114 S Reid St, Sioux Falls, SD 57103
For Sale
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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.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2022Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
FP;FP · Sioux Falls, SDSioux Falls. Always verify with local authorities before improvements.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.