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    301 Reid Pl Sioux Fls Sioux Falls, SD 57103

    Sponsored
    For Lease
    $25 SF/Yr

    Downtown Sioux Falls Office Development

    Lot size:
    68,150 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    Cherapa Place, a vibrant, new $225 million mixed-use development in Sioux Falls, South Dakota's Minnehaha County, offers exceptional office opportunities. This four-building complex, completed in 2022, boasts 95,350 square feet of available traditional office space within a dynamic "live-work-play" environment. Situated on the east bank of the Big Sioux River, the property benefits from proximity to the River Greenway, walking trails, and numerous amenities. Enjoy easy access to nearby attractions including the Levitt and Jones 421, 8th & Railroad Center, and Railyard Flats. A wide selection of restaurants and breweries, such as Highball, The Harvester Kitchen, and Monks Ale House, are within walking distance. The planned Cherapa Place courtyard and pedestrian mall will further enhance the area's appeal with new shopping, dining, and entertainment options. This development is part of a larger Eastbank growth initiative, and includes a future five-building complex and a 5,000 square foot conference center with interconnected roof deck. The property's multiple tenancy allows for flexibility and scalability, making it an ideal location for businesses of all sizes seeking a prime location in a thriving urban setting. The site's former use as the Zip Feed Mill adds to its unique character and history.

    Property Features for 301 Reid Pl Sioux Fls

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    68,150 SF

    Building Details

    Year Built
    2022
    Buildings
    4

    Unit(s) available at that property

    Space
    Building II - First Floor
    Size
    30,000 SF
    Rate per SF
    $25
    Space
    Building II - Second Floor
    Size
    15,800 SF
    Rate per SF
    $25
    Space
    Building III
    Size
    12,000 SF
    Rate per SF
    $25
    Space
    Building IV
    Size
    10,350 SF
    Rate per SF
    $25

    HighLights

    • Retail and office property with multiple tenants.
    • 95,350 square feet of vacant space.
    • Four buildings constructed in 2022.
    • Located in Minnehaha County.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Sioux Falls
    County
    Minnehaha
    State
    South Dakota
    Longitude
    -96.7230542
    Latitude
    43.5486261

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    FAQs

    What type of property is this?
    Office Property / Space - Downtown Sioux Falls Office Development
    Where is this office property / space located?
    The property is located at 301 Reid Pl Sioux Fls Sioux Falls, SD.
    What is the lease rate?
    The lease rate is $25 SF/Yr.
    What are key features of this property?
    This property features: Retail and office property with multiple tenants.; 95,350 square feet of vacant space.; Four buildings constructed in 2022.
    Request Owner's contact information
    301 Reid Pl Sioux Fls Sioux Falls, SD 57103
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

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    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    301 Reid Pl Sioux Fls Sioux Falls, SD 57103
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