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Property profile & analytics
FOR SALE
Distribution centers
1501 N Industrial Ave, Sioux Falls, SD 57104
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US79-0030874
For Sale
1 / 5
$13,500,000
1501 N Industrial Ave, Sioux Falls, SD 57104
View Listing →
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1964
Construction
TYPE NOT SPECIFIED
Total area
25,182 SF
Lot
1.1 ac (48,090 SF)
APN
24602
UPID
US79-0030874
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
$1.83M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.14M
Blend (final)
Blend
$1.56M
Owner & transaction history
Creative Land LLC · 4 yrs held
Creative Land LLC
since 2021
Last sale
$1.5M
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$2.4M
+30.4%
Retail stores
$2.3M
+26.5%
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
$1,805,000
ML approach
$1,830,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,810,000
Current use
AUTO REPAIR, GARAGE
$2,360,000
Change: +30% · Conversion: Easy
RETAIL STORES
$2,290,000
Change: +26% · Conversion: Moderate
Blend value · Realmo final
$1.56M
Range $1.40M – $1.71M · ±10% · vs last sale $1.50M (Oct 27 2021)
Last sale anchor
$1.50M
Oct 27 2021
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
$62 / 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
$16,656
Tax year 2022
Assessed value
$862,900
Assessed 2022
Previous assessed
$841,400
+2.6% YoY
Effective rate
1.93%
On assessed value
Assessed land
$84,100
Assessed improvement
$778,800
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
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
For Sale
Year built
1964
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
NONE
Stories
1
Total area
25,182 SF
Lot
1.1 ac (48,090 SF)
APN
24602
UPID
US79-0030874
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
WAREHOUSE, STORAGE Current
Est. value
$1.8M
AUTO REPAIR, GARAGE
Est. value
$2.4M
RETAIL STORES
Est. value
$2.3M
WAREHOUSE, STORAGE Current
AUTO REPAIR, GARAGE
RETAIL STORES
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
1964
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
1
Lot
1.1 ac
Current owner
From public records · entity-resolved
Creative Land LLC
Entity
Mailing address
1701 N F AVE, SIOUX FALLS, SD 57104-0210
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 27, 2021
$1,500,000
Creative Land LLC
Eugene Mcgowan SR.
Warranty Deed
$1,500,000 · Liberty National Bank
Jan 15, 2020
$1,185,000
Eugene Mcgowan SR.
Bdj LLC
Warranty Deed
$1,116,000 · American Bank & Trust Co
Jan 20, 2017
—
Bdj LLC
—
Deed
related
$798 · Security National Bank
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.
Try Rey
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