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    Sioux Falls Specialty Property Title is generated by Realmo AI

    705 E 60th St N, Sioux Falls, SD 57104

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    For Sale
    $6,067,138

    Specialty property suitable for data center or industrial use.

    Type:Office
    Property size:
    124,103 SF
    Price / SF:
    $48/SF
    Added:
    Jan 27, 2026
    Days on Market:
    114
    Last Refresh:
    Apr 5 at 11:52 pm

    Property Features for 705 E 60th St N

    General Information

    Standard status
    Active
    Size
    124,103 SF
    Property subtype
    Office

    Building Details

    Year Built
    1983

    We can help!

    Listing Contact
    Gregg Brown, MBA, SIOR

    Listing agent Gregg Brown, MBA, SIOR

    Listing office

    Listing date Jan 27, 2026

    Source Siouxfallscommercial

    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 Gregg Brown, MBA, SIOR

    HighLights

    • High electric capacity: 2 Megawatts
    • Generator: 1375 KVA, Caterpillar 3512, covering full building systems
    • UPS: 500 KVA, Powerware 9315, covering critical systems
    • Fuel Tanks: 10,000 gallons, UST in cement vault, 3.5 days duration at full load
    • Proposed uses: Data Center/Industrial/Self Storage
    • Parking Spaces: 752

    Overview

    This 41-year-old specialty property in Sioux Falls, SD, offers a versatile space suitable for various uses, including data centers, industrial purposes, or self-storage. The current layout features an open plan, call center, and office configuration. The building has a land-to-building ratio of 1:5 and a total vacant space of 124,103 square feet. It includes 752 parking spaces, three dock doors, and one roll-up door. Vertical transportation is facilitated by one freight elevator and one passenger elevator. The building features a condenser water system and heat pumps for HVAC, a tar and gravel roof, and a tilt-up concrete exterior finish with a slab-on-grade foundation. Interior features include a finished ceiling height of 9 feet, slab-to-slab heights of 12 feet 4 inches on the first floor and 14 feet 10 inches on the second floor, and a column spacing of 30 feet. The flooring is a raised system at 16 inches. The property is equipped with a wet sprinkler system, a 500 KVA Powerware 9315 UPS covering critical systems with Enerys Wet Cells batteries, and a 1375 KVA Caterpillar 3512 generator covering full building systems. CER cooling is provided by CRAC Units/Liebert. The electric capacity is 2 megawatts, supported by UST fuel tanks in a cement vault with a total capacity of 10,000 gallons, providing a full load duration of 3.5 days.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Specialty properties

    Suggested Use

    Restaurant Real Estate Agency Dental Office Building Supply Hotel & Motel Big Box & Wholesale Store Skin Care Clinic Auto Parts Store Kitchen & Bath Showroom Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Sioux Falls
    County
    Lincoln
    State
    South Dakota
    Longitude
    -96.7189
    Latitude
    43.6011

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    FAQs

    What type of property is this?
    Specialty property - Specialty property suitable for data center or industrial use.
    Where is this specialty property located?
    The property is located at 705 E 60th St N Sioux Falls, SD.
    What is the asking price?
    The asking price for this property is $6,067,138.
    What are key features of this property?
    This property features: High electric capacity: 2 Megawatts; Generator: 1375 KVA, Caterpillar 3512, covering full building systems; UPS: 500 KVA, Powerware 9315, covering critical systems
    (605) 906-0394
    We can help!
    Listing Contact
    Gregg Brown, MBA, SIOR
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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