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    3835 Western Ave Sioux Falls, SD 57105-6510

    • Outlet malls
    • 29,008 SF
    OFF-MARKET
    Last Sale
    Jan 07, 2020
    $1,266,000
    Value Estimations
    $1,335,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US79-0070071
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Runnings / Pet Supply Store / General Store

    Property Details for 3835 Western Ave

    Year built
    1987
    Construction
    STEEL FRAME
    Property size
    29,008 SF
    Property type
    Outlet malls
    APN
    78113
    APU
    78113

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,425,000
      ML approach
      $1,440,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,057,000
      Market price range: $1.06M - $4.07M
      AI Estimate
      $985,000
      Market price range: $898k - $4.07M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $2,295,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Sioux Falls
    County
    Minnehaha
    State
    South Dakota
    Longitude
    -96.7519
    Latitude
    43.509
    CBSA code
    43620
    CBSA name
    SIOUX FALLS, SD METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $16,735
    $0.00
    $927,700
    $927,700
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $610,000
      25,682 SF

      2901 Minnesota Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 25,682 SF
      2901 Minnesota Ave, Sioux Falls, SD 57105-5600
      View Details
    • Value Estimation
      $740,000
      24,808 SF

      1505 41st St

      WHOLESALE OUTLET, DISCOUNT STORE • 24,808 SF
      1505 41st St, Sioux Falls, SD 57105-6370
      View Details
    • Value Estimation
      $640,000
      34,753 SF

      330 41st St

      WHOLESALE OUTLET, DISCOUNT STORE • 34,753 SF
      330 41st St, Sioux Falls, SD 57105-6425
      View Details
    • Value Estimation
      $600,000
      14,278 SF

      4040 Grange Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 14,278 SF
      4040 Grange Ave, Sioux Falls, SD 57105-6353
      View Details
    • Value Estimation
      $840,000
      41,200 SF

      2400 Minnesota Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 41,200 SF
      2400 Minnesota Ave, Sioux Falls, SD 57105-3761
      View Details
    • Value Estimation
      $815,000
      36,800 SF

      2921 41st St

      WHOLESALE OUTLET, DISCOUNT STORE • 36,800 SF
      2921 41st St, Sioux Falls, SD 57105-4256
      View Details

    Similar Nearby for Sale

    • $795,000
      4,000 SF

      Retail Building with Parking

      Retail property with parking, updated facade, and security cameras.
      3800 S Western Ave, Sioux Falls, SD 57105
      View Details
    • $199,000
      2,927 SF

      Historic Market with Residence

      Historic market with retail space and residential unit.
      1401 N Main Ave, Sioux Falls, SD 57105
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    • $425,000
      Pending

      Spacious Duplex in Sioux Falls

      Three-bedroom duplex with attached garage, ideal for investors.
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    • $5,150,534

      Subdividable Commercial Lot For Sale

      Commercial lots for sale in a rapidly growing Sioux Falls development.
      5800 E 26Th St, Sioux Falls, SD 57105
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    • $944,384

      Residential Land Near Schools, Parks

      Land in dense residential area near schools and parks.
      2100 S 5Th Ave, Sioux Falls, SD 57105
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    • New
      $359,900
      2,178 SF

      Sioux Falls Duplex For Sale

      South Sioux Falls duplex with detached garage and spacious floor plan.
      3801 S Hawthorne Ave, Sioux Falls, SD 57105
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    Similar Nearby for Lease

    • $9 SF/Yr
      34,400 SF

      Prime Retail Space on 41st

      Retail space in Costco-anchored power center on Sioux Falls' corridor.
      1401-1601 W 41St St, Sioux Falls, SD 57105
      View Details
    • $33 SF/Yr
      1,618 SF

      Retail Suites Available in Sioux Falls

      Retail suites available in high-traffic Sioux Falls location.
      4017-4027 W 41St St, Sioux Falls, SD 57105
      View Details
    • Contact for pricing
      34,650 SF

      41st Street Marketplace Retail Space

      High-traffic Sioux Falls retail space available.
      1431 41St St, Sioux Falls, SD 57105
      View Details
    • $8 SF/Yr
      360,262 SF

      Western Mall Office Space Available

      Prime Office Space, High Traffic Location
      2101 41St St, Sioux Falls, SD 57105
      View Details
    • $9 SF/Yr
      8,668 SF

      Retail Showroom and Warehouse Space

      Retail/showroom and warehouse space with street frontage and signage.
      1701-1703 W 41St St, Sioux Falls, SD 57105
      View Details
    • $10 SF/Yr
      12,125 SF

      Prime Office Sublease Opportunity

      12,125 SF Office Space - Immediate Occupancy
      2101 41St St, Sioux Falls, SD 57105
      View Details
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    3835 Western Ave
    Sioux Falls, SD 57105-6510
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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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