Flex Property With
New
For Sale
$4,575,000
840-44 Gordon & 925-925 1/2 Dace, Sioux City, IA 51101
Updated commercial space combines warehouse capacity with separate plumbing and kitchen-and-bath showroom areas.
Property Size45,673 SF
Days on Market4
Property Features for 840-44 Gordon & 925-925 1/2 Dace
General Information
Standard status
Active
Size
45,673 SF
Property subtype
Warehouse & Showroom
Site & Location
Corner Location
Yes
Highway Access
Yes
Road Access
Yes
Building Details
Building Size
45,673 SF
Year Built
1998
Year Renovated
2023
Listing Agency:
NAI United
(712) 204-6261
Listed By:
Chris Bogenrief, SIOR, CCIM, MBA · License #B43451000
(712) 204-6261
Source:
Naiunited
Added: Aug 8
Changed: Aug 10
Last Checked: Aug 11 at 5:19AM
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 United
Investment Insights
Based on property information with market context.
This flex property includes a plumbing wholesale showroom and warehouse, along with a distinct retail kitchen-and-bath showroom. The two showroom components have separate entrances, with access from the west and north sides of the building. A warehouse expansion and dock addition were completed in 2023, complementing the original 1998 construction.
The property is positioned at the intersection of Virginia and Gordon in downtown Sioux City, with frontage facing I-29. Its configuration brings showroom, warehouse, and loading functions together within one commercial asset.
The property is positioned at the intersection of Virginia and Gordon in downtown Sioux City, with frontage facing I-29. Its configuration brings showroom, warehouse, and loading functions together within one commercial asset.
Key Highlights
- Plumbing wholesale showroom and warehouse configuration
- Separate retail kitchen‑and‑bath showroom with its own north entrance
- West entrance serving the plumbing showroom and warehouse area
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
$272,810
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
5.96%
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%
$5,456,200
$5.5M
Cap Rate 7%
$3,897,286
$3.9M
Cap Rate 9%
$3,031,222
$3.0M
Market Conditions
NOI Build-Up for 45,673 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
$334.3K $7.32/SF
− Vacancy
−$13.4K −$0.29/SF
EGI
$321.0K $7.03/SF
− OpEx
−$48.1K −$1.05/SF
NOI
$272.8K $5.97/SF
Area
Woodbury County, IA
Vacancy
4.00%
Lease Rate
$7.32 /SF/Yr
Expense Ratio
15.00%
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%
$5,456,200
Cap Rate 7%
$3,897,286
Cap Rate 9%
$3,031,222
Alternative Uses
Best Use
Retail
$6.47M
$5.66M – $7.55M
NOI $453,142 @ 7.0% cap · market cap 9.90%
Second Best
Warehouse
$3.90M
$3.41M – $4.55M
NOI $272,810 @ 7.0% cap · market cap 5.96%
Theoretical Best
Specialty Retail
$6.86M
$6.01M – $8.01M
NOI $480,423 @ 7.0% cap · market cap 10.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,505
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 51101, IA
1,146
Population
723
Households
1.6
Avg Household Size
39
Median Age
11%
College-Educated
84%
High-School Grad
1.2 sq mi
ZIP Area
955
Density / Sq Mi
$18,103
Median Household Income
$25,661
Median Earnings
$676
Median Rent
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 - Updated commercial space combines warehouse capacity with separate plumbing and kitchen-and-bath showroom areas.
Where is this flex space located?
The property is located at 840-44 Gordon & 925-925 1/2 Dace Sioux City, IA.
What is the asking price?
The asking price for this property is $4,575,000.
What are key features of this property?
This property features: Plumbing wholesale showroom and warehouse configuration; Separate retail kitchen‑and‑bath showroom with its own north entrance; West entrance serving the plumbing showroom and warehouse area
