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    114 Reid St Sioux Falls, SD 57103

    Sponsored
    For Sale
    $1,200,000

    Historic Flex Space, Prime Location

    Property size:
    3,109 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional 3,109 square foot flex space, situated at 114 S Reid St in Sioux Falls, South Dakota, presents a unique investment opportunity. Originally constructed in 1910 as a locomotive boiler repair facility, this stand-alone building boasts impressive 2-inch thick brick exterior walls, showcasing its enduring character. The property sits on a 16,000 square foot lot, offering ample space and potential for expansion or redevelopment. Its strategic location just south of 8th & Railroad and the Lumber Exchange Building, and west of a planned railyard site development, places it within the burgeoning Riverline District. The building's unique shell design allows for a variety of uses, from industrial to retail or office space. A second floor, not included in the 3,109 square foot measurement, offers additional potential for living space, retail, or office use, although it has an unusual side wall height. The asking price is $1,200,000, translating to $385.98 per square foot. The current ownership is open to discussing redevelopment possibilities, making this a truly versatile and promising investment. This property is zoned for industrial use in Minnehaha County, zip code 57103.

    Property Features for 114 Reid St

    General Information

    Property type
    Flex space
    Square Feet
    3,109 SF

    Building Details

    Year Built
    1910

    HighLights

    • $1,200,000 asking price for this 3,109 SF flex industrial building.
    • Located at 114 S Reid St, Sioux Falls, SD 57103.
    • Built in 1910, situated on a 16,000 SF lot, with a price per square foot of $385.98.
    • Features a unique design allowing for diverse redevelopment opportunities.
    • Located near planned railyard and Riverline District developments.
    Property Profile Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Restaurant Realty agency Building Supply Dental Office Spa & Massage Law Firm Wholesale Shop Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Sioux Falls
    County
    Minnehaha
    State
    South Dakota
    Longitude
    -96.7222176
    Latitude
    43.5467159

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    FAQs

    What type of property is this?
    Flex space - Historic Flex Space, Prime Location
    Where is this flex space located?
    The property is located at 114 Reid St Sioux Falls, SD.
    What is the asking price?
    The asking price for this property is $1,200,000.
    What are key features of this property?
    This property features: $1,200,000 asking price for this 3,109 SF flex industrial building.; Located at 114 S Reid St, Sioux Falls, SD 57103.; Built in 1910, situated on a 16,000 SF lot, with a price per square foot of $385.98.
    Request Owner's contact information
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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

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    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
    114 Reid St Sioux Falls, SD 57103
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