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    Property profile & analytics

    1000 Delaware St Sioux Falls, SD 57104-0232

    • Office buildings
    • 1,800 SF
    • 3.15 lot acres
    OFF-MARKET
    Value Estimations
    $310,000
    Show details
    Cap Rate Potential
    8.4%
    Office buildings
    Location Intelligence
    Property ID
    US79-0069475
    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

    • Office buildings

    Property Details for 1000 Delaware St

    Year built
    1973
    Construction
    STEEL FRAME
    Lot size
    3.15 lot acres
    Property size
    1,800 SF
    Zone code
    NO;SPECIAL NOTE
    Property type
    Office buildings
    APN
    60187
    APU
    60187

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $305,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $430,000
      6.5%
      $395,000
      7%
      $365,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $286,000
      Market price range: $132k - $286k

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

    Location Insight

    • Map
    • Local Demand
    City
    Sioux Falls
    County
    Minnehaha
    State
    South Dakota
    Longitude
    -96.7437
    Latitude
    43.5669
    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
    $9,986
    $240,100
    $160,000
    $400,100
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,135,000
      50,160 SF

      2200 Benson Rd

      OFFICE BUILDING • 50,160 SF
      2200 Benson Rd, Sioux Falls, SD 57104-7023
      View Details
    • Value Estimation
      $830,000
      35,920 SF

      500 60th N St

      OFFICE BUILDING • 35,920 SF
      500 60th N St, Sioux Falls, SD 57104-0478
      View Details
    • Value Estimation
      $1,230,000
      127,332 SF

      705 60th N St

      OFFICE BUILDING • 127,332 SF
      705 60th N St, Sioux Falls, SD 57104
      View Details
    • Value Estimation
      $1,150,000
      132,353 SF

      205 6th St

      OFFICE BUILDING • 132,353 SF
      205 6th St, Sioux Falls, SD 57104-5931
      View Details
    • Value Estimation
      $1,230,000
      84,072 SF

      141 Main Ave

      OFFICE BUILDING • 84,072 SF
      141 Main Ave, Sioux Falls, SD 57104-6442
      View Details
    • Value Estimation
      $690,000
      261,192 SF

      125 Dakota Ave

      OFFICE BUILDING • 261,192 SF
      125 Dakota Ave, Sioux Falls, SD 57104-6403
      View Details

    Similar Nearby for Sale

    • $2,230,000
      20,141 SF

      Well-Maintained Building on Russell Street

      High-quality building with visibility on Russell Street, Sioux Falls.
      621 W Russell St, Sioux Falls, SD 57104
      View Details
    • $1,450,000
      10,280 SF

      Former Daycare with Parking

      Adaptable building near Terrace Park and local schools.
      711 N Lake Ave, Sioux Falls, SD 57104
      View Details
    • $7,999,000
      111,104 SF

      Spacious Office Building in Sioux Falls

      Large office building with open workspace and private offices.
      4811 N 4Th Ave, Sioux Falls, SD 57104
      View Details
    • $4,499,000
      63,775 SF

      Sioux Falls Office Building

      Large office building with open workspace and private offices.
      301 E 58Th St, Sioux Falls, SD 57104
      View Details
    • $2,450,000
      6,800 SF

      Sioux Falls Office Building

      Updated office building with heated parking garage and surface parking.
      112 S Dakota Ave, Sioux Falls, SD 57104
      View Details
    • $995,000
      16,248 SF

      Sioux Falls Office Building

      Office building with convenient access to I-229 and I-90.
      1600 E Benson Rd, Sioux Falls, SD 57104
      View Details

    Similar Nearby for Lease

    • $10 SF/Yr
      3,431 SF

      Prospect Plaza South Office Suites

      Creative office spaces for lease in Sioux Falls.
      629 Minnesota Ave, Sioux Falls, SD 57104
      View Details
    • $13 SF/Yr
      124,626 SF

      Sioux Falls Flex Space - 124,626 SF

      Prime Sioux Falls industrial/flex space. Multiple suites available.
      701 60Th St, Sioux Falls, SD 57104
      View Details
    • $14 SF/Yr
      5,000 SF

      Northstar Plaza: Prime Office Suite A

      Exceptional Sioux Falls Office Space: 2,073 sq ft
      427 Minnesota Ave, Sioux Falls, SD 57104
      View Details
    • $10 SF/Yr

      Downtown Office/Retail Space Available

      Office and retail spaces for lease in downtown area.
      120 North Phillips Ave, Sioux Falls, SD 57104
      View Details
    • $13 SF/Yr
      2,400 SF

      Downtown Sioux Falls Office Space

      Office space in the heart of downtown Sioux Falls.
      141 N Main Ave, Sioux Falls, SD 57104
      View Details
    • $18 SF/Yr
      2,603 SF

      Office Space with Ample Parking

      Office space available 03/01/2026 with surface parking and signage.
      6100 69Th St, Sioux Falls, SD 57104
      View Details
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    1000 Delaware St
    Sioux Falls, SD 57104-0232
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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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