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    1431 41St St Sioux Falls, SD 57105
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    1431 41St St Sioux Falls, SD 57105

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    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Spirit Halloween / (Bike/Boat/Book/etc) Store

    Property Details for 1431 41St St

    Property type
    Neighborhood centers
    Property subtype
    Retail properties & Spaces

    Description

    This exceptional retail opportunity is located at 1431 W 41st St, Sioux Falls, SD 57105, within the highly sought-after 41st Street Marketplace. This C-3 zoned strip center boasts a prime location on West 41st Street, recognized as South Dakota's premier retail corridor. The property offers immediate access to Interstates 229 and 29, ensuring exceptional visibility and convenient access for customers. A significant 86,040 square feet is currently available for lease, with one space totaling 34,650 square feet. The site benefits from a strategic position between two signalized intersections, providing multiple access points for ease of entry and exit. Ample parking is available with approximately 447 stalls. This power center enjoys a strong co-tenancy lineup including nationally recognized brands such as Costco, AT HOME, Scheel's Sports, Planet Fitness, Office Depot, Party City, Best Buy, and Taco Bell, as well as the Empire Mall (Simon). This location offers unparalleled exposure and the potential to thrive within a vibrant and established retail environment. The property's strategic placement and high-traffic location make it an ideal choice for businesses seeking significant visibility and customer reach in Sioux Falls.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Sioux Falls
    County
    Minnehaha
    State
    South Dakota
    Longitude
    -96.7422
    Latitude
    43.5129

    Comparable in this City

    • Value Estimation by Request
      10,159 SF

      2511 Minnesota Ave

      Neighborhood centers • 10,159 SF
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    • Value Estimation
      $1,800,000
      30,752 SF

      3101 41st St

      SHOPPING CENTER, STRIP CENTER • 30,752 SF
      3101 41st St, Sioux Falls, SD 57105-4221
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    • Value Estimation
      $1,595,000
      45,318 SF

      1600 Western Ave

      SHOPPING CENTER, STRIP CENTER • 45,318 SF
      1600 Western Ave, Sioux Falls, SD 57105-1307
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    • Value Estimation
      $520,000
      11,208 SF

      410 26th St

      SHOPPING CENTER, STRIP CENTER • 11,208 SF
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    • Value Estimation by Request
      4,800 SF

      3401 Clf Ave

      SHOPPING CENTER, STRIP CENTER • 4,800 SF
      3401 Clf Ave, Sioux Falls, SD 57105-7003
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    • Value Estimation by Request
      16,048 SF

      2804 41st St

      SHOPPING CENTER, STRIP CENTER • 16,048 SF
      2804 41st St, Sioux Falls, SD 57105-4202
      View Details

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    Similar Nearby for Lease

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    Sioux Falls, SD 57105
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    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
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