Renovated Golf-Front Office
For Sale
$1,198,400
600 E TAN TARA Cir, Sioux Falls, SD 57108
COMMERCIAL, Sioux Falls, SD
Property Size2,942 SF
Lot Size0.42 Acres
Price / SF$407.34
Days on Market189
Property Features for 600 E TAN TARA Cir
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
O- Office, The buyers sho
Security features
Security Lighting
Subdivision
Prairie Green Addn
Directions
Minnesota & 69th St, East to Tan Tara Cir, go North then west on Tan Tara Cir to the property.
Standard status
Active
APN
280.23.13.004
Size
2,942 SF
Lot size
0.42 Acres
Taxes and HOA fees
Tax Description
Lot 4 Block 13 prairie green add to the city of Sioux Falls
Tax Annual Amount
9470
Legal Description
Lot 4 Block 13 prairie green add to the city of Sioux Falls
Utilities
Utilities
Water Available
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1997
Flooring type
Tile, Carpet, Wood
Building materials
Frame, Masonry
Roof type
Composition
Listing Agency:
Midwest Realty
(605) 256-6921
Listed By:
Christopher Thompson
(605) 480-3061
Added: Mar 3
Changed: Sep 8
Last Checked: Sep 8 at 8:06AM
MLS# 22601434
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 office property at 600 E Tan Tara Circle contains 2,942 square feet on a 0.4194-acre lot. Built in 1997 and recently renovated and upgraded inside and out, the building combines frame and masonry construction with tile, carpet, and wood flooring. Central heating and central air support the interior, while a composition roof and available water service are also reported.
The property overlooks the 18th green and has golf-course frontage within a professional corridor surrounded by established medical and professional offices. Its Sioux Falls location provides access to major arterial roads, downtown, retail, and executive residential neighborhoods. O- Office zoning is identified in the property information.
The property overlooks the 18th green and has golf-course frontage within a professional corridor surrounded by established medical and professional offices. Its Sioux Falls location provides access to major arterial roads, downtown, retail, and executive residential neighborhoods. O- Office zoning is identified in the property information.
Key Highlights
- 2,942‑square‑foot office property on a 0.4194‑acre lot
- Golf‑course frontage overlooking the 18th green
- Interior and exterior renovations and upgrades completed
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
$39,386
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
3.29%
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%
$787,720
$787.7K
Cap Rate 7%
$562,657
$562.7K
Cap Rate 9%
$437,622
$437.6K
Market Conditions
NOI Build-Up for 2,942 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
$61.8K $21.00/SF
− Vacancy
−$9.3K −$3.15/SF
EGI
$52.5K $17.85/SF
− OpEx
−$13.1K −$4.46/SF
NOI
$39.4K $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 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%
$787,720
Cap Rate 7%
$562,657
Cap Rate 9%
$437,622
Alternative Uses
Best Use
Office B
$562.7K
$492.3K – $656.4K
NOI $39,386 @ 7.0% cap · market cap 3.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$798.9K
$699.0K – $932.0K
NOI $55,922 @ 7.0% cap · market cap 4.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
745
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 - Professional office property with updated interiors, exterior improvements, and a setting overlooking the 18th green.
Where is this office building located?
The property is located at 600 E TAN TARA Cir Sioux Falls, SD.
What is the asking price?
The asking price for this property is $1,198,400.
What are key features of this property?
This property features: 2,942‑square‑foot office property on a 0.4194‑acre lot; Golf‑course frontage overlooking the 18th green; Interior and exterior renovations and upgrades completed
