Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    East Bank Office/Retail Space Title is generated by Realmo AI

    121 S Franklin Ave, Sioux Falls, SD 57103

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Reclaimed office/retail space in Sioux Falls' East Bank sector.

    Type:Office, Retail
    Added:
    Aug 29, 2022
    Days on Market:
    1353
    Last Refresh:
    Mar 17 at 1:14 pm

    Property Features for 121 S Franklin Ave

    General Information

    Standard status
    Active
    Property subtype
    Office, Retail

    Building Details

    Year Built
    1990

    Spaces For Lease

    at 121 S Franklin Ave Contact us

    Suite 3 $21 /Mo

    Size
    2,415 SF
    Type
    Office, Retail
    Reclaimed office space located in the East Bank sector near downtown Sioux Falls....
    show more
    Contact us

    Suite 2 $21 /Mo

    Size
    2,432 SF
    Type
    Office, Retail
    Reclaimed office space located in the East Bank sector near downtown Sioux Falls....
    show more
    Contact us

    We can help!

    Listing Contact
    Isaac Jorgensen
    Isaac Jorgensen

    Listing agent Isaac Jorgensen License #SD 20285

    Listing office Bender Commercial

    Listing date Aug 29, 2022

    Source Crexi

    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 Bender Commercial

    HighLights

    • Newly reclaimed office space in the East Bank sector near downtown Sioux Falls.
    • On‑site parking with a 1:308 ratio.
    • Building signage available.
    • Great visibility.
    • Daily traffic count of 10,900 vehicles.
    • Year Built: 1990.

    Overview

    This newly reclaimed office space is situated in the East Bank sector, near downtown Sioux Falls. The property offers on-site parking at a ratio of 1:308. Building signage is available. The location benefits from high visibility, with a daily traffic count of 10,900 vehicles.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Lockwood & Zahrbock Kool ... Law Firm Lockwood Attorneys Law Firm Farmhouse Market Department Store

    Suggested Use

    Restaurant Real Estate Agency Building Supply Dental Office Spa & Massage Center Law Firm Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    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
    -96.7175916
    Latitude
    43.5468355

    Nearby Similar for Lease

    • Sponsored
      Contact for pricing

      CNA Building

      101 Reid St, Unit 307, Sioux Falls, SD 57103
      View Details
    • $5,990/Mo

      Versatile Industrial Space with Drive-Through

      Industrial space featuring drive-through doors, in-floor heating, and secure parking.
      25735 Cottonwood Avenue, Sioux Falls, SD 57107
      View Details
    • $700/Mo

      Executive Office with Window

      Office space for rent featuring a common conference room.
      108 E. 38th Street, Sioux Falls, SD 57105
      View Details
    • $10 SF/Yr

      Office Space Available For Rent

      3,400 sq ft office space available 5/30/2025.
      4100 S. Elmwood Place, Sioux Falls, SD 57105
      View Details
    • Contact for pricing

      Sioux Falls Flex Space

      16,000 SF flex space with showroom and storage.
      5620 W. 9th Street, Sioux Falls, SD 57107
      View Details
    • Contact for pricing

      Highly Visible Retail Location Available

      Retail spaces with flexible size options and excellent access.
      2524-2530 S. Louise Avenue, Sioux Falls, SD 57106
      View Details
    • Contact for pricing

      Highly Visible Retail Location

      Retail space with excellent access and flexible size options.
      2524-2530 S. Louise Avenue, Sioux Falls, SD 57106
      View Details
    • Contact for pricing

      Executive Suites For Rent

      Executive suites available for rent with included utilities.
      4320 South Louise Avenue, Sioux Falls, SD 57106
      View Details
    • Contact for pricing

      Executive Suites For Rent

      Executive suites available for rent, utilities included.
      4320 South Louise Avenue, Sioux Falls, SD 57106
      View Details
    • $400/Mo

      Small Office Suites For Lease

      Small office suites available for lease with flexible lease terms.
      100 N Krohn Pl, Sioux Falls, SD 57103
      View Details
    • $600/Mo

      Downtown Sioux Falls Office Space

      Historic office space in vibrant downtown Sioux Falls. Available 2025.
      126 S Phillips Ave, Sioux Falls, SD
      View Details
    • $18 SF/Yr

      Retail Showroom Space Available

      Spacious showroom with storage in Lake Lorraine area.
      2320 S Marion Rd, Sioux Falls, SD
      View Details

    FAQs

    What type of property is this?
    Office units - Reclaimed office/retail space in Sioux Falls' East Bank sector.
    Where is this office units located?
    The property is located at 121 S Franklin Ave Sioux Falls, SD.
    What are key features of this property?
    This property features: Newly reclaimed office space in the East Bank sector near downtown Sioux Falls.; On‑site parking with a 1:308 ratio.; Building signage available.
    (605) 336-7600 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Isaac Jorgensen
    Isaac Jorgensen
    Real Estate License ID: SD 20285
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    121 S Franklin Ave, Sioux Falls, SD 57103
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!