300 Phillips AveSioux Falls, SD 57104

Property Details for 300 Phillips Ave

Year built

1890

Construction

TYPE NOT SPECIFIED

Lot size

0.23 AC

Property size (Sq ft)

34,848 SF

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

43085

APU

43085

Description

The historic Rock Island Building, located at 300 N Phillips Ave in Sioux Falls, South Dakota (zip code 57104), offers exceptional office space in the heart of the city. This three-story, Class B building, constructed in 1890 and renovated in 1998, sits on a 0.45-acre lot and boasts a prime location along Phillips Avenue. Currently, there are multiple tenancy options available, ranging from 1,524 square feet to 8,853 square feet, making it suitable for a variety of businesses. The building's versatile design accommodates Executive Office, Creative Office, Traditional Office, Coworking, and Medical Office uses. Its central location provides easy access to key attractions and amenities, including the Arc of Dreams, Levitt at the Falls, The Steel District, and the future Jacobson Plaza. This property presents a unique opportunity to establish a presence in a vibrant and rapidly developing downtown area. The building's blend of historical charm and modern updates offers a distinctive workspace. Interested parties should inquire about available suite sizes and lease terms.

• CAP approach

  CAP return

  Valuation

  6%

  $5,382,096

  6.5%

  $4,968,088

  7%

  $4,613,225

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,778,642

  Geo Method

  $1,778,642

• Alternative Use

  Use

  Valuation

  Residential

  $6,160,430

  Hospitality

  $5,642,920

  Educational

  $4,694,844

  Medical

  $4,856,306

  Retail

  $7,303,090

Location Insight

City

Sioux Falls

County

Minnehaha

State

South Dakota

Latitude

43.5501

Longitude

-96.7264

CBSA code

43620

CBSA name

SIOUX FALLS, SD METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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