Multi-Tenant Office
For Sale
$695,000
5517 N Cliff Ave, Sioux Falls, SD 57104
The renovated interior supports one occupant or as many as three separate businesses.
Property Size3,900 SF
Price / SF$182.89
Days on Market40
Property Features for 5517 N Cliff Ave
General Information
Standard status
Active
Size
3,900 SF
Property subtype
Commercial
Space & Availability
Condition
Newly Renovated
Furnished
Yes
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Property Use
Office
Amenities
break room
security system
Building Details
Year Built
1955
Buildings
1
Building Size
3,900 SF
Listing Agency:
Hegg, REALTORS
Listed By:
Mark Tassler OFFICE
Source:
Siouxfallsareahomesearch
Added: Sep 16
Changed: Oct 25
Last Checked: Oct 25 at 2:49AM
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 Hegg, REALTORS
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Investment Insights
Based on property information with market context.
Renovated inside and out, this office building offers a large reception area, private offices, and two open work areas with cubicles ready for assembly. Its layout can serve one occupant or be divided among as many as three tenants. The building dates to 1955.
Located on North Cliff Avenue beside I-90, the property includes Ethernet outlets throughout and cameras in place for a security system. Shared amenities include a break room, separate men's and women's restrooms, and storage space.
Located on North Cliff Avenue beside I-90, the property includes Ethernet outlets throughout and cameras in place for a security system. Shared amenities include a break room, separate men's and women's restrooms, and storage space.
Key Highlights
- Renovated inside and out
- Layout accommodates one occupant or up to three tenants
- Large reception area, private offices, and two open areas with ready‑to‑assemble cubicles
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$50,873
Cap Rate
7.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,017,460
$1.0M
Cap Rate 7%
$726,757
$726.8K
Cap Rate 9%
$565,256
$565.3K
Market Conditions
NOI Build-Up for 3,800 SF
Gross rent
$79.8K $21.00/SF
− Vacancy
−$12.0K −$3.15/SF
EGI
$67.8K $17.85/SF
− OpEx
−$17.0K −$4.46/SF
NOI
$50.9K $13.39/SF
Area
Sioux Falls, SD
Vacancy
15.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,017,460
Cap Rate 7%
$726,757
Cap Rate 9%
$565,256
Alternative Uses
Best Use
Office B
$726.8K
$635.9K – $847.9K
NOI $50,873 @ 7.0% cap · market cap 7.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.03M
$902.9K – $1.20M
NOI $72,230 @ 7.0% cap · market cap 10.39%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
165
Businesses Nearby
Explore this area
Business Placement
Demographics for 57104, SD
26,998
Population
13,952
Households
1.9
Avg Household Size
37
Median Age
25%
College-Educated
90%
High-School Grad
30.4 sq mi
ZIP Area
888
Density / Sq Mi
$59,161
Median Household Income
$39,101
Median Earnings
$849
Median Rent
$183,700
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office building - The renovated interior supports one occupant or as many as three separate businesses.
Where is this office building located?
The property is located at 5517 N Cliff Ave Sioux Falls, SD.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: Renovated inside and out; Layout accommodates one occupant or up to three tenants; Large reception area, private offices, and two open areas with ready‑to‑assemble cubicles
