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    FOR SALE
    Warehouses

    114 S Reid St, Sioux Falls, SD 57103

    3,049 SF 0.37 ac lot Built 1910
    Entity Owned 3-yr Hold ~ Est. High Equity
    Property ID
    US79-0071351
    Property summary
    AI-generated overview

    This exceptional 3,109-square-foot flex space, located in Minnehaha County, presents a unique investment opportunity. Originally built in 1910 as a locomotive boiler repair facility, the building boasts impressive 2-inch thick brick exterior walls, showcasing its historical character. The single-tenant property is zoned DTPUD, offering versatility for various uses and redevelopment potential. The building's unique design and prime location just south of 8th & Railroad and the Lumber Exchange Building, and west of a planned railyard site development, and south of the announced Riverline District, make it an attractive proposition. While the listed square footage is 3,109, a second floor exists (not included in the square footage) offering additional space for potential living space, retail, or office use, although the side wall height may present limitations. The property is currently vacant and ready for immediate occupancy. A negotiable build-out allowance may be available, and the ownership group is open to discussing redevelopment options, making this a highly adaptable space for a discerning tenant. This is a rare chance to acquire a piece of history with significant future potential.

    Property profile
    Verified
    Property type Warehouses
    Use group WAREHOUSE, STORAGE
    Year built 1910
    Construction TYPE NOT SPECIFIED
    Total area 3,049 SF
    Lot 0.37 ac (16,000 SF)
    Zoning code FP;FP
    APN 53856
    UPID US79-0071351
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    $1.23M
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    by Request
    Blend (final) Blend
    $1.14M
    Owner & transaction history
    New Wave Holdings LLC · 3 yrs held
    New Wave Holdings LLC
    since 2023
    Last sale
    $1.0M
    1 recorded transaction
    2023
    $1.0M
    Zoning & alternative use
    FP;FP · Sioux Falls, SD
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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    More about this property
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