Office Building with Call Center
For Sale
Contact for pricing
5929 S Mogen Ave, Sioux Falls, SD 57108
Multi-level office/call center facility configured for office use with conversion potential to multi-tenant occupancy.
Property Size17,930 SF
Price / SF$172.89
Days on Market1063
Property Features for 5929 S Mogen Ave
General Information
Standard status
Active
Size
17,930 SF
Class
B
Total Parking Spaces
125
Property subtype
Office
Lease Type
NNN
Additional Details
Furnished
No
Building Details
Year Built
1997
Buildings
1
Tenancy
Multi
Listing Agency:
NAI Sioux Falls
Listed By:
Dennis Breske · License #SD 4409
(605) 310-6666
Source:
Crexi
Added: Dec 4, 2023
Changed: Oct 25
Last Checked: Oct 30 at 11:35AM
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 NAI Sioux Falls
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Investment Insights
Based on property information with market context.
This office building includes a main level of 14,400 SF and a lower level of 3,530 SF, for a total of 17,930 SF. The property is currently configured for office/call center use and offers the ability to convert into a multi-tenant building. Existing systems furniture will be removed.
The current lease expires 1-31-2024. In addition, the offering includes additional 60,000 SF of land for expansion, future development, or equity development for the buyer.
With its current layout and available acreage, the property provides a functional office base with options to reimagine the space for multiple tenants, depending on how you plan to use the building and the included land.
The current lease expires 1-31-2024. In addition, the offering includes additional 60,000 SF of land for expansion, future development, or equity development for the buyer.
With its current layout and available acreage, the property provides a functional office base with options to reimagine the space for multiple tenants, depending on how you plan to use the building and the included land.
Key Highlights
- 14,400 SF main level office/call center configuration
- 3,530 SF lower level for additional office/call center space
- Total building size: 17,930 SF
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$240,038
Cap Rate
7.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,800,760
$4.8M
Cap Rate 7%
$3,429,114
$3.4M
Cap Rate 9%
$2,667,089
$2.7M
Market Conditions
NOI Build-Up for 17,930 SF
Gross rent
$376.5K $21.00/SF
− Vacancy
−$56.5K −$3.15/SF
EGI
$320.1K $17.85/SF
− OpEx
−$80.0K −$4.46/SF
NOI
$240.0K $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%
$4,800,760
Cap Rate 7%
$3,429,114
Cap Rate 9%
$2,667,089
Alternative Uses
Best Use
Office B
$3.43M
$3.00M – $4.00M
NOI $240,038 @ 7.0% cap · market cap 7.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.87M
$4.26M – $5.68M
NOI $340,813 @ 7.0% cap · market cap 10.99%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,006
Businesses Nearby
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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
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office building - Multi-level office/call center facility configured for office use with conversion potential to multi-tenant occupancy.
Where is this office building located?
The property is located at 5929 S Mogen Ave Sioux Falls, SD.
What is the asking price?
The asking price for this property is $3,100,000.
What are key features of this property?
This property features: 14,400 SF main level office/call center configuration; 3,530 SF lower level for additional office/call center space; Total building size: 17,930 SF
