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Property profile & analytics
OFF-MARKET
Estimated value
$1,235,000
Strip malls
3800 Louise Ave, Sioux Falls, SD 57106-6346
Entity Owned
14-yr Hold
Free & Clear
Property ID
US79-0040416
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1980
Construction
TYPE NOT SPECIFIED
Total area
59,086 SF
Lot
5.11 ac (222,766 SF)
Zoning code
FP;FP
APN
40721
UPID
US79-0040416
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
-
Picassos Hair Salon Nail Salon
-
SEPHORA at Kohl's Cosmetic Store
-
Ashley Furniture & Home Goods Home Decor Store
-
Empire East Shopping Center & Mall
-
Amazon Return at Kohl's Department Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.08M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.39M
Blend (final)
Blend
$1.24M
Owner & transaction history
Empire East, LLC. · 14 yrs held
Empire East, LLC.
since 2012
6 recorded transactions
Zoning & alternative use
FP;FP · Sioux Falls, SD
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
by Request
ML approach
$1,080,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$1,875,000
Current use
Blend value · Realmo final
$1.24M
Range $1.11M – $1.36M · ±10%
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
$21 / 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
$109,776
Tax year 2022
Assessed value
$5,820,100
Assessed 2022
Previous assessed
$6,392,500
-9.0% YoY
Effective rate
1.89%
On assessed value
Assessed land
$1,559,400
Assessed improvement
$4,260,700
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
1980
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
OTHER
Stories
1
Total area
59,086 SF
Lot
5.11 ac (222,766 SF)
Zoning code
FP;FP
APN
40721
UPID
US79-0040416
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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$1.9M
NEIGHBORHOOD: SHOPPING CENTER Current
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
1980
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
1
Lot
5.11 ac
Current owner
From public records · entity-resolved
Empire East, LLC.
Entity
Free & Clear · 14 yrs held
Mailing address
180 E BROAD ST, COLUMBUS, OH 43215-3707
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 8, 2024
—
New Town Mall Partners LLC
—
Deed
related
$10,360,000 · American Bank & Trust Co
Aug 26, 2024
—
New Town Mall Partners LLC
—
Deed
related
$10,360,000 · American Bank & Trust Co
Nov 15, 2023
—
Empire East LLC
—
Deed
related
$100,500,000 · Goldman Sachs Bank USA A New York State-
Feb 24, 2022
—
Empire East LLC
—
Deed
related
$126,183,320 · Glas Americas LLC
Dec 21, 2020
—
Empire East LLC
—
Deed
related
$650,000,000 · Bank Of America NA
Feb 3, 2012
—
Empire East, LLC.
Sdg Macerich Properties, L.p.
Special Warranty Deed
—
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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