Steel Warehouse on Commercial
For Sale
Contact for pricing
5010 S Southeastern Avenue, Sioux Falls, SD 57108
2-acre commercial land with an existing steel building and visibility along Southeastern Avenue in Sioux Falls.
Property Size5,000 SF
Lot Size2.00 Acres
Price / SF$250
Days on Market61
Property Features for 5010 S Southeastern Avenue
General Information
Standard status
Active
Size
5,000 SF
Lot size
2.00 Acres
Property subtype
Land
Zoning
AG
Building Details
Buildings
1
Construction
steel building
Listing Agency:
Van Buskirk Companies
Listed By:
Autumn Kaufhold · License #SD 18251
(605) 361-8211
Source:
Crexi
Added: Jul 9
Changed: Aug 22
Last Checked: Sep 7 at 11:20AM
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 Van Buskirk Companies
Investment Insights
Based on property information with market context.
This 2-acre property at 5010 S. Southeastern Avenue in Sioux Falls includes an existing steel building and mature tree cover, creating a private, park-like setting on the site. The property can be utilized as-is today or considered for redevelopment in the future, depending on a buyer’s plans.
Located near the intersection of 57th Street and Southeastern Avenue, the site offers visibility along Southeastern Avenue. The surrounding area is described as established, with a blend of commercial and residential development, providing context for continued use or redevelopment of the ground.
Located near the intersection of 57th Street and Southeastern Avenue, the site offers visibility along Southeastern Avenue. The surrounding area is described as established, with a blend of commercial and residential development, providing context for continued use or redevelopment of the ground.
Key Highlights
- 2‑acre commercial land site near the intersection of 57th Street and Southeastern Avenue in Sioux Falls
- Existing steel building on the property
- Visibility along Southeastern Avenue
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
$43,949
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
3.52%
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%
$878,980
$879.0K
Cap Rate 7%
$627,843
$627.8K
Cap Rate 9%
$488,322
$488.3K
Market Conditions
NOI Build-Up for 5,000 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
$54.0K $10.80/SF
− Vacancy
−$2.3K −$0.46/SF
EGI
$51.7K $10.34/SF
− OpEx
−$7.8K −$1.55/SF
NOI
$43.9K $8.79/SF
Area
Sioux Falls, SD
Vacancy
4.25%
Lease Rate
$10.80 /SF/Yr
Expense Ratio
15.00%
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%
$878,980
Cap Rate 7%
$627,843
Cap Rate 9%
$488,322
Alternative Uses
Best Use
Warehouse
$627.8K
$549.4K – $732.5K
NOI $43,949 @ 7.0% cap · market cap 3.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.36M
$1.19M – $1.58M
NOI $95,040 @ 7.0% cap · market cap 7.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
185
Businesses Nearby
Under-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
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Frequently Asked Questions
What type of property is this?
Warehouse - 2-acre commercial land with an existing steel building and visibility along Southeastern Avenue in Sioux Falls.
Where is this warehouse located?
The property is located at 5010 S Southeastern Avenue Sioux Falls, SD.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 2‑acre commercial land site near the intersection of 57th Street and Southeastern Avenue in Sioux Falls; Existing steel building on the property; Visibility along Southeastern Avenue
