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

    2400 41st St Sioux Falls, SD 57105-6119

    • Medical offices
    • 6,770 SF
    • 0.87 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US79-0063007
    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

    • Aspen Dental - Sioux Falls, SD / Dental Office
    • Amine Bellil / Dental Office
    • Unique Decor / Interior Design / Home Decor Store
    • Motto Clear Aligners / Dental Office
    • Eliott Suh / Dental Office

    Property Details for 2400 41st St

    Year built
    2015
    Construction
    FRAME
    Lot size
    0.87 lot acres
    Property size
    6,770 SF
    Zone code
    NO;SPECIAL NOTE
    Property type
    Medical offices
    Property subtype
    Medical space
    APN
    42592
    APU
    42592

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Sioux Falls
    County
    Minnehaha
    State
    South Dakota
    Longitude
    -96.7553
    Latitude
    43.5153
    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
    $28,976
    $427,600
    $1,126,000
    $1,553,600
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $3,285,000
      53,041 SF

      1315 Clf Ave

      MEDICAL BUILDING • 53,041 SF
      1315 Clf Ave, Sioux Falls, SD 57105-1058
      View Details
    • Value Estimation
      $3,905,000
      89,935 SF

      810 23rd St

      MEDICAL BUILDING • 89,935 SF
      810 23rd St, Sioux Falls, SD 57105-2135
      View Details
    • Value Estimation
      $590,000
      8,560 SF

      3801 Elmwood Ave

      MEDICAL BUILDING • 8,560 SF
      3801 Elmwood Ave, Sioux Falls, SD 57105-6565
      View Details
    • Value Estimation by Request
      3,420 SF

      229 39th St Ste, Unit 100

      MEDICAL BUILDING • 3,420 SF
      229 39th St Ste, Sioux Falls, SD 57105-5700
      View Details
    • Value Estimation by Request
      6,453 SF

      2700 49th St

      DENTAL BUILDING • 6,453 SF
      2700 49th St, Sioux Falls, SD 57105-6566
      View Details
    • Value Estimation by Request
      4,981 SF

      520 22nd St

      MEDICAL BUILDING • 4,981 SF
      520 22nd St, Sioux Falls, SD 57105-1702
      View Details

    Similar Nearby for Sale

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      Sioux Falls Office/Medical Building

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      Three-bedroom duplex with attached garage, ideal for investors.
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      Rare Sioux Falls Building Site

      One-acre building site with mature trees in premier location.
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    • $1,091,608

      Prime Land in Growing Area

      Land with frontage on Ellis Road in a growing area.
      2801 41St St, Sioux Falls, SD 57105
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    Similar Nearby for Lease

    • $10 SF/Yr
      1,754 SF

      Prime Sioux Falls Office Space

      2,880 sq ft, Central Location, 55 Parking Spaces
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    • $15 SF/Yr

      Professional Service Building For Lease

      Professional building suitable for service businesses, available March 1, 2025.
      2200 W 49Th St, Sioux Falls, SD 57105
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    • $8 SF/Yr
      360,262 SF

      Western Mall Office Space Available

      Prime Office Space, High Traffic Location
      2101 41St St, Sioux Falls, SD 57105
      View Details
    • Contact for pricing
      45,339 SF

      New Professional Office Building

      New three-story office building with underground parking and high visibility.
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    • $20 SF/Yr
      1,074 SF

      Professional Office Space Available

      Office space with private offices, reception, and ample parking.
      2500 W 49Th St, Sioux Falls, SD 57105
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    • $12 SF/Yr
      4,444 SF

      South Sioux Falls Office Suites

      Professional office suites in south Sioux Falls with private offices.
      1500 W 51St St, Sioux Falls, SD 57105
      View Details
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    2400 41st St
    Sioux Falls, SD 57105-6119
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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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