
20.9 sq mi
ZIP Area
1,053
Density / Sq Mi
$87,114
Median Household Income
$52,202
Median Earnings
$1,018
Median Rent
$365,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit property under construction with spacious residences, private outdoor areas, and public utilities.
Where is this quadplex located?
The property is located at 5000 E 54th St Sioux Falls, SD.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: Four‑unit quadplex with each residence offering 3 bedrooms and 3.5 bathrooms; Each unit includes 2,470 sq ft of living space and a main‑level den; Walkout patios and second‑story decks provide private outdoor areas
