Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2421 Pierce St Sioux City, IA 51104
    Back to Search
    Property profile & analytics

    2421 Pierce St, Sioux City, IA 51104

    View on Map
    • Office Spaces
    • 11,996 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Hangar in SiouxCity Iowa / Shopping Center & Mall
    • Magnolia Plastic Surgery & Medspa - Dr. Heath Charvet / Physician / Medical Clinic

    Property Details for 2421 Pierce St

    Year built
    1961
    Property type
    Office Spaces
    Property subtype
    Medical Office Space

    Description

    This exceptional Class B medical office building, totaling 11,996 square feet, presents a unique investment opportunity. Built in 1961 and situated on a 1.1-acre lot, the property boasts ample parking with 42 spaces. Currently, 3,438 square feet of space is available for lease, ideal for expansion or a new tenant. The building features multiple exam rooms equipped with plumbing, a sizable laboratory, administrative offices, and a convenient reception waiting area. The zoning is designated NC.5. The property's location offers significant advantages, being immediately adjacent to Octapharma Plasma, ensuring high visibility and convenient access for patients and staff. The building's multiple tenancy structure provides flexibility for various medical practices. The property's Asset Property Number (APN) is 894721104016. This well-maintained building offers a blend of established infrastructure and significant potential for growth within a thriving medical community. The available space is ready for immediate occupancy and customization to suit the needs of a variety of medical professionals. This is a rare opportunity to acquire a strategically located medical office building with significant upside potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Sioux City
    County
    Plymouth
    State
    Iowa
    Longitude
    -96.4056
    Latitude
    42.5159

    Comparable in this City

    • Value Estimation
      $595,000
      6,258 SF

      2801 Nebraska St

      MEDICAL BUILDING
      2801 Nebraska St, Sioux City, IA 51104
      View Details
    • Value Estimation
      $605,000
      8,476 SF

      2735 Outer N Dr

      MEDICAL BUILDING
      2735 Outer N Dr, Sioux City, IA 51104-1590
      View Details
    • Value Estimation
      $1,745,000
      28,020 SF

      2515 Pierce St

      MEDICAL BUILDING
      2515 Pierce St, Sioux City, IA 51104-3725
      View Details
    • Value Estimation
      $705,000
      11,572 SF

      4230 Hamilton Blvd

      MEDICAL BUILDING
      4230 Hamilton Blvd, Sioux City, IA 51104-1137
      View Details
    • Value Estimation by Request
      1,500 SF

      2608 Hamilton Blvd

      MEDICAL BUILDING
      2608 Hamilton Blvd, Sioux City, IA 51104-4048
      View Details
    • Value Estimation
      $550,000
      18,431 SF

      4405 Hamilton Blvd

      MEDICAL BUILDING
      4405 Hamilton Blvd, Sioux City, IA 51104-1140
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1,994 SF

      Professional Building with Exam Rooms

      Professional building featuring multiple exam rooms and office spaces.
      2912 Hamilton Blvd, Sioux City, IA 51104
      View Details
    • New
      $900,000
      0.61 Acres

      Freestanding Single-Story Office Building

      Built in 1982 and zoned General Commercial, this freestanding building suits office and medical or owner-user configurations.
      303 W 24Th St, Sioux City, IA 51104
      View Details
    • $627,360
      5,228 SF

      Downtown Sioux City Executive Office

      Class A Office, 5,228 SF, $627,360
      0 Park Ave, Sioux City, IA 51104
      View Details
    • $399,000

      Office Building with Leased Space

      Office building with leased space and owner-user potential.
      2020 Indian Hills Dr, Sioux City, IA 51104
      View Details
    • Contact for pricing
      7,377 SF

      Freestanding Office Space in Sioux City

      7,377 SF office building in high-visibility Sioux City corridor.
      303 W 24Th St, Sioux City, IA 51104
      View Details
    • $475,000
      1.28 Acres

      Sioux City Office For Sale

      Commercial office building in Sioux City, Iowa, fully occupied.
      2910 Hamilton Blvd, Sioux City, IA 51104
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Medical Office Space Available

      Medical office space featuring multiple exam rooms and a laboratory.
      2421 Pierce St, Sioux City, IA 51104
      View Details
    • Contact for pricing

      Sioux City Office Space Available

      Office space available for rent in Sioux City, Iowa.
      416 20Th St, Sioux City, IA 51104
      View Details
    • $7 SF/Yr

      Renovated Office Space with Kitchenette

      Newly renovated office space featuring an open floor plan and kitchenette.
      2020 Indian Hills Dr, Sioux City, IA 51104
      View Details
    • Contact for pricing

      Sioux City Office Space Available

      Office space for rent at 2912 Hamilton Boulevard, Sioux City.
      2912 Hamilton Blvd, Sioux City, IA 51104
      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.
    2421 Pierce St
    Sioux City, IA 51104
    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
    2421 Pierce St, Sioux City, IA, 51104
    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!