2701 Carolyn Ave, Sioux Falls, SD 57106
- Retail space
- 9,928 SF
- 1.54 lot acres
Current Use by Public Records
- Retail space
Property Details for 2701 Carolyn Ave
- Year built
- 1972
- Construction
- TYPE NOT SPECIFIED
- Lot size
- 1.54 lot acres
- Zone code
- FP;FP
- Property type
- Retail space
- APN
- 27856
- APU
- 27856
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Jan 24, 2025 | $1,893,000 | Skylane Services LLC | Kcc I Real Estate LLC | Warranty Deed | $956k · Cortrust Bank NA |
| Jan 24, 2025 | — | Skylane Services LLC | — | Deed · related | $765k · Cortrust Bank NA |
| May 23, 2022 | — | Kcc I Real Estate LLC | — | Deed · related | $353k · Minnwest Bank |
Description
This exceptional 25,120-square-foot industrial property in Sioux Falls, South Dakota, presents a unique owner-occupant investment opportunity. Located at 2701 S Carolyn Ave, in the desirable Meadows on the River development, this property offers 11,200+ square feet of immediately usable space, with potential for future expansion as existing leases expire. Built in 1972, the single building sits on a 1.53-acre lot and benefits from excellent visibility from I-29. The property includes 72 shared parking stalls and is situated near a variety of businesses, including Sturdevant's Auto Parts, Shahi India Grill, and several restaurants and hotels. The surrounding area boasts strong retail anchors such as The Home Depot, Menards, Sam's Club, and more, drawing significant traffic. The property's current tenants include 1-800-Hanson and Lloyd Companies (storage), along with a short-term manufacturing tenant. This NNN-leased, multi-tenant property is offered for sale by owner at $2,200,000. Its proximity to Lake Lorraine, a premier development attracting over 3.2 million annual visitors, further enhances its value and potential. Rent bumps are included in the sale. This is an ideal opportunity for a business seeking both investment and immediate occupancy in a high-traffic, well-established location.
Value Estimations
-
AI approach
- Method
- Estimation
- ML approach
- $1,795,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $1,920,000
- 6.5%
- $1,770,000
- 7%
- $1,645,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $1,391,000
Market price range: $362k - $1.39M -
Alternative Use
- Use
- Estimation
- OFFICE BUILDING
- $1,155,000
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Sioux Falls
- County
- Minnehaha
- State
- South Dakota
- Longitude
- -96.7793
- Latitude
- 43.5204
- CBSA code
- 43620
- CBSA name
- SIOUX FALLS, SD METROPOLITAN STATISTICAL AREA
