840-44 Gordon & 925-925 1/2 Dace, Sioux City, IA 51101

Building Details

Building Size 45,673 SF More

Year Built 1998 More

Year Renovated 2023 More

Listing Agency: NAI United

Listed By: Chris Bogenrief, SIOR, CCIM, MBA · License IA #11318 Show Phone

Source: Naiunited

Added: Aug 8 Changed: Nov 10 Last Checked: Nov 12 at 4:54AM

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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

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Review the available facts, identify missing information and prepare questions for the agent.

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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.

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 / Yr

$272,810

Cap Rate

5.96%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$5,456,200 $5.5M

Cap Rate 7%

$3,897,286 $3.9M

Cap Rate 9%

$3,031,222 $3.0M

Is this asking price fair?

Market Conditions

NOI Build-Up for 45,673 SF

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 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 (±1% cap)

NOI $453,142 @ 7.0% cap · market cap 9.90%

Second Best

Warehouse

$3.90M

$3.41M – $4.55M (±1% cap)

NOI $272,810 @ 7.0% cap · market cap 5.96%

Theoretical Best

Specialty Retail

$6.86M

$6.01M – $8.01M (±1% cap)

NOI $480,423 @ 7.0% cap · market cap 10.50%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Flex space

Suggested Use

Top Pick Dental Office (Bike/Boat/Book/etc) Store Veterinary Clinic Grocery & Convenience Store Carpet & Flooring Store Pet Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

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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