Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2912 Rice St Sioux Falls, SD 57103
    Back to Search
    Property profile & analytics

    2912 Rice St Sioux Falls, SD 57103

    View on Map
    • Mobile home & RV parks
    • 34,848 SF
    Off-Market
    Property ID
    US79-0056701
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Mobile home & RV parks

    Property Details for 2912 Rice St

    Year built
    1940
    Property size
    34,848 SF
    Property type
    Mobile home & RV parks

    Description

    This exceptional investment opportunity in Sioux Falls, South Dakota, presents a unique blend of industrial and residential properties. Located at 2912 E Rice St, this 34,848 square foot property boasts a diverse portfolio of assets. The site includes two separate two-bedroom, one-bathroom houses, providing immediate rental income potential. Eleven garage stalls, complemented by extensive additional parking, cater to diverse needs. A standout feature is a heated double-car garage stall, currently set up as a workshop, offering versatile usage options. The property's zoning allows for both mobile home and light industrial uses (S 1/2 Mobile home///N 1/2 Light Industrial), maximizing flexibility and potential returns. Built in 1940, the five buildings sit on a single lot, offering significant development potential. The property's strategic location near the interstate ensures convenient access to all areas of Sioux Falls, enhancing its appeal to both residents and businesses. The asking price is $350,000, translating to $10.04 per square foot. This represents a compelling investment opportunity with strong potential for appreciation and diverse income streams. The property is owned by Meier Construction LLC. This property is a rare find in the Sioux Falls market, offering a unique combination of residential and industrial uses in a highly desirable location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Sioux Falls
    County
    Minnehaha
    State
    South Dakota
    Longitude
    -96.6882703
    Latitude
    43.5663319

    Comparable in this City

    • Contact for pricing
      215,169 SF

      Modern Multifamily Community in Sioux Falls

      179-unit apartment complex in Sioux Falls, South Dakota.
      950 N Cliff Ave, Sioux Falls, SD 57103
      View Details
    • $650,000
      5,200 SF

      Sioux Falls Four-Plex Investment

      Immaculately maintained four-plex in a highly desirable Sioux Falls area.
      2800 E Madison St, Sioux Falls, SD 57103
      View Details
    • $369,900
      2,280 SF

      Sioux Falls Ranch Duplex

      Income-producing duplex in Hilltop Area, Sioux Falls.
      3609 E 18Th St, Sioux Falls, SD 57103
      View Details
    • $314,900
      2,000 SF

      Sioux Falls Duplex Investment

      Well-maintained duplex in Sioux Falls with immediate cash flow.
      202 N French Ave, Sioux Falls, SD 57103
      View Details
    • $399,900
      2,729 SF

      Sioux Falls Fourplex with Renovated Units

      Fourplex in Sioux Falls with renovated units and new roof.
      201 N French Ave, Sioux Falls, SD 57103
      View Details
    • $6,250,000

      Sioux Falls Multifamily Investment Opportunity

      Two 42-unit buildings with remodeled units and high occupancy.
      3400-3404 East 11Th St, Sioux Falls, SD 57103
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      215,169 SF

      Modern Multifamily Community in Sioux Falls

      179-unit apartment complex in Sioux Falls, South Dakota.
      950 N Cliff Ave, Sioux Falls, SD 57103
      View Details
    • $650,000
      5,200 SF

      Sioux Falls Four-Plex Investment

      Immaculately maintained four-plex in a highly desirable Sioux Falls area.
      2800 E Madison St, Sioux Falls, SD 57103
      View Details
    • $369,900
      2,280 SF

      Sioux Falls Ranch Duplex

      Income-producing duplex in Hilltop Area, Sioux Falls.
      3609 E 18Th St, Sioux Falls, SD 57103
      View Details
    • Contact for pricing
      240,986 SF

      Large Multifamily Community in Sioux Falls

      248-unit apartment complex in established residential area.
      4213 E 12Th St, Sioux Falls, SD 57103
      View Details
    • Contact for pricing
      107,368 SF

      Sioux Falls Multifamily Investment

      Garden-style apartment community in Sioux Falls, South Dakota.
      1311 N Cleveland Ave, Sioux Falls, SD 57103
      View Details
    • $314,900
      2,000 SF

      Sioux Falls Duplex Investment

      Well-maintained duplex in Sioux Falls with immediate cash flow.
      202 N French Ave, Sioux Falls, SD 57103
      View Details

    Similar Nearby for Lease

    • $7 SF/Yr

      Sioux Falls Flex Space Available

      Flex space for lease in northeast Sioux Falls.
      1405 North Cleveland Ave, Sioux Falls, SD 57103
      View Details
    • Sponsored
      Contact for pricing

      CNA Building

      Discover many ways to work your way in CNA Building
      101 Reid St, Sioux Falls, SD 57103
      View Details
    • $8 SF/Yr
      2,496 SF

      East Bank Flex Space Available

      Flex space in the East Bank sector of Sioux Falls.
      121 S Franklin Ave, Sioux Falls, SD 57103
      View Details
    • $7 SF/Yr

      Sioux Falls Warehouse with Sprinkler

      Warehouse space featuring one loading dock and 3-phase power.
      2030 E 52Nd St N, Sioux Falls, SD 57103
      View Details
    • $2,000 /Mo
      12,819 SF

      Sioux Falls Flex Space Available

      5,877 SF flex space for lease in Sioux Falls.
      1405-1407 N Cleveland Ave, Sioux Falls, SD 57103
      View Details
    • $7 SF/Yr

      Sioux Falls Warehouse with Sprinkler

      Warehouse space featuring one loading dock and sprinkler system.
      2030 E 52Nd St N, Sioux Falls, SD 57103
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2912 Rice St
    Sioux Falls, SD 57103
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2912 Rice St, Sioux Falls, SD, 57103
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!