Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1500 W 51St St Sioux Falls, SD 57105

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Office space for rent with easy access to major routes.

    Property Features for 1500 W 51St St

    General Information

    Standard status
    Active

    Building Details

    Year built
    2000

    We can help!

    Listing Contact
    Bobbie Tibbetts
    Bobbie Tibbetts
    Source: Crexi

    Listing Agency: Bender Commercial Listing Agent: Bobbie Tibbetts

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    West Valley Office Space Available

    Office space is available for rent in the West Valley Office Building. The property features common area restrooms. Parking is available at a ratio of 1 space per 240 square feet. Monument and interior signage opportunities are available. The location provides convenient access to 41st Street, Minnesota Avenue, Western Avenue, and I-229.
    Location Intelligence

    Current Use by Public Records

    Mc Grath Michael ... Physician Neuropsychology Consultants Physician Honeywell HVAC Service Horizon Enterprises Inc Home Appliance Store Elite Solutions Big Box & Wholesale Store

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store 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
    Lincoln
    State
    South Dakota
    Longitude
    -96.7429452
    Latitude
    43.5079861

    Nearby Similar for Lease

    • Sponsored
      Contact for pricing

      CNA Building

      Discover many ways to work your way in CNA Building
      101 Reid St, Sioux Falls, SD 57103
      View Details
    • Contact for pricing

      Office Building Near I-29

      Office suites available for lease near I-29.
      4700 W 26Th St, Sioux Falls, SD 57106
      View Details
    • New
      Contact for pricing

      Restaurant Space in Sioux Falls

      Restaurant space available in a high-traffic Sioux Falls location.
      421 North Phillips Ave, Sioux Falls, SD 57104
      View Details
    • Contact for pricing

      Retail Space with High Visibility

      Retail space with high traffic and convenient downtown access.
      721 W 11Th St, Sioux Falls, SD 57104
      View Details
    • $8 SF/Yr

      Versatile Flex Space with Offices

      Flex space featuring offices, shop, and drive-in/dock-high doors.
      47168 Haylie St, Sioux Falls, SD 57107
      View Details
    • $8 SF/Yr

      Versatile Flex Space with Office

      Flex space featuring extensive office and shop areas for rent.
      47168 Haylie St, Sioux Falls, SD 57107
      View Details
    • New
      Contact for pricing

      Retail Space on Minnesota Avenue

      High-visibility retail space in central Sioux Falls.
      1914 S Minnesota Ave, Sioux Falls, SD 57105
      View Details
    • Contact for pricing

      Sioux Falls Warehouse with Office

      Warehouse space with office, restroom, and overhead door available.
      1731 East 57Th St N, Sioux Falls, SD 57104
      View Details
    • $5,990 /Mo

      Versatile Industrial Space with Drive-Through

      Industrial space featuring drive-through doors, in-floor heating, and secure parking.
      25735 Cottonwood Ave, Sioux Falls, SD 57107
      View Details
    • $7 SF/Yr

      Sioux Falls Flex Space Available

      Flex space for lease in northeast Sioux Falls.
      1405 North Cleveland Ave, Sioux Falls, SD 57103
      View Details
    • Contact for pricing

      Office Space on Phillips Avenue

      Office building with easy access to major routes.
      3500 S Phillips Ave, Sioux Falls, SD 57105
      View Details
    • $6 SF/Yr

      Sioux Falls Flex Space

      16,000 SF flex space with showroom and storage.
      5620 W 9Th St, Sioux Falls, SD 57107
      View Details

    FAQs

    What type of property is this?
    Office units - Office space for rent with easy access to major routes.
    Where is this office units located?
    The property is located at 1500 W 51St St Sioux Falls, SD.
    What are key features of this property?
    This property features: - Easy access to 41st Street, Minnesota Avenue, Western Avenue and I-229.; - Parking ratio of 1 space per 240 square feet.; - Monument and interior signage available.
    (605) 336-7600
    Request Owner's contact information
    1500 W 51St St Sioux Falls, SD 57105
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1500 W 51St St
    Sioux Falls, SD 57105
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    1500 W 51St St Sioux Falls, SD 57105
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Bobbie Tibbetts
    Bobbie Tibbetts
    Real Estate License ID: 20333
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!