Drive-Through Restaurant
For Sale
$500,000
910 Gordon Dr Sioux, Sioux City, IA 51101
Existing restaurant improvements with drive-through capability and access from Gordon Drive near I-29.
Property Size3,864 SF
Days on Market169
Property Features for 910 Gordon Dr Sioux
General Information
Standard status
Active
Size
3,864 SF
Property subtype
Restaurant
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Building Size
3,864 SF
Year Built
1977
Listing Agency:
NAI United
(712) 204-6261
Listed By:
Chris Bogenrief, SIOR, CCIM, MBA · License #11318
(712) 204-6261
Source:
Thebrokerlist
Added: Mar 16
Changed: Aug 29
Last Checked: Aug 29 at 9:04PM
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 drive-through restaurant building, constructed in 1977, is offered in its existing as-is condition. The property can also be demolished if redevelopment better suits the intended use. A new long-term NNN ground lease with the seller is required as part of the transaction.
The site is positioned just off I-29 near the Floyd Boulevard and Virginia Street exits in downtown Sioux City, with full access to Gordon Drive. Reported vehicle counts are 14,200 vehicles per day on Gordon Drive, 11,400 on Virginia Street, and 30,100 on I-29. Nearby businesses include Maverik, Arby's, IHOP, Scooter's, Chili's, Perkins, and Famous Dave's.
The site is positioned just off I-29 near the Floyd Boulevard and Virginia Street exits in downtown Sioux City, with full access to Gordon Drive. Reported vehicle counts are 14,200 vehicles per day on Gordon Drive, 11,400 on Virginia Street, and 30,100 on I-29. Nearby businesses include Maverik, Arby's, IHOP, Scooter's, Chili's, Perkins, and Famous Dave's.
Key Highlights
- Drive‑through restaurant building constructed in 1977
- Offered in as‑is condition with demolition permitted if needed
- Full access to Gordon Drive
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
$40,644
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
8.13%
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%
$812,880
$812.9K
Cap Rate 7%
$580,629
$580.6K
Cap Rate 9%
$451,600
$451.6K
Market Conditions
NOI Build-Up for 3,864 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
$58.0K $15.00/SF
− Vacancy
−$3.8K −$0.98/SF
EGI
$54.2K $14.03/SF
− OpEx
−$13.5K −$3.51/SF
NOI
$40.6K $10.52/SF
Area
Woodbury County, IA
Vacancy
6.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
25.00%
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%
$812,880
Cap Rate 7%
$580,629
Cap Rate 9%
$451,600
Alternative Uses
Best Use
Specialty Retail
$580.6K
$508.1K – $677.4K
NOI $40,644 @ 7.0% cap · market cap 8.13%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,617
Businesses Nearby
55k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 51%
Shops & Services 49%
Kum & Go
Shops & Services
24,845 visits/mo
0.2 miles
Perkins Restaurant & Bakery
Dining
12,378 visits/mo
0.3 miles
Scooter's Coffee
Dining
9,728 visits/mo
0.2 miles
Hardee's
Dining
6,151 visits/mo
0.1 miles
Sinclair
Shops & Services
1,976 visits/mo
0.5 miles
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 Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Drive through restaurant - Existing restaurant improvements with drive-through capability and access from Gordon Drive near I-29.
Where is this drive through restaurant located?
The property is located at 910 Gordon Dr Sioux Sioux City, IA.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Drive‑through restaurant building constructed in 1977; Offered in as‑is condition with demolition permitted if needed; Full access to Gordon Drive
