Office Building with Expansion
For Sale
$3,100,000
5929 S Mogen Avenue, Sioux Falls, SD 57108
Office building with expansion possibilities, configured for call center use.
Property Size14,400 SF
Price / SF$215.28
Days on Market187
Property Features for 5929 S Mogen Avenue
General Information
Standard status
Active
Size
14,400 SF
Property subtype
Office
Building Details
Year Built
1997
Listing Agency:
NAI | Sioux Falls
(605) 310-6666
Listed By:
Dennis Breske, MBA, CCIM, SIOR · License #SD - 18471
(605) 310-6666
Source:
Naiglobal
Added: Jan 27
Changed: Jul 6
Last Checked: Aug 2 at 7:11AM
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
Investment Insights
Based on property information with market context.
The property is currently configured for office and call center use. The main level encompasses 14,400 square feet, complemented by a lower level with 3,530 square feet. The existing systems furniture will be removed. There is an opportunity to convert the building into a multi-tenant structure. Furthermore, the property includes an additional 60,000 square feet of land, suitable for expansion, future development, or equity development for the buyer. The current lease expires on January 31, 2024.
Key Highlights
- Additional 60,000 SF of land for expansion, future development, or equity development.
- Ability to convert into a multi‑tenant building.
- Large main level with 14,400 SF.
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $302.4k | $21.00 |
| − Vacancy | −$45.4k | −$3.15 |
| EGI | $257.0k | $17.85 |
| − OpEx | −$64.3k | −$4.46 |
| NOI | $192.8k | $13.39 |
14,400 SF · lease $21.00/SF/yr · vacancy 15.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$2.75M
$2.41M – $3.21M
NOI $192,780 @ 7.0% cap · market cap 6.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.91M
$3.42M – $4.56M
NOI $273,715 @ 7.0% cap · market cap 8.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,006
Businesses Nearby
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 Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Office building with expansion possibilities, configured for call center use.
Where is this office building located?
The property is located at 5929 S Mogen Avenue 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: Additional 60,000 SF of land for expansion, future development, or equity development.; Ability to convert into a multi‑tenant building.; Large main level with **14,400 SF**.
