Duplex with Detached
627 S 6th Ave, Sioux Falls, SD 57104
For Sale
$255,000
The duplex has month-to-month residential leases and four detached garage or storage units under annual leases.
Property Size1,162 SF
Price / SF$219.45
Days on Market172
Property Features for 627 S 6th Ave
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Additional Details
Multifamily Units
Tenant in Place
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Stories
Listing Agency:
Hegg, REALTORS
(605) 336-2100
Listed By:
Bryan Anfinson
(605) 670-9846
Source:
Davedaale
Added: May 20
Changed: Nov 7
Last Checked: Nov 7 at 2:41AM
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.
Built in 1890, this 1,162-square-foot duplex includes four detached garage or storage units. The residential tenants are on month-to-month leases, while each of the four ancillary units is leased annually. A replacement roof was installed in 2024.
The property is near downtown Sioux Falls and Avera McKennan Hospital, with access to the medical corridor.
The property is near downtown Sioux Falls and Avera McKennan Hospital, with access to the medical corridor.
Key Highlights
- Four detached garage or storage units, each leased on an annual term
- Duplex tenants occupy under month‑to‑month leases
- 1,162 square feet; built in 1890
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,144
Cap Rate
3.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$202,880
$202.9K
Cap Rate 7%
$144,914
$144.9K
Cap Rate 9%
$112,711
$112.7K
Market Conditions
NOI Build-Up for 1,162 SF
Gross rent
$16.0K $13.80/SF
− Vacancy
−$1.5K −$1.33/SF
EGI
$14.5K $12.47/SF
− OpEx
−$4.3K −$3.74/SF
NOI
$10.1K $8.73/SF
Area
Sioux Falls, SD
Vacancy
9.63%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$202,880
Cap Rate 7%
$144,914
Cap Rate 9%
$112,711
Alternative Uses
Best Use
Multifamily LT 5
$144.9K
$126.8K – $169.1K
NOI $10,144 @ 7.0% cap · market cap 3.98%
Second Best
Apartment 5plus
$132.9K
$116.3K – $155.1K
NOI $9,304 @ 7.0% cap · market cap 3.65%
Theoretical Best
Office A
$315.5K
$276.1K – $368.1K
NOI $22,087 @ 7.0% cap · market cap 8.66%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,602
Businesses Nearby
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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 Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - The duplex has month-to-month residential leases and four detached garage or storage units under annual leases.
Where is this duplex located?
The property is located at 627 S 6th Ave Sioux Falls, SD.
What is the asking price?
The asking price for this property is $255,000.
What are key features of this property?
This property features: Four detached garage or storage units, each leased on an annual term; Duplex tenants occupy under month‑to‑month leases; 1,162 square feet; built in 1890
