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

    2420 Correctionville Rd Sioux City, IA 51106-5737

    • Office buildings
    • 7,830 SF
    • 0.31 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US25-0279842
    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

    • Avery Brothers Sign Co / Marketing & Advertising / Advertising Agency
    • Verde Outdoor / Marketing & Advertising / Advertising Agency

    Property Details for 2420 Correctionville Rd

    Year built
    1978
    Lot size
    0.31 lot acres
    Property size
    7,830 SF
    Property type
    Office buildings
    APN
    894727459001
    APU
    894727459001

    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 City
    County
    Woodbury
    State
    Iowa
    Longitude
    -96.3782
    Latitude
    42.4905
    CBSA code
    43580
    CBSA name
    SIOUX CITY, IA-NE-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
    2023
    $21,694
    $73,400
    $642,500
    $715,900
    -
    $73,400
    $642,500
    $715,900

    Comparable in this City

    • Value Estimation
      $1,035,000
      9,040 SF

      4265 Sergeant Rd

      OFFICE BUILDING • 9,040 SF
      4265 Sergeant Rd, Sioux City, IA 51106-4625
      View Details
    • Value Estimation
      $940,000
      10,979 SF

      4200 Lewis Blvd

      OFFICE BUILDING • 10,979 SF
      4200 Lewis Blvd, Sioux City, IA 51106
      View Details
    • Value Estimation by Request
      1,936 SF

      4101 Gordon Dr

      OFFICE BUILDING • 1,936 SF
      4101 Gordon Dr, Sioux City, IA 51106-1377
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    • Value Estimation by Request
      748 SF

      2038 Saint Aubin St

      OFFICE BUILDING • 748 SF
      2038 Saint Aubin St, Sioux City, IA 51106-2406
      View Details
    • Value Estimation by Request
      751 SF

      2036 Saint Aubin St

      OFFICE BUILDING • 751 SF
      2036 Saint Aubin St, Sioux City, IA 51106-2406
      View Details
    • Value Estimation by Request
      2,016 SF

      3916 Transit Ave, Unit 18

      OFFICE BUILDING • 2,016 SF
      3916 Transit Ave, Sioux City, IA 51106-2445
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      0.19 Acres

      Office Spaces in Sioux City

      Office spaces available, expansion options, utilities partially included.
      2002 St S, Sioux City, IA 51106
      View Details
    • $2,000,000
      11,946 SF

      Two-Tenant Commercial Building For Sale

      Fully occupied commercial building with long-term leases in Sioux City.
      3301 Singing Hills Blvd, Sioux City, IA 51106
      View Details
    • New
      Contact for pricing
      4,288 SF

      Mayfair Office Building in Morningside

      Two-level office building in the heart of Morningside.
      4280 Sergeant Rd, Sioux City, IA 51106
      View Details
    • Contact for pricing
      1,100 SF

      Lincolnshire Office Park Suites

      Office suites in Morningside, Sioux City. Utilities included.
      3539 Souther Hl Dr, Sioux City, IA 51106
      View Details
    • Contact for pricing
      0.19 Acres

      Office Spaces in Sioux City

      Office spaces available, expansion possible, utilities partially included.
      2002 St S, Sioux City, IA 51106
      View Details
    • $450,000
      0.41 Acres

      Sioux City Commercial Property

      Well-located commercial property with proven rental income in Sioux City.
      4242 Gordon Dr, Sioux City, IA 51106
      View Details

    Similar Nearby for Lease

    • $10 SF/Yr
      5,603 SF

      Office Suite with Open Layout

      Office suite featuring open rooms, private office, and conference room.
      4700 Gordon Dr, Sioux City, IA 51106
      View Details
    • $17 SF/Yr
      7,537 SF

      New Office Space Available

      Newly constructed office space in Whispering Creek development.
      6115 Ste B Whispering Crk Dr, Sioux City, IA 51106
      View Details
    • $28 SF/Yr
      6,336 SF

      Medical Office Space Near Hospital

      Former dialysis center near Unity Point St. Lukes.
      5865 Sunnybrook Dr, Sioux City, IA 51106
      View Details
    • $14 SF/Yr
      16,055 SF

      Prime Retail and Office Location

      Located in a busy retail corridor near major shopping complexes.
      3401 Singing Hills Blvd, Sioux City, IA 51106
      View Details
    • $28 SF/Yr
      6,336 SF

      Sunnybrook Drive Medical Office

      Class A Medical Office Building, Sioux City, IA
      5865 Sunnybrook Dr, Sioux City, IA 51106
      View Details
    • $86 SF/Yr
      11,640 SF

      Prime Sioux City Office Building

      11,640 SF Executive Office, Hwy 20 Access
      2800 Gordon Dr, Sioux City, IA 51106
      View Details
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    2420 Correctionville Rd
    Sioux City, IA 51106-5737
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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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