Downtown Sioux City Office
700 4th St Unit 300/310 Sioux City, IA 51101
700 4th St Unit 300/310, Sioux City, IA, 51101
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For Sale
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Remodeled office condo in downtown entertainment district with skywalk access.
Property Size1,987 SF
Price / SF$57.88
Days on Market1146
Property Features for 700 4th St Unit 300/310
General Information
- Standard status
- Active
- Size
- 1,987 SF
- Property subtype
- Office
Building Details
- Year Built
- 1972
Listing agency
NAI United
(712) 224-2727
Listed by
Chris Bogenrief, SIOR, CCIM, MBA · License #11318
Source
Crexi
Added: Jun 2, 2023 Updated: Jul 6 at 7:54AM Checked: Jul 21 at 8:28AM
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 office condominium is located in the heart of downtown Sioux City's entertainment district. The space, currently occupied by the Rehan Law Office, was completely remodeled in 2019. The entire building has been remodeled and converted to Class A space, featuring lots of natural light. In 2022, operating expenses, including utilities, were $8.25 per square foot. The property can be combined with the adjacent Unit 320, which offers 5,228 square feet, at the same price per square foot. The building benefits from direct 4th-floor and skywalk-level access to the adjacent Heritage Parking Ramp, as well as direct skywalk access to the Sioux City Convention Center, Marriott Courtyard, Mercy One, Orpheum Theatre, and Historic Pearl. The property is also adjacent to the Promenade 14 Cinema and Marto Brewing. There are $46,000,000 of private funds being invested on three sides of the building, including $23 million for the Badgerow to the west, $20 million for the former Hilton to the north, and $2.75 million for the Riviera Theater to the east. The unit offers 1,987 square feet of space.
Key Highlights
- Prime downtown location in Sioux City's Entertainment District with skywalk access.
- $46,000,000 of private investment surrounds the property.
- Recently remodeled office space in 2019.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $18.4k | $9.24 |
| − Vacancy | −$5.0k | −$2.49 |
| EGI | $13.4k | $6.75 |
| − OpEx | −$3.4k | −$1.69 |
| NOI | $10.1k | $5.06 |
1,987 SF · lease $9.24/SF/yr · vacancy 26.98% · expense 25.00%
Alternative Uses
Best Use
Office B
$143.6K
$125.7K – $167.6K
NOI $10,055 @ 7.0% cap · market cap 8.74%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$298.6K
$261.3K – $348.4K
NOI $20,901 @ 7.0% cap · market cap 18.17%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Groundworks
Construction Company
Stifel
Bank
MWI Veterinary Supply
Veterinary Clinic
Amy Kakacek, Realtor
Real Estate Agency
Bed Bug Exterminator ...
Garden Center
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FAQs
What type of property is this?
Office units - Remodeled office condo in downtown entertainment district with skywalk access.
Where is this office units located?
The property is located at 700 4th St Unit 300/310 Sioux City, IA.
What is the asking price?
The asking price for this property is $115,000.
What are key features of this property?
This property features: Prime downtown location in Sioux City's Entertainment District with skywalk access.; $46,000,000 of private investment surrounds the property.; Recently remodeled office space in 2019.
