200 Phillips Ave Sioux Falls, SD 57104-6052
- Office buildings
- 47,448 SF
- 0.84 lot acres
Current Use by Public Records
- Sioux Falls Sports Authority / Corporate Office
- Coffea Roasterie and Espresso Bar / Coffee Shop
- Sioux Falls Development Foundation / Economic Development Agency / Real Estate Developer
- Greater Sioux Falls Chamber of Commerce / Chamber Of Commerce
- United Logistics Freight L.L.C / Transportation Service
Property Details for 200 Phillips Ave
- Year built
- 1991
- Construction
- STEEL FRAME
- Lot size
- 0.84 lot acres
- Property size
- 47,448 SF
- Zone code
- FP;FP
- Property type
- Office buildings
- APN
- 59804
- APU
- 59804
Description
This 30,900 square foot office building, constructed in 1992, offers a variety of spaces suitable for diverse businesses. Currently, one 612 square foot suite is available for lease within this multi-tenant building. The Commerce Center boasts a convenient downtown Sioux Falls location at the intersection of East 8th Street and North Phillips Avenue, placing it near the iconic Arc of Dreams sculpture. Its strategic position also provides easy access to two significant developments: The Steel District and Cherapa Place. The building features one elevator for convenient access to all floors. A key advantage for tenants on the lower level is direct access to the parking lot. Furthermore, the building offers direct access to the Sioux Falls Bike Trail, a 19.13-mile recreational path. The Commerce Center is anchored by prominent organizations including the Greater Sioux Falls Area Chamber of Commerce, Sioux Falls Development Foundation, and Experience Sioux Falls, underscoring its strong location and reputation. The surrounding area is rich with amenities, including a variety of boutiques, restaurants, coffee shops, hotels, and various services. Cultural attractions such as The Orpheum, The Washington Pavilion, and Falls Park are also within easy reach, offering employees and clients a vibrant and engaging environment. This property is ideal for traditional office, executive office, coworking, medical office, or creative office uses, and is well-suited for consulting firms, law firms, insurance agencies, government offices, or other similar businesses. In Minnehaha County, this building presents a unique opportunity for businesses seeking a central and well-connected location.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $6,405,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $5,585,000
- 6.5%
- $6,120,000
- 7%
- $6,175,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $5,840,000
- Geo Method
- $4,795,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $5,775,000
- Retail
- $5,695,000
- Mixed-Use
- $6,035,000
- Hospitality
- $5,725,000
- Educational
- $6,065,000
- Residential Income
- $5,955,000
- Energy
- $6,465,000
- Income-Based Land
- $6,290,000
- Food Service
- $6,445,000
Location Insight
- Map
- Local Demand
- City
- Sioux Falls
- County
- Minnehaha
- State
- South Dakota
- Longitude
- -96.7264
- Latitude
- 43.5491
- CBSA code
- 43620
- CBSA name
- SIOUX FALLS, SD METROPOLITAN STATISTICAL AREA
