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    Various Sioux Falls, SD 57104
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    Various Sioux Falls, SD 57104

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    • Retirement homes
    • 10,450 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retirement homes

    Property Details for 0 Various

    Year built
    1995
    Property size
    10,450 SF
    Property type
    Retirement homes

    Description

    This exceptional 21-unit assisted living facility in Sioux Falls, South Dakota, presents a compelling investment opportunity. Built in 1995 and extensively renovated between 2018 and 2020, the property boasts 10,450 square feet across a single-story building. The facility offers 21 beds, with each unit priced at $75,952.38, contributing to a total asking price of $1,595,000. The property's strong financial performance is reflected in its current 8% cap rate and a pro-forma cap rate of 10.97%, yielding a pro-forma NOI of $175,000. The property is zoned for multi-family use (MF) and benefits from its location approximately 90 minutes from a new Amazon facility in the expanding northwest area of Sioux Falls. This well-maintained asset has a documented history of excellent financial performance for over two decades, making it an attractive investment in a market with limited competition. Detailed financial records are available upon execution of a confidentiality agreement. The property is classified as Class B, and the price per square foot is $152.63. Further information, including the precise address, is available under a non-disclosure agreement.

    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
    Various
    State
    South Dakota
    Longitude
    -96.7289
    Latitude
    43.5369

    Comparable in this City

    • Value Estimation
      $570,000
      25,061 SF

      1320 17th St

      HOMES (RETIRED, NURSING) • 25,061 SF
      1320 17th St, Sioux Falls, SD 57104-4600
      View Details
    • Value Estimation
      $500,000
      15,704 SF

      111 17th St

      HOMES (RETIRED, NURSING) • 15,704 SF
      111 17th St, Sioux Falls, SD 57104-4972
      View Details
    • Value Estimation by Request
      4,971 SF

      512 18th St

      HOMES (RETIRED, NURSING) • 4,971 SF
      512 18th St, Sioux Falls, SD 57104-5121
      View Details
    • Value Estimation by Request
      3,290 SF

      509 4th Ave

      HOMES (RETIRED, NURSING) • 3,290 SF
      509 4th Ave, Sioux Falls, SD 57104-5103
      View Details
    • Value Estimation
      $840,000
      30,662 SF

      708 Minnesota Ave

      HOMES (RETIRED, NURSING) • 30,662 SF
      708 Minnesota Ave, Sioux Falls, SD 57104-2425
      View Details
    • Value Estimation
      $1,355,000
      17,167 SF

      409 Western Ave

      HOMES (RETIRED, NURSING) • 17,167 SF
      409 Western Ave, Sioux Falls, SD 57104-5607
      View Details

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    Similar Nearby for Lease

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    • Contact for pricing
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      Retail space available in a mixed-use development in Sioux Falls.
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      Office/retail space with high traffic and convenient access.
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    • $1,400 /Mo
      1,800 SF

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      Industrial shop spaces in northeast Sioux Falls with convenient access.
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      View Details
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    Sioux Falls, SD 57104
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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.

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