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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2301 Russell St Sioux Falls, SD 57104-1136

    • Office buildings
    • 8,018 SF
    • 0.71 lot acres
    OFF-MARKET
    Value Estimations
    $865,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US79-0063210
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Erica Bukovich / Pharmacy
    • designArc Group / Architect
    • designArc Real Estate / Real Estate Agency

    Property Details for 2301 Russell St

    Year built
    1977
    Construction
    FRAME
    Lot size
    0.71 lot acres
    Property size
    8,018 SF
    Property type
    Office buildings
    APN
    39928
    APU
    39928

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $910,000
      Market price range: $587k - $1.28M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $935,000
      Current use
      AUTO REPAIR, GARAGE
      $750,000
      Change: -20% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Sioux Falls
    County
    Minnehaha
    State
    South Dakota
    Longitude
    -96.7579
    Latitude
    43.5635
    CBSA code
    43620
    CBSA name
    SIOUX FALLS, SD METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $12,961
    $61,700
    $624,100
    $685,800
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      2,464 SF

      4404 Hillcrest Ave

      OFFICE BUILDING • 2,464 SF
      4404 Hillcrest Ave, Sioux Falls, SD 57104
      View Details
    • Value Estimation
      $4,060,000
      33,416 SF

      4615 Lewis Ave

      OFFICE BUILDING • 33,416 SF
      4615 Lewis Ave, Sioux Falls, SD 57104-7116
      View Details
    • Value Estimation
      $3,530,000
      32,824 SF

      314 Main Ave

      OFFICE BUILDING • 32,824 SF
      314 Main Ave, Sioux Falls, SD 57104-6463
      View Details
    • Value Estimation
      $1,755,000
      15,264 SF

      224 Phillips Ave

      OFFICE BUILDING • 15,264 SF
      224 Phillips Ave, Sioux Falls, SD 57104-6063
      View Details
    • Value Estimation
      $1,825,000
      14,752 SF

      1209 Russell St

      OFFICE BUILDING • 14,752 SF
      1209 Russell St, Sioux Falls, SD 57104
      View Details
    • Value Estimation
      $9,390,000
      87,281 SF

      110 Minnesota Ave

      OFFICE BUILDING • 87,281 SF
      110 Minnesota Ave, Sioux Falls, SD 57104-6440
      View Details

    Similar Nearby for Sale

    • $12,618,161
      122,293 SF

      Sioux Falls Data Center Opportunity

      122,293 SF data center or office building for sale.
      500 East 56Th St, Sioux Falls, SD 57104
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    • $2,230,000
      20,141 SF

      High-Quality Building on Russell Street

      Well-maintained building with newer roof and HVAC, great visibility.
      621 West Russell St, Sioux Falls, SD 57104
      View Details
    • $2,230,000
      20,141 SF

      Well-Maintained Building on Russell Street

      High-quality building with visibility on Russell Street, Sioux Falls.
      621 W Russell St, Sioux Falls, SD 57104
      View Details
    • $7,381,680
      123,028 SF

      Sioux Falls Adaptable Industrial Building

      Adaptable building suitable for data center, industrial, or self-storage use.
      701 E 60Th St N, Sioux Falls, SD 57104
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    • $2,450,000
      6,800 SF

      Sioux Falls Office Building

      Updated office building with heated parking garage and surface parking.
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    • $1,450,000
      10,280 SF

      Former Daycare with Parking

      Adaptable building near Terrace Park and local schools.
      711 N Lake Ave, Sioux Falls, SD 57104
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    Similar Nearby for Lease

    • $25 SF/Yr
      9,927 SF

      Prime Sioux Falls Office/Warehouse

      9,927 SF Office & Warehouse Space. Available September 1st.
      1610 Minnesota Ave, Sioux Falls, SD 57104
      View Details
    • $23 SF/Yr

      Historic Office Space Available

      Office space in the historic Gas Company Building for rent.
      114 S Main Ave, Sioux Falls, SD 57104
      View Details
    • $10 SF/Yr
      2,400 SF

      Downtown Office/Retail Space Available

      Office/retail space with high traffic and convenient access.
      112 N Phillips Ave, Sioux Falls, SD 57104
      View Details
    • $20 SF/Yr
      3,158 SF

      Turn-Key Office Suites Available

      Class A office spaces in expanding Dawley Farms Village.
      5501-5545 E 18Th St, Sioux Falls, SD 57104
      View Details
    • $12 SF/Yr
      2,240 SF

      Retail/Office Space with Drive-Thru

      Retail and office spaces with drive-thru available for lease.
      5000-5028 S Cliff Ave, Sioux Falls, SD 57104
      View Details
    • $729 /Mo
      5,714 SF

      Office Space Near Downtown

      Office space available February 1st, 2026, close to downtown.
      100 S Spring Ave, Sioux Falls, SD 57104
      View Details
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    2301 Russell St
    Sioux Falls, SD 57104-1136
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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