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Property profile & analytics
OFF-MARKET
Estimated value
$575,000
Grocery and convenience stores
3501 49th St Sioux Falls, SD 57106-2263
Individually Owned
2-yr Hold
Free & Clear
Property ID
US79-0064591
Property profile
Verified
Property type
Grocery and convenience stores
Use group
CONVENIENCE STORE
Year built
1984
Construction
FRAME
Total area
2,276 SF
Lot
0.46 ac (19,876 SF)
Zoning code
FP;FP
APN
55100
UPID
US79-0064591
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
-
John Harris Elementary High School
-
Shop 'N Cart Convenience Stores Department Store
-
ATM Atm
-
Kali Block Physician
-
The 49er - Marathon Grocery & Convenience Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$605k
CAP Approach
CAP
$465k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$575k
Owner & transaction history
Matthew Plaetz · 2 yrs held
Matthew Plaetz
since 2024
Last sale
$575,000
2 recorded transactions
Zoning & alternative use
FP;FP · Sioux Falls, SD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$540,000
+649.6%
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
$645,000
ML approach
$605,000
CAP Approach
CAP Return
Estimation
6%
$505,000
6.5%
$465,000
7%
$435,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$540,000
Change: +650% · Conversion: Difficult
Blend value · Realmo final
$575k
Range $518k – $633k · ±10% · vs last sale $575k (Aug 3 2022)
Last sale anchor
$575k
Aug 3 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
$253 / 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
$7,459
Tax year 2022
Assessed value
$383,900
Assessed 2022
Previous assessed
$432,600
-11.3% YoY
Effective rate
1.94%
On assessed value
Assessed land
$159,000
Assessed improvement
$224,900
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
Grocery and convenience stores
Use group
CONVENIENCE STORE
Status
Off-Market
Year built
1984
Construction
FRAME
Heating
YES
Cooling
CENTRAL
Stories
1
Total area
2,276 SF
Lot
0.46 ac (19,876 SF)
Zoning code
FP;FP
APN
55100
UPID
US79-0064591
Jurisdiction
MINNEHAHA
Zoning & alternative use
FP;FP · Sioux Falls, SD
Zoning FP;FP · permitted uses
FP;FP · Sioux Falls, SD
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Sioux Falls. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE
Est. value
$540,000
WAREHOUSE, STORAGE
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
1984
Construction
FRAME
Heating
YES
Cooling
Yes
Stories
1
Lot
0.46 ac
Current owner
From public records · entity-resolved
Matthew Plaetz
Individual
Free & Clear · 2 yrs held
Mailing address
1601 S MINNESOTA AVE, SIOUX FALLS, SD 57105-1743
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 11, 2024
$294,500
Matthew Plaetz
Chailee Davidson
Warranty Deed
—
Aug 3, 2022
$575,000
Cioux Siouxfalls LLC
Stern Oil Company INC
Warranty Deed
$460,000 · First Bank & Trust
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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