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Property profile & analytics

500 56Th St Sioux Falls, SD 57104

  • Office Properties & Spaces
  • 122,293 SF
  • 14.09 lot acres
Value Estimation
Location Intelligence

Current Use by Public Records

  • Avera Specialty Pharmacy / Pharmacy
  • Old Orchard Cafe / Caterer / Cafe
  • Palm Place / School
  • Daktronics, Building 2 / Corporate Office

Property Details for 500 56Th St

Year built
1996
Lot size
14.09 lot acres
Property size
122,293 SF
Property type
Office Properties & Spaces
Property subtype
Industrial properties

Description

This exceptional investment opportunity presents a 122,293-square-foot, Class B executive office building in Sioux Falls, South Dakota. Located at 500 E 56th St, this fully occupied (100%) single-tenant property boasts a strong 13.92% cap rate and an asking price of $12,618,161 ($103.18/sq ft). Built in 1996, the two-story building sits on a 14.09-acre lot within a mature industrial park, offering convenient access to I-90 and I-29. The property features 644 parking spaces, two loading docks with two dock-high doors, and a 9-foot ceiling height. The building's infrastructure includes a condenser water system/heat pumps for HVAC, a tar and gravel roof, and a tilt-up concrete exterior. Internal features include a raised floor system (16"), a wet sprinkler system, and a 500 KVA Powerware 9315 UPS system covering critical systems. A 1375 KVA Caterpillar 3512 generator provides full building system backup power for 3.5 days at full load. The building also has a 2-megawatt electric capacity and 10,000 gallons of fuel storage in an underground storage tank within a cement vault. Currently configured as open plan/call center/office space, the property offers potential for adaptive reuse as a data center, industrial facility, or self-storage. The I-1 zoning permits a variety of uses. This is a rare opportunity to acquire a high-performing, well-located commercial property with significant upside potential.

Value Estimation

Powered by Realmo proprietary methodology Last update: July 3, 2025
  • CAP approach

  • Comparable approach

  • Alternative Use

Location Insight

  • Map
  • Local Demand
City
Sioux Falls
County
Minnehaha
State
South Dakota
Longitude
-96.7134
Latitude
43.5985
More about this property
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