Property profile

500 E 56Th St Sioux Falls, SD 57104

OFF-MARKET
Flex space
Property ID
US79-Q001261
122,293 SF Built 1996
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Property summary

AI-generated overview

NAI Sioux Falls is pleased to offer for sale the 100% fee Simple interest in the Former Sioux Falls Citibank Campus, a 68.94 acre industrial development opportunity located in Sioux Falls, SD. The site is zoned I-1, light industrial, allowing warehousing and industrial uses, including new construction or redevelopment of the existing buildings. The site consists of three (3) existing interconnected office buildings of institutional building quality, providing at total of 369,424 square feet on two levels. The raised floor former call center space could be converted into conditioned self-storage, data centers, or light manufacturing. The former daycare building is 49,424 square feet and could be converted to a medical use. The excess land, 19.66 acres zoned light industrial, can yield four (4) separate buildings. Strategically located, the Former Sioux Falls Citibank Campus is located directly south of I-90 off the N. Cliff Avenue exit. The property is in a mature industrial park that offers access to both I-90 (east-west) and I-29 (north-south) travel corridors and the airport. South Dakota ranks #1 for corporate tax, #1 for individual income tax, and #2 overall for 2024 state business tax index, making it attractive for companies to grow. This property is being sold as separate buildings and land parcels or as a whole. Total campus price is $23,926,854 ($57.13/SF). Offers will be entertained as they are received.

Property profile

Verified
Property type Flex space
Year built 1996
Total area 122,293 SF
UPID US79-Q001261

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Pharmacy
  • Take-out & Catering Catering Service
  • High School
  • Corporate Office

Location

500 E 56Th St Sioux Falls, SD 57104
Sioux Falls metro
Google Maps

Value estimations

Realmo proprietary · 4 methods
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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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