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    5215 26Th St Sioux Falls, SD 57106

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    5215 26Th St Sioux Falls, SD 57106

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    • Strip malls
    • 2.19 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • GreatLIFE 26th & Marion / Gym & Fitness Center
    • Chase ATM / Atm
    • Generation V | Vape · Delta-8 · Kratom · CBD / (Bike/Boat/Book/etc) Store / Alternative Medicine Practice
    • Star Insurance Quotes - Health / Insurance Agency

    Property Details for 5215 26Th St

    Year built
    2000
    Lot size
    2.19 lot acres
    Property type
    Strip malls
    Property subtype
    Retail properties & Spaces

    Description

    Westside Plaza, located at 5215 W 26th St, Sioux Falls, SD 57106, offers exceptional retail opportunities. This 2.19-acre strip mall, built in 2000, boasts a prime location along W 26th Street and S Marion Road, providing direct access to major thoroughfares and high-traffic areas. The property is zoned PD and features two available spaces, ranging from 1,500 to 2,920 square feet, ideal for a variety of retail businesses. Its strategic position offers excellent visibility and accessibility, benefiting from strong traffic counts along the main west side corridor. Furthermore, its proximity to key destinations such as Meadows on the River and Lake Lorraine, coupled with convenient access to I-29, ensures high foot traffic and convenient access for customers. This presents a unique opportunity to establish or expand a retail presence in a thriving Sioux Falls neighborhood. The property's modern design and convenient location make it an attractive option for businesses seeking a high-visibility location with excellent access to a large customer base. Don't miss this chance to secure your space in this dynamic retail center.

    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
    -96.7902
    Latitude
    43.5291

    Comparable in this City

    • Value Estimation by Request
      9,106 SF

      2508 Carolyn Ave

      SHOPPING CENTER, STRIP CENTER • 9,106 SF
      2508 Carolyn Ave, Sioux Falls, SD 57106-4303
      View Details
    • Value Estimation
      $690,000
      22,920 SF

      1800 Marion Rd

      SHOPPING CENTER, STRIP CENTER • 22,920 SF
      1800 Marion Rd, Sioux Falls, SD 57106
      View Details
    • Value Estimation
      $570,000
      19,553 SF

      3709 41st St

      SHOPPING CENTER, STRIP CENTER • 19,553 SF
      3709 41st St, Sioux Falls, SD 57106-0797
      View Details
    • Value Estimation
      $540,000
      13,440 SF

      6800 41st St

      SHOPPING CENTER, STRIP CENTER • 13,440 SF
      6800 41st St, Sioux Falls, SD 57106
      View Details
    • Value Estimation
      $560,000
      20,636 SF

      5200 26th St

      SHOPPING CENTER, STRIP CENTER • 20,636 SF
      5200 26th St, Sioux Falls, SD 57106
      View Details
    • Value Estimation by Request
      7,920 SF

      915 Marion Rd

      SHOPPING CENTER, STRIP CENTER • 7,920 SF
      915 Marion Rd, Sioux Falls, SD 57106-0238
      View Details

    Similar Nearby for Sale

    • Contact for pricing
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      Chick-Fil-A Ground Lease Opportunity

      20-year NNN lease with high-performing Chick-Fil-A.
      4005 W 41St St, Sioux Falls, SD 57106
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      2,466 SF

      Commercial Building with Ample Parking

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      1,500 SF

      Retail Space with Walk-In Cooler

      Retail property featuring a walk-in cooler and restroom.
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      Lake Lorraine Development Land Available

      2.64 acre site in Lake Lorraine development.
      2750 S Lorraine Pl, Sioux Falls, SD 57106
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      Commercial Land in Growing Area

      Commercial land near business center, airport, and technical institute.
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    • $1,600,000

      2.20 Acres Light Industrial Land

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    Similar Nearby for Lease

    • Contact for pricing
      2,817 SF

      Prime Retail Complex Available Now

      Retail suites available in a high-traffic Sioux Falls location.
      4805-4827 S Louise Ave, Sioux Falls, SD 57106
      View Details
    • Contact for pricing

      Retail and Office Space Available

      Located near major retailers and high-traffic areas.
      3801 W 34Th St, Sioux Falls, SD 57106
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    • Contact for pricing

      Empire Place Retail Opportunity

      Retail spaces available in high-traffic Sioux Falls shopping center.
      4101 W 41St St, Sioux Falls, SD 57106
      View Details
    • Contact for pricing

      6701 W 41st St, Sioux Falls, SD 57106

      Retail space
      6701 W 41St St, Sioux Falls, SD 57106
      View Details
    • Contact for pricing
      2,014 SF

      Retail Space on 41st Street

      Retail space for lease in premier shopping destination.
      3502-3510 W 41St St, Sioux Falls, SD 57106
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    • Contact for pricing
      5,449 SF

      Retail Space Near Empire Mall

      Shell space available near major retail and high-traffic area.
      2804-2810 S Louise Ave, Sioux Falls, SD 57106
      View Details
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    5215 26Th St
    Sioux Falls, SD 57106
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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.

    More about this property
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