Current Use by Public Records
- Take 5 Oil Change / Auto Repair Shop
Property Details for 1720 10Th St
- Year built
- 2022
- Lot size
- 0.56 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Auto shops
Description
This exceptional investment opportunity presents a 1,103 square foot, single-tenant, absolute triple-net (NNN) leased property located at 1720 E 10th St, Sioux Falls, SD 57103. The property, built in 2022, is a Take 5 Oil Change franchise, benefiting from a new 15-year lease with 10% rent increases every five years. The current annual net operating income (NOI) is $108,000, yielding a 6.75% cap rate at the asking price of $1,600,000. The lease includes three, five-year renewal options, providing long-term stability and predictable income growth. The property sits on a 0.56-acre lot with four parking spaces and enjoys excellent visibility and access from 10th Street (over 20,500 vehicles per day) and proximity to I-229 (31,840 vehicles per day). The location benefits from strong demographics, including a population within a 3-mile radius of 90,430 residents with an average household income exceeding $89,700. Furthermore, the area is experiencing significant growth, with a projected annual population increase of 1.34% within a 1-mile radius over the next five years. The property's proximity to the University of Sioux Falls, Sanford USD Medical Center, and major retail centers further enhances its appeal. This is a rare opportunity to acquire a high-performing, low-maintenance asset in a rapidly growing market with a strong, nationally recognized tenant. The property is 100% occupied.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Sioux Falls
- County
- Minnehaha
- State
- South Dakota
- Longitude
- -96.7041
- Latitude
- 43.5471
