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Property profile & analytics
FOR LEASE
Grocery and convenience stores
1220 E 57Th St Sioux Falls, SD 57108
Entity Owned
Absentee Owner
Free & Clear
Property ID
US79-0051220
For Lease
1 / 9
$22 SF/Yr
1220 E 57Th St, Sioux Falls, SD 57108
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Property summary
AI-generated overview
Oak Ridge Plaza offers a unique retail opportunity in a high-traffic location. This single-story, 5,890 square foot building, constructed in 1995 and renovated in 2000, sits on a 1.53-acre lot at the corner of 57th Street and Cliff Avenue in the Oak Ridge/Get N' Go Plaza. The property features a rare four-lane drive-thru, providing exceptional convenience for customers. Currently, 1,699 square feet of retail space is available for lease, representing one of two suites within the building. The minimum divisible space is also 1,699 square feet. Building and monument signage opportunities are available, ensuring high visibility to the substantial daily traffic of 27,000 vehicles passing the signalized intersection. This prime location offers excellent exposure and accessibility for businesses seeking a thriving retail environment. The space became available in July 2022.
Property profile
Verified
Property type
Grocery and convenience stores
Use group
CONVENIENCE STORE
Year built
1994
Construction
FRAME
Total area
5,674 SF
Lot
1.53 ac (66,516 SF)
APN
58883
UPID
US79-0051220
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
Current use
Occupant on record · Public records
-
ATM Cortrust Bank Na Bank Check Cashing
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$420k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$655k
Blend (final)
Blend
$535k
Owner & transaction history
FIRST BANK SOUTH DAKOTA NA TRUST
FIRST BANK SOUTH DAKOTA NA TRUST
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$555,000
+144.3%
Restaurant
$535,000
+135.6%
Office building
$410,000
+80.6%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Sioux Falls submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Sioux Falls submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$420,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$555,000
Change: +144% · Conversion: Easy
RESTAURANT
$535,000
Change: +136% · Conversion: Difficult
OFFICE BUILDING
$410,000
Change: +81% · Conversion: Moderate
RETAIL STORES
$380,000
Change: +69% · Conversion: Easy
AUTO REPAIR, GARAGE
$375,000
Change: +66% · Conversion: Difficult
MEDICAL BUILDING
$360,000
Change: +58% · Conversion: Difficult
Blend value · Realmo final
$535k
Range $482k – $589k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$94 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$28,008
Tax year 2022
Assessed value
$1,463,200
Assessed 2022
Previous assessed
$1,463,200
+0.0% YoY
Effective rate
1.91%
On assessed value
Assessed land
$532,300
Assessed improvement
$930,900
Applied tax rate
90,495.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Grocery and convenience stores
Use group
CONVENIENCE STORE
Status
For Lease
Year built
1994
Construction
FRAME
Heating
YES
Cooling
CENTRAL
Buildings
2
Stories
1
Total area
5,674 SF
Lot
1.53 ac (66,516 SF)
APN
58883
UPID
US79-0051220
Jurisdiction
MINNEHAHA
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$555,000
RESTAURANT
Est. value
$535,000
OFFICE BUILDING
Est. value
$410,000
RETAIL STORES
Est. value
$380,000
AUTO REPAIR, GARAGE
Est. value
$375,000
MEDICAL BUILDING
Est. value
$360,000
COMMERCIAL (GENERAL)
RESTAURANT
OFFICE BUILDING
RETAIL STORES
AUTO REPAIR, GARAGE
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1994
Construction
FRAME
Heating
YES
Cooling
Yes
Stories
1
Buildings
2
Lot
1.53 ac
Current owner
From public records · entity-resolved
FIRST BANK SOUTH DAKOTA NA TRUST
Entity
Free & Clear · 0 yrs held
Mailing address
951 S MARION RD #1, SIOUX FALLS, SD 57106-0238
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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