Well-Maintained Commercial Building For
For Sale
Contact for pricing
700 Jackson St, Sioux City, IA 51105
Five-unit commercial building with quality tenants and modern finishes.
Property Size7,092 SF
Price / SF$109.28
Days on Market867
Property Features for 700 Jackson St
General Information
Standard status
Active
Size
7,092 SF
Total Parking Spaces
22
Property subtype
Office
Zoning
GC
Net Operating Income
$71,343
Building Details
Year Built
1977
Year Renovated
2025
Stories
1
Tenancy
Multi
Listing Agency:
Keller Williams Siouxland
(712) 251-0684
Listed By:
Mark Hanson · License #IA S68441000
Source:
Crexi
Added: Apr 11, 2024
Changed: Aug 23
Last Checked: Aug 25 at 10:02AM
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 Keller Williams Siouxland
Investment Insights
Based on property information with market context.
This well-maintained five-unit commercial building is suitable for investors seeking a steady cash flow or an owner-occupier looking to offset mortgage costs with rental income from the other four tenants. The property features convenient parking and a green space courtyard. Interior units offer high-quality finishes, modern fixtures, and tasteful color schemes, creating a comfortable and stylish working environment. Unit 700 was updated 4 years ago with a new HVAC unit, new roof and tiple pane Pella windows. Unit 702 has new lights, a new front window and new kitchen. Unit 704 was just updated with new paint, ceiling tiles and high-quality LED lights. Unit 706A was completely updated in 2024 with new paint, carpet, ceiling tiles, HVAC, high-quality LED lights, a new kitchenette and new restrooms. Unit 706B received a new HVAC and lights in 2024. The roof over 706 A&B is 3 years old. The property is located one block from MercyOne Siouxland Medical Center.
Key Highlights
- Steady cashflow from 5 well‑maintained units with quality tenants, ideal for investors.
- Potential for owner‑occupancy with rental income from other 4 units covering mortgage.
- Convenient parking directly by the doors for easy tenant and customer access.
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
$35,888
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
4.63%
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%
$717,760
$717.8K
Cap Rate 7%
$512,686
$512.7K
Cap Rate 9%
$398,756
$398.8K
Market Conditions
NOI Build-Up for 7,092 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
$65.5K $9.24/SF
− Vacancy
−$17.7K −$2.49/SF
EGI
$47.9K $6.75/SF
− OpEx
−$12.0K −$1.69/SF
NOI
$35.9K $5.06/SF
Area
Woodbury County, IA
Vacancy
26.98%
Lease Rate
$9.24 /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%
$717,760
Cap Rate 7%
$512,686
Cap Rate 9%
$398,756
Alternative Uses
Best Use
Office B
$512.7K
$448.6K – $598.1K
NOI $35,888 @ 7.0% cap · market cap 4.63%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.07M
$932.5K – $1.24M
NOI $74,599 @ 7.0% cap · market cap 9.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,385
Businesses Nearby
Explore this area
Business Placement
Demographics for 51105, IA
10,565
Population
4,197
Households
2.5
Avg Household Size
31
Median Age
7%
College-Educated
64%
High-School Grad
6.0 sq mi
ZIP Area
1,761
Density / Sq Mi
$46,940
Median Household Income
$33,152
Median Earnings
$855
Median Rent
$84,700
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Five-unit commercial building with quality tenants and modern finishes.
Where is this office building located?
The property is located at 700 Jackson St Sioux City, IA.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Steady cashflow from 5 well‑maintained units with quality tenants, ideal for investors.; Potential for owner‑occupancy with rental income from other 4 units covering mortgage.; Convenient parking directly by the doors for easy tenant and customer access.
