Two-Unit Duplex with
For Sale
$320,000
908 S Blaine Ave, Sioux Falls, SD 57103
AD1-zoned property includes a commercial fire system and two main-level residences.
Property Size2,550 SF
Price / SF$125.49
Days on Market140
Property Features for 908 S Blaine Ave
General Information
Standard status
Active
Size
2,550 SF
Property subtype
Multi-Family
Zoning
AD1
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1972
Listing Agency:
Alpine Residential
Listed By:
Brett Sichmeller
(605) 351-2981
Source:
Siouxfallsareahomesearch
Added: Jun 7
Changed: Oct 1
Last Checked: Oct 23 at 7:51AM
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 Alpine Residential
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Investment Insights
Based on property information with market context.
Built in 1972, this duplex contains two main-level residences, each with two bedrooms and one bathroom. The property includes paved off-street parking and a commercial fire system, with AD1 zoning identified for daycare or nonprofit use. A lower-level unit may be added, subject to applicable requirements.
Located at 908 S Blaine Ave in Sioux Falls, the property is offered alongside a neighboring triplex that is also available for purchase. The adjacent offering may allow a buyer to evaluate both properties together while retaining the duplex’s existing two-unit configuration.
Located at 908 S Blaine Ave in Sioux Falls, the property is offered alongside a neighboring triplex that is also available for purchase. The adjacent offering may allow a buyer to evaluate both properties together while retaining the duplex’s existing two-unit configuration.
Key Highlights
- Two 2‑bedroom, 1‑bath units on the main level
- AD1 zoning identified for daycare or nonprofit use
- Commercial fire system included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,261
Cap Rate
6.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$445,220
$445.2K
Cap Rate 7%
$318,014
$318.0K
Cap Rate 9%
$247,344
$247.3K
Market Conditions
NOI Build-Up for 2,550 SF
Gross rent
$35.2K $13.80/SF
− Vacancy
−$3.4K −$1.33/SF
EGI
$31.8K $12.47/SF
− OpEx
−$9.5K −$3.74/SF
NOI
$22.3K $8.73/SF
Area
Sioux Falls, SD
Vacancy
9.63%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$445,220
Cap Rate 7%
$318,014
Cap Rate 9%
$247,344
Alternative Uses
Best Use
Multifamily LT 5
$318.0K
$278.3K – $371.0K
NOI $22,261 @ 7.0% cap · market cap 6.96%
Second Best
Apartment 5plus
$291.7K
$255.2K – $340.3K
NOI $20,417 @ 7.0% cap · market cap 6.38%
Theoretical Best
Office A
$692.4K
$605.9K – $807.8K
NOI $48,470 @ 7.0% cap · market cap 15.15%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
336
Businesses Nearby
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Business Placement
Demographics for 57103, SD
36,069
Population
15,326
Households
2.4
Avg Household Size
37
Median Age
33%
College-Educated
91%
High-School Grad
9.5 sq mi
ZIP Area
3,797
Density / Sq Mi
$73,945
Median Household Income
$43,661
Median Earnings
$938
Median Rent
$244,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - AD1-zoned property includes a commercial fire system and two main-level residences.
Where is this duplex located?
The property is located at 908 S Blaine Ave Sioux Falls, SD.
What is the asking price?
The asking price for this property is $320,000.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bath units on the main level; AD1 zoning identified for daycare or nonprofit use; Commercial fire system included
