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Property profile & analytics
OFF-MARKET
Estimated value
$855,000
Office buildings
2900 Phillips Ave Sioux Falls, SD 57105-5731
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US79-0057023
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1974
Construction
FRAME
Total area
5,895 SF
Lot
0.46 ac (20,099 SF)
APN
37530
UPID
US79-0057023
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
-
Prins Insurance of Sioux Falls, Inc. Insurance Agency
-
Mold Testing Services, LLC Home Inspector
-
Brende & Meadors LLP Law Firm Financial Advisor
-
Brende & Meadors, LLP Law Firm
-
Sioux Falls Bankruptcy - Rob Meadors Law Firm Financial Advisor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$860k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$608k
Blend (final)
Blend
$855k
Owner & transaction history
Nordquist Properties LLC · 3 yrs held
Nordquist Properties LLC
since 2022
Last sale
$820,000
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$920,000
ML approach
$860,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$685,000
Current use
AUTO REPAIR, GARAGE
$550,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$855k
Range $770k – $941k · ±10% · vs last sale $820k (Oct 24 2022)
Last sale anchor
$820k
Oct 24 2022
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
$145 / 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
$9,351
Tax year 2022
Assessed value
$487,300
Assessed 2022
Previous assessed
$526,000
-7.4% YoY
Effective rate
1.92%
On assessed value
Assessed land
$120,600
Assessed improvement
$366,700
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1974
Construction
FRAME
Heating
YES
Cooling
CENTRAL
Stories
1
Total area
5,895 SF
Lot
0.46 ac (20,099 SF)
APN
37530
UPID
US79-0057023
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
OFFICE BUILDING Current
Est. value
$685,000
AUTO REPAIR, GARAGE
Est. value
$550,000
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
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
1974
Construction
FRAME
Heating
YES
Cooling
Yes
Stories
1
Lot
0.46 ac
Current owner
From public records · entity-resolved
Nordquist Properties LLC
Entity
Mailing address
4 S RIVERVIEW HTS, SIOUX FALLS, SD 57105-0253
Ownership since
2022
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
Oct 24, 2022
$820,000
Nordquist Properties LLC
Wollman Properties LLC
Warranty Deed
$656,000 · First Interstate Bank
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.
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