1025 Highline Pl Sioux Falls, SD 57110-1000
- Strip malls
- 14,523 SF
- 3.29 lot acres
Current Use by Public Records
- Subway / Caterer / Sandwich Shop
Property Details for 1025 Highline Pl
- Year built
- 2012
- Construction
- TYPE NOT SPECIFIED
- Lot size
- 3.29 lot acres
- Property size
- 14,523 SF
- Property type
- Strip malls
- Property subtype
- Neighborhood centers
- APN
- 83765
- APU
- 83765
Description
This exceptional Class A retail investment property, located at 1025 S Highline Pl, Sioux Falls, SD 57110, presents a compelling opportunity. The 14,523 square foot, single-building center boasts 13,982 square feet of net rentable space and is currently 100% occupied by five diverse tenants: Subway, Gent's Grooming, GNC, Verizon, and Community Blood Bank. This stabilized investment offers a pro-forma cap rate of 6.76% and a pro-forma NOI of $344,969. Built in 2012, the property sits on a 3.29-acre lot and benefits from a NNN lease structure. The property is situated within the thriving Dawley Farm Village shopping center, the #4 shopping center in South Dakota, shadow-anchored by Target and other regional power centers, attracting over 7.3 million visits annually. This prime location enjoys excellent visibility and accessibility via Veterans Parkway, a major thoroughfare connecting I-29 and I-90. The surrounding area demonstrates strong demographics, with a 3-mile radius population of 61,975 and an average household income of $82,000. Further growth is anticipated with over 750 new housing units under construction and plans for over 1,600 acres of additional residential development. 2023 property taxes payable in 2024 are $47,928.06. The property is zoned C-4 Commercial. This is a rare opportunity to acquire a high-performing retail asset in a rapidly expanding market. The asking price is $5,100,000.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $4,090,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $4,675,000
- 6.5%
- $4,660,000
- 7%
- $4,340,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $5,480,000
- Geo Method
- $4,305,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $4,645,000
- Retail
- $5,985,000
- Mixed-Use
- $5,490,000
- Hospitality
- $5,515,000
- Educational
- $4,635,000
- Residential Income
- $5,970,000
- Energy
- $5,765,000
- Income-Based Land
- $4,635,000
- Food Service
- $4,940,000
Location Insight
- Map
- Local Demand
- City
- Sioux Falls
- County
- Minnehaha
- State
- South Dakota
- Longitude
- -96.6529
- Latitude
- 43.5385
- CBSA code
- 43620
- CBSA name
- SIOUX FALLS, SD METROPOLITAN STATISTICAL AREA
