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    619 Pierce St Sioux City, IA 51101

    Sponsored
    For Sale
    $1,200,000

    Prime Downtown Location, High NOI

    Property size:
    69,203 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This stunning three-story, 69,203 square foot Class A office building in Sioux City, Iowa, presents a unique investment opportunity. Built in 1917 and fully renovated in 2014, the property boasts a 9.12% cap rate and a strong 100% occupancy rate, generating a net operating income (NOI) of $109,417.49. The asking price is $1,200,000, translating to $17.34 per square foot. The property includes a valuable 121-stall private parking ramp directly connected to all three floors via elevator, a significant asset given the high demand for parking in this area. Currently, the building houses the Vriezelaar Law Firm and McClure Engineering, both long-term tenants since the 2014 renovation. The sale includes the main floor and second-floor office condos, and the full basement with high-clearance storage. The sale excludes the second-floor SEDC office condo and the six third-floor residential condos. The 0.52-acre lot is zoned DC and enjoys a prime downtown location, situated between the newly restored Warrior Hotel, Orpheum Theatre, City Hall, and County Courthouse. The high-clearance basement offers potential for conversion into additional income-generating self-storage units for building tenants. This property offers a compelling blend of historical charm, modern amenities, and strong financial performance. The APN is 894728304006; 894728313000.

    Property Features for 619 Pierce St

    General Information

    Property type
    Individual retail properties
    Square Feet
    69,203 SF
    Class
    A
    Lot Size
    22,651 SF

    Building Details

    Year Built/Renovated
    1917/2014
    Stories
    3

    HighLights

    • $1,200,000 asking price for this Class A, 69,203 square foot, multi‑tenant office building.
    • 9.12% cap rate with a Net Operating Income (NOI) of $109,417.49 and 100% occupancy.
    • Located in Sioux City, IA at 619 Pierce St, this free‑standing building features 121 parking spaces in an attached private ramp.
    • Built in 1917 and fully renovated in 2014, the three‑story building sits on a 0.52‑acre lot and is zoned DC.
    • Prime downtown location near the Warrior Hotel, Orpheum Theatre, City Hall, and County Courthouse.
    Property Profile Location Intelligence

    Current Use by Public Records

    Freestanding property

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Sioux City
    County
    Woodbury
    State
    Iowa
    Longitude
    -96.4053233
    Latitude
    42.497149

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    FAQs

    What type of property is this?
    Individual retail property - Prime Downtown Location, High NOI
    Where is this individual retail property located?
    The property is located at 619 Pierce St Sioux City, IA.
    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 Class A, 69,203 square foot, multi-tenant office building.; 9.12% cap rate with a Net Operating Income (NOI) of $109,417.49 and 100% occupancy.; Located in Sioux City, IA at 619 Pierce St, this free-standing building features 121 parking spaces in an attached private ramp.
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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
    619 Pierce St Sioux City, IA 51101
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