Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    319 West Ave Sioux Falls, SD 57104
    Back to Search
    Property profile & analytics

    319 West Ave, Sioux Falls, SD 57104

    View on Map
    • Specialty properties
    • 1,468 SF
    • 5,142.00 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Specialty properties

    Property Details for 319 West Ave

    Year built
    1953
    Lot size
    5,142.00 lot acres
    Property type
    Specialty properties
    Property subtype
    Retail properties & Spaces

    Description

    This exceptional 1,468 square foot commercial building, located at 319 West Avenue in Sioux Falls, South Dakota, presents a unique opportunity for a variety of businesses. Built in 1953, this single-tenant property sits on a generous 5,142 acres of land and is zoned for commercial use. Its versatile design is suitable for traditional office, executive office, coworking, medical office, or creative office spaces, as well as retail uses. The building's central location in Sioux Falls offers excellent visibility and accessibility. Previously used as a casino, the space is now available for lease, with casino use explicitly prohibited by the landlord. The property's size makes it ideal for a small retail operation or an executive office suite. While this listing focuses on leasing, please note that the property is also available for purchase for $295,000, which includes the adjacent property at 315 N West Avenue. The property's zoning is commercial. This is a rare opportunity to secure a well-located, adaptable commercial space in a thriving South Dakota market. Contact us today to schedule a viewing.

    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
    -96.7469
    Latitude
    43.5506

    Comparable in this City

    • Value Estimation by Request

      150 4 Pl

      Restaurants
      150 4 Pl, Sioux Falls, SD 57104
      View Details
    • Value Estimation by Request
      173,603 SF

      150 4 Pl

      Coworking space
      150 4 Pl, Sioux Falls, SD 57104
      View Details
    • Value Estimation by Request
      25,080 SF

      122 Phillips Ave

      Office Spaces
      122 Phillips Ave, Sioux Falls, SD 57104
      View Details
    • Value Estimation by Request

      315 Main Ave

      Office Spaces
      315 Main Ave, Sioux Falls, SD 57104
      View Details
    • Value Estimation
      $1,935,000
      18,204 SF

      1020 18th St

      MEDICAL BUILDING
      1020 18th St, Sioux Falls, SD 57104-4707
      View Details
    • Value Estimation by Request
      7,489 SF

      412 1st Ave

      MEDICAL BUILDING
      412 1st Ave, Sioux Falls, SD 57104-6901
      View Details

    Similar Nearby for Sale

    • $2,250,379

      Sioux Falls Adaptable Commercial Building

      49,424 SF vacant building suitable for daycare, medical, or office.
      4800 N 4Th Ave, Sioux Falls, SD 57104
      View Details
    • Contact for pricing
      13,536 SF

      Multi-Purpose Facility Near Convention Center

      Investment opportunity: 14,000 SF mixed-use property near Denny Sanford Center.
      1605 W Burnside St, Sioux Falls, SD 57104
      View Details
    • $6,067,138

      Sioux Falls Specialty Property

      Specialty property suitable for data center or industrial use.
      705 E 60Th St N, Sioux Falls, SD 57104
      View Details
    • Contact for pricing
      124,103 SF

      Sioux Falls Industrial/Flex Building

      124,103 SF industrial/flex building in Sioux Falls, South Dakota.
      705 East 60Th St N, Sioux Falls, SD 57104
      View Details
    • Contact for pricing
      850 SF

      Office Suite with Reception Area

      Functional office layout with a large reception area and multiple private rooms, offered with gross rent plus utilities.
      120 S Indiana Ave, Sioux Falls, SD 57104
      View Details
    • Contact for pricing
      1,683 SF

      Professional Office Suite with Reception

      Office suite near downtown Sioux Falls featuring a large reception area, multiple offices, and shared support spaces.
      120 S Indiana Ave, Sioux Falls, SD 57104
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,840 SF

      Medical Clinic Ready For Rent

      Clinic space available for medical, therapy, or dental practices.
      4914-4930 N Cliff Ave, Sioux Falls, SD 57104
      View Details
    • Contact for pricing
      7,207 SF

      Mixed-Use Development in Steel District

      Integrated live, work, play, stay development with office and retail.
      150 E 4 Pl, Sioux Falls, SD 57104
      View Details
    • $10 SF/Yr
      14,052 SF

      Available Specialty Property For Rent

      Specialty property available for rent with tenant improvement allowance.
      523 N Kiwanis Ave, Sioux Falls, SD 57104
      View Details
    • Contact for pricing
      2,400 SF

      Downtown Office/Retail Space Available

      Office/retail space with high traffic and convenient access.
      112 N Phillips Ave, Sioux Falls, SD 57104
      View Details
    • $10 SF/Yr
      3,431 SF

      Prospect Plaza South Office Suites

      Creative office spaces for lease in Sioux Falls.
      629 Minnesota Ave, Sioux Falls, SD 57104
      View Details
    • $13 SF/Yr

      Historic Office Space Available

      Office space in the historic Gas Company Building for rent.
      114 S Main Ave, Sioux Falls, SD 57104
      View Details
    Request Owner's contact information
    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.
    319 West Ave
    Sioux Falls, SD 57104
    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
    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

    Thank You for Inquiry
    319 West Ave, Sioux Falls, SD, 57104
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!