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    3600 S Westport Ave Sioux Falls, SD 57106

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    3600 S Westport Ave Sioux Falls, SD 57106

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    • Office buildings
    • 16,908 SF
    • 1.60 lot acres
    For Lease
    $1,825,000
    View Listing →
    Office Space Near Empire Mall For Lease
    $1,825,000

    Office Space Near Empire Mall

    Office space for rent near the Empire Mall.

    3600 S Westport Ave, Sioux Falls, SD 57106
    View Listing
    Property ID
    US79-0064809
    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

    • 3 Cord Photography / Photography Service / (Bike/Boat/Book/etc) Store
    • Solis Photography / Wedding Service / Photography Service
    • Solis Photo Portraits / (Bike/Boat/Book/etc) Store / Photography Service
    • Kamie Wittrock Photography / Photography Service / (Bike/Boat/Book/etc) Store
    • Primal - Sioux Falls Personal Training/Group Fitness / Gym & Fitness Center

    Property Details for 3600 S Westport Ave

    Year built
    1978
    Construction
    TYPE NOT SPECIFIED
    Lot size
    1.60 lot acres
    Property size
    16,908 SF
    Zone code
    FP;FP
    Property type
    Office buildings
    APN
    40716
    APU
    40716

    Description

    This exceptional Class A office building, totaling 18,160 square feet, is situated on a 1.6-acre lot at 3600 S. Westport Avenue in Minnehaha County. Built in 1978 and completely renovated in 2023, the property offers five available executive office suites ranging from 98 to 146 contiguous square feet. Currently, 622 square feet of space is vacant. The building features a shared lobby area, conference room, and restroom facilities, all conveniently accessible to tenants. A significant advantage is the all-inclusive lease rate, encompassing utilities and internet access. Ample parking is provided with 68 spaces available. The building's prime location offers excellent visibility and accessibility, with nearby neighbors including Target, Kohl's, Billion Automotive, The Empire Mall, Starbucks, Walgreens, Barnes & Noble, Empire Bowl, and Hy-Vee. While there are no elevators, the building's layout ensures easy access to all suites. This is an ideal opportunity for businesses seeking modern, efficient, and conveniently located executive office space. The property is a single building with multiple tenancies.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,816,000
      Market price range: $1.24M - $2.69M
      AI Estimate
      $1,312,000
      Market price range: $665k - $1.95M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,970,000
      Current use
      AUTO REPAIR, GARAGE
      $1,585,000
      Change: -20% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Sioux Falls
    County
    Minnehaha
    State
    South Dakota
    Longitude
    -96.7672
    Latitude
    43.5126
    CBSA code
    43620
    CBSA name
    SIOUX FALLS, 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
    2022
    $34,371
    $453,000
    $1,368,200
    $1,821,200
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,545,000
      15,407 SF

      4300 Oxbow Ave

      OFFICE BUILDING • 15,407 SF
      4300 Oxbow Ave, Sioux Falls, SD 57106-4110
      View Details
    • Value Estimation
      $545,000
      3,656 SF

      4401 Racket Dr

      OFFICE BUILDING • 3,656 SF
      4401 Racket Dr, Sioux Falls, SD 57106-2271
      View Details
    • Value Estimation
      $690,000
      5,336 SF

      6100 41st St

      OFFICE BUILDING • 5,336 SF
      6100 41st St, Sioux Falls, SD 57106-5556
      View Details
    • Value Estimation
      $3,440,000
      31,722 SF

      4210 53rd St

      OFFICE BUILDING • 31,722 SF
      4210 53rd St, Sioux Falls, SD 57106
      View Details
    • Value Estimation
      $2,095,000
      5,774 SF

      4301 12th St

      OFFICE BUILDING • 5,774 SF
      4301 12th St, Sioux Falls, SD 57106-0303
      View Details
    • Value Estimation by Request
      1,400 SF

      5122 26th St

      OFFICE BUILDING • 1,400 SF
      5122 26th St, Sioux Falls, SD 57106-3520
      View Details

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      40,451 SF

      Sioux Falls Office Building

      40,451 SF office building on 2.33 acres for sale.
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      12,908 SF

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      Two-story office building with included FF&E for sale.
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      Sioux Falls Office Building

      Office building with owner occupant opportunity in Sioux Falls.
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      5,023 SF

      Sioux Falls Office Property

      Office property for sale in Sioux Falls, South Dakota.
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      40,451 SF

      Sioux Falls Office Space Available

      Office space featuring open layout, private offices, and conference room.
      4009 W 49Th St, Sioux Falls, SD 57106
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Office Building Near I-29

      Office suites available for lease near I-29.
      4700 W 26Th St, Sioux Falls, SD 57106
      View Details
    • Contact for pricing

      Louise Avenue Office Suites Available

      Office suites for rent on Louise Avenue near Empire Mall.
      4320 S Louise Ave, Sioux Falls, SD 57106
      View Details
    • $14 SF/Yr

      Office/Retail Space Available For Sublease

      Office/retail space available for sublease with existing lease term.
      8609 W 26Th St, Sioux Falls, SD 57106
      View Details
    • Contact for pricing

      Office Space Near Empire Mall

      Office space for rent near the Empire Mall.
      3600 S Westport Ave, Sioux Falls, SD 57106
      View Details
    • Contact for pricing

      6701 W 41st St, Sioux Falls, SD 57106

      Retail space
      6701 W 41St St, Sioux Falls, SD 57106
      View Details
    • $10 SF/Yr

      Office Space with Direct Access

      Office suites available with parking and signage opportunities.
      4205 W 53Rd St, Sioux Falls, SD 57106
      View Details
    View Listing
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    Sioux Falls, SD 57106
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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.

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    3600 S Westport Ave, Sioux Falls, SD, 57106

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