3701 49th St Sioux Falls, SD 57106-4241

Property Details for 3701 49th St

Year built

1986

Construction

FRAME

Lot size

1.53 lot acres

Property size

27,223 SF

Zone code

FP;FP

Property type

Office buildings

APN

35068

APU

35068

Description

This exceptional investment opportunity presents a fully leased, 47,896 square foot office complex situated on a prominent 2.94-acre corner lot in Sioux Falls, South Dakota. The property, comprised of two buildings, boasts 31 tenants, achieving 100% occupancy and generating a strong net operating income (NOI) of $319,311, representing a 7.02% cap rate. Priced at $4,550,000 ($95/sq ft), this Class B office building offers significant upside potential. The property features a modified lease structure with short-term leases, strategically positioned to facilitate redevelopment or a buy-and-hold strategy with the potential to convert to long-term NNN leases at market rates. The location benefits from high traffic counts on W 49th Street (approx. 11,800 vehicles/day) and S Louise Avenue (approx. 23,300 vehicles/day), and enjoys excellent visibility due to its hard corner location and a billboard. The land itself is valued at $35 per square foot, totaling 127,995 square feet. The permitted zoning is retail, offering further flexibility for future development. Nearby prominent businesses include the Empire Mall, Hy-Vee, and Target. This property presents a compelling combination of immediate income and significant long-term redevelopment potential in a thriving Sioux Falls location. The property is zoned for retail use. The total frontage is 716 feet.

Location Insight

City

Sioux Falls

County

Minnehaha

State

South Dakota

Longitude

-96.7717

Latitude

43.5071

CBSA code

43620

CBSA name

SIOUX FALLS, SD METROPOLITAN STATISTICAL AREA

Property Tax & Assessments