619 Pierce StSioux City, IA 51101

Property Details for 619 Pierce St

Year built

1959

Lot size

0.33 AC

Property size (Sq ft)

60,000 SF

Property type

Other commercial real estate

APN

894728304006

APU

894728304006

Description

This stunning three-story, 69,203 square foot Class A office building in Sioux City, Iowa, presents a unique investment opportunity. Built in 1917 and fully renovated in 2014, the property boasts a 9.12% cap rate and a strong 100% occupancy rate, generating a net operating income (NOI) of $109,417.49. The asking price is $1,200,000, translating to $17.34 per square foot. The property includes a valuable 121-stall private parking ramp directly connected to all three floors via elevator, a significant asset given the high demand for parking in this area. Currently, the building houses the Vriezelaar Law Firm and McClure Engineering, both long-term tenants since the 2014 renovation. The sale includes the main floor and second-floor office condos, and the full basement with high-clearance storage. The sale excludes the second-floor SEDC office condo and the six third-floor residential condos. The 0.52-acre lot is zoned DC and enjoys a prime downtown location, situated between the newly restored Warrior Hotel, Orpheum Theatre, City Hall, and County Courthouse. The high-clearance basement offers potential for conversion into additional income-generating self-storage units for building tenants. This property offers a compelling blend of historical charm, modern amenities, and strong financial performance. The APN is 894728304006; 894728313000.

• Alternative Use

  Use

  Valuation

  Residential

  $10,606,016

  Hospitality

  $9,715,054

  Educational

  $8,082,810

  Medical

  $8,360,791

  Retail

  $12,573,261

Location Insight

City

Sioux City

County

Woodbury

State

Iowa

Latitude

42.4972

Longitude

-96.4054

CBSA code

43580

CBSA name

SIOUX CITY, IA-NE-SD METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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