Flex Industrial Building with
For Sale
Contact for pricing
840-44 Gordon, Sioux City, IA 51101
Multi-functional commercial facility combining showroom, warehouse, loading, and storage components under BP zoning.
Property Size45,673 SF
Price / SF$100.17
Days on Market9
Property Features for 840-44 Gordon
General Information
Standard status
Active
Size
45,673 SF
Property subtype
Industrial, Retail
Zoning
BP
Building Details
Year Built
1998
Year Renovated
2023
Buildings
1
Tenancy
Single
Listing Agency:
NAI United
(712) 204-6261
Listed By:
Chris Bogenrief, SIOR, CCIM, MBA · License #B43451000
Source:
Crexi
Added: Aug 3
Changed: Aug 10
Last Checked: Aug 11 at 6:16PM
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 45,673-square-foot flex facility combines showroom, warehouse, loading, and storage functions. The 23,925-square-foot original building includes a 9,160-square-foot mezzanine, 17' 1" clear height, air conditioning, a west-facing entrance, one 12' x 14' drive-in door, and four dock positions. A separate 5,000-square-foot kitchen and bath showroom has its own north entrance.
The 19,730-square-foot warehouse addition was completed in 2023 with insulated architectural metal panel construction. Clear heights reach 26' 7" at the peak and 22' 10" at the eave. The addition includes a 4,231-square-foot mezzanine, heating, floor drains, a grease separator, and a 14' by 24' drive-in door. The property is fully sprinklered and has 600 amp and 100 amp electrical service, with underground stormwater detention beneath the parking lot. Located at 840-44 Gordon and 925-925 1/2 Dace in Sioux City, the property faces I-29 at Virginia and Gordon.
The 19,730-square-foot warehouse addition was completed in 2023 with insulated architectural metal panel construction. Clear heights reach 26' 7" at the peak and 22' 10" at the eave. The addition includes a 4,231-square-foot mezzanine, heating, floor drains, a grease separator, and a 14' by 24' drive-in door. The property is fully sprinklered and has 600 amp and 100 amp electrical service, with underground stormwater detention beneath the parking lot. Located at 840-44 Gordon and 925-925 1/2 Dace in Sioux City, the property faces I-29 at Virginia and Gordon.
Key Highlights
- 45,673 SF flex facility with showroom, warehouse, loading, and storage areas
- 23,925 SF original building with 9,160 SF storage mezzanine and 17' 1" clear height
- 19,730 SF warehouse addition completed in 2023
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
Location Intelligence
Trade Area within ½ mile
1,617
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 - Multi-functional commercial facility combining showroom, warehouse, loading, and storage components under BP zoning.
Where is this flex space located?
The property is located at 840-44 Gordon 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: 45,673 SF flex facility with showroom, warehouse, loading, and storage areas; 23,925 SF original building with 9,160 SF storage mezzanine and 17' 1" clear height; 19,730 SF warehouse addition completed in 2023
