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Property profile & analytics
OFF-MARKET
Estimated value
$3,085,000
Investment properties
217 Phillips Ave Sioux Falls, SD 57104-6317
Entity Owned
11-yr Hold
Free & Clear
Property ID
US79-0050528
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1912
Construction
TYPE NOT SPECIFIED
Total area
70,928 SF
Lot
0.45 ac (19,798 SF)
APN
43031
UPID
US79-0050528
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
-
Home Porch Gifts (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.09M
Owner & transaction history
Carpenter Building LLC · 11 yrs held
Carpenter Building LLC
since 2015
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$4.8M
+40.2%
Medical building
$4.5M
+29.7%
Auto repair, garage
$4.4M
+28.3%
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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$3,450,000
Current use
RETAIL STORES
$4,835,000
Change: +40% · Conversion: Easy
MEDICAL BUILDING
$4,470,000
Change: +30% · Conversion: Easy
AUTO REPAIR, GARAGE
$4,425,000
Change: +28% · Conversion: Difficult
OFFICE BUILDING
$3,820,000
Change: +11% · Conversion: Easy
WAREHOUSE, STORAGE
$3,110,000
Change: -10% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$2,760,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$3.09M
Range $2.78M – $3.39M · ±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
$43 / 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
$95,547
Tax year 2022
Assessed value
$5,266,900
Assessed 2022
Previous assessed
$4,120,700
+27.8% YoY
Effective rate
1.81%
On assessed value
Assessed land
$277,200
Assessed improvement
$4,989,700
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1912
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
CENTRAL
Stories
6
Rooms
16
Total area
70,928 SF
Lot
0.45 ac (19,798 SF)
APN
43031
UPID
US79-0050528
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) Current
Est. value
$3.5M
RETAIL STORES
Est. value
$4.8M
MEDICAL BUILDING
Est. value
$4.5M
AUTO REPAIR, GARAGE
Est. value
$4.4M
OFFICE BUILDING
Est. value
$3.8M
WAREHOUSE, STORAGE
Est. value
$3.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.8M
COMMERCIAL (GENERAL) Current
RETAIL STORES
MEDICAL BUILDING
AUTO REPAIR, GARAGE
OFFICE BUILDING
WAREHOUSE, STORAGE
NEIGHBORHOOD: SHOPPING CENTER
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
1912
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
6
Rooms
16
Lot
0.45 ac
Current owner
From public records · entity-resolved
Carpenter Building LLC
Entity
Free & Clear · 11 yrs held
Mailing address
PO BOX 2240, SIOUX FALLS, SD 57101-2240
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 1, 2015
$1,775,000
Carpenter Building LLC
Not Provided
Deed
—
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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