Two-Building Flex
For Sale
Contact for pricing
801 E 50TH ST N, Sioux Falls, SD 57104
Two structures combine office, kitchenette, restroom, and heated garage functions for varied industrial operations.
Property Size6,688 SF
Lot Size2.07 Acres
Price / SF$160.74
Days on Market127
Property Features for 801 E 50TH ST N
General Information
Standard status
Active
Size
6,688 SF
Lot size
2.07 Acres
Property subtype
Office, Mixed Use, Industrial
Additional Details
Utilities to Site
Yes
Building Details
Year Built
1979
Buildings
2
Stories
1
Units
1
Listing Agency:
Harr-Lemme Commercial Real Estate
(605) 371-0332
Listed By:
Paul Gourley · License #SD 765511107
Source:
Crexi
Added: Apr 28
Changed: Aug 31
Last Checked: Aug 31 at 4:27AM
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 Harr-Lemme Commercial Real Estate
Investment Insights
Based on property information with market context.
This flex property includes two buildings totaling 6,688 square feet on a 2.07-acre site with paved and grass yard areas. The 4,000-square-foot building, constructed in 1979, includes reception and office space, a kitchenette, two private restrooms, a flex or mixed-use room, and a large heated garage. Seven overhead commercial doors provide access from both the east and west sides.
Built in 2021, the 2,688-square-foot second building offers an open-concept interior with modern finishes, a private restroom, kitchenette, two overhead commercial doors, and an in-floor drain system. City water and sewer serve the property. Building equipment includes a stereo system, hose reel, wall vacuum, shelving, camera system, and power washer. Three semi trailers are also available for purchase.
Built in 2021, the 2,688-square-foot second building offers an open-concept interior with modern finishes, a private restroom, kitchenette, two overhead commercial doors, and an in-floor drain system. City water and sewer serve the property. Building equipment includes a stereo system, hose reel, wall vacuum, shelving, camera system, and power washer. Three semi trailers are also available for purchase.
Key Highlights
- 2.07‑acre site with paved and grass yard areas
- 6,688 square feet across two industrial buildings
- 4,000‑square‑foot building constructed in 1979
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
$68,651
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
6.39%
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%
$1,373,020
$1.4M
Cap Rate 7%
$980,729
$980.7K
Cap Rate 9%
$762,789
$762.8K
Market Conditions
NOI Build-Up for 6,688 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
$112.4K $16.80/SF
− Vacancy
−$6.7K −$1.01/SF
EGI
$105.6K $15.79/SF
− OpEx
−$37.0K −$5.53/SF
NOI
$68.7K $10.26/SF
Area
Sioux Falls, SD
Vacancy
6.00%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
35.00%
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%
$1,373,020
Cap Rate 7%
$980,729
Cap Rate 9%
$762,789
Alternative Uses
Best Use
Flex RnD
$980.7K
$858.1K – $1.14M
NOI $68,651 @ 7.0% cap · market cap 6.39%
Second Best
Warehouse
$839.8K
$734.8K – $979.8K
NOI $58,787 @ 7.0% cap · market cap 5.47%
Theoretical Best
Office A
$1.82M
$1.59M – $2.12M
NOI $127,126 @ 7.0% cap · market cap 11.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
370
Businesses Nearby
Well-served
Demand for This Use
Explore this area
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
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Two structures combine office, kitchenette, restroom, and heated garage functions for varied industrial operations.
Where is this flex space located?
The property is located at 801 E 50TH ST N Sioux Falls, SD.
What is the asking price?
The asking price for this property is $1,075,000.
What are key features of this property?
This property features: 2.07‑acre site with paved and grass yard areas; 6,688 square feet across two industrial buildings; 4,000‑square‑foot building constructed in 1979
