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    Property profile & analytics

    1005 4Th Street Cir Sioux City, IA 51101

    • Office buildings
    • 70,000 SF
    • 0.77 lot acres
    For Sale
    View listing
    $15
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US25-0341307
    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

    • Anti Aging Center / Corporate Office

    Property Details for 1005 4Th Street Cir

    Year built
    1890
    Lot size
    0.77 lot acres
    Property size
    70,000 SF
    Property type
    Office buildings
    APN
    894728408003
    APU
    894728408003

    Description

    The Historic Aalfs Building, a stunning five-story, 70,000 square foot creative office space in downtown Sioux City's vibrant Virginia Square District, offers unparalleled opportunities. Originally constructed in 1890 and extensively renovated in 2022, this iconic building boasts a prime location at the corner of 4th Street and Virginia Street. Currently, there are multiple suites available, with a minimum divisible space of 1,000 square feet and a maximum contiguous space of 8,850 square feet. The building's zoning is commercial, situated within Woodbury County. This exceptional property benefits from its proximity to the Promenade movie theater, a five-minute walk from the Hard Rock, one block from the upcoming riverfront redevelopment, and just a block off I-29. Ground floor space is available, and the owner is offering a "vanilla shell" plus a $25.00 per square foot tenant improvement allowance with a minimum five-year NNN lease. The building's impressive tenant roster includes Keller Williams Siouxland, Goodin Insurance, Avid Hotel, and Table 32, reflecting the area's strong commercial appeal. This location is ideal for retail businesses or professional services. Please note that expenses are estimated, and current property taxes are not yet fully assessed. The building is zoned for commercial use.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,714,000
      Market price range: $1.71M - $6.23M

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

    Location Insight

    • Map
    • Local Demand
    City
    Sioux City
    County
    Woodbury
    State
    Iowa
    Longitude
    -96.3974
    Latitude
    42.4946
    CBSA code
    43580
    CBSA name
    SIOUX CITY, IA-NE-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
    2023
    $21,498
    $182,000
    $460,800
    $642,800
    -
    $182,000
    $460,800
    $642,800

    Comparable in this City

    • Value Estimation by Request
      13,080 SF

      410 5th St, Unit 12

      PROFESSIONAL BUILDING • 13,080 SF
      410 5th St, Sioux City, IA 51101-1442
      View Details
    • Value Estimation
      $1,265,000
      62,610 SF

      507 7th St

      SKYSCRAPER/HIGH-RISE (COM OFFICES) • 62,610 SF
      507 7th St, Sioux City, IA 51101-1100
      View Details
    • Value Estimation
      $1,475,000
      18,019 SF

      2015 7th St

      OFFICE BUILDING • 18,019 SF
      2015 7th St, Sioux City, IA 51101-2003
      View Details
    • Value Estimation
      $6,720,000
      174,775 SF

      401 Douglas St

      OFFICE BUILDING • 174,775 SF
      401 Douglas St, Sioux City, IA 51101-1469
      View Details
    • Value Estimation by Request
      4,720 SF

      701 Steuben St

      OFFICE BUILDING • 4,720 SF
      701 Steuben St, Sioux City, IA 51101-2044
      View Details
    • Value Estimation
      $3,970,000
      218,966 SF

      600 4th St

      OFFICE BUILDING • 218,966 SF
      600 4th St, Sioux City, IA 51101-1750
      View Details

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    Similar Nearby for Lease

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      Downtown Sioux City Office Space

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    • $12 SF/Yr
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      Historic Sioux City Office Space

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      View Details
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    Sioux City, IA 51101
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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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