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Property profile & analytics
OFF-MARKET
Estimated value
$2,710,000
Investment properties
400 Main Ave Sioux Falls, SD 57104-5914
Entity Owned
14-yr Hold
Free & Clear
Property ID
US79-0059381
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1908
Construction
TYPE NOT SPECIFIED
Total area
66,792 SF
Lot
0.76 ac (33,001 SF)
Zoning code
C3;GENERAL COMMERCIAL
APN
27654
UPID
US79-0059381
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
-
Pixelbox Film Production Television Studio
-
Keller Law Office Law Firm
-
Christenson Robert A Law Firm
-
Gourleys Properties Apartment Building
-
Gourley Building Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.71M
Owner & transaction history
Gourley Building, LLC. · 14 yrs held
Gourley Building, LLC.
since 2012
3 recorded transactions
Zoning & alternative use
C3;GENERAL COMMERCIAL · Sioux Falls, SD
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$4.2M
+29.7%
Auto repair, garage
$4.2M
+28.3%
Office building
$3.6M
+10.8%
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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$3,245,000
Current use
MEDICAL BUILDING
$4,210,000
Change: +30% · Conversion: Easy
AUTO REPAIR, GARAGE
$4,165,000
Change: +28% · Conversion: Difficult
OFFICE BUILDING
$3,600,000
Change: +11% · Conversion: Easy
WAREHOUSE, STORAGE
$2,930,000
Change: -10% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$2,600,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$2.71M
Range $2.44M – $2.98M · ±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
$41 / 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
$69,443
Tax year 2022
Assessed value
$4,831,100
Assessed 2022
Previous assessed
$2,273,600
+112.5% YoY
Effective rate
1.44%
On assessed value
Assessed land
$429,000
Assessed improvement
$4,402,100
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1908
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
NONE
Buildings
2
Stories
3
Total area
66,792 SF
Lot
0.76 ac (33,001 SF)
Zoning code
C3;GENERAL COMMERCIAL
APN
27654
UPID
US79-0059381
Jurisdiction
MINNEHAHA
Zoning & alternative use
C3;GENERAL COMMERCIAL · Sioux Falls, SD
Zoning C3;GENERAL COMMERCIAL · permitted uses
C3;GENERAL COMMERCIAL · 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
COMMERCIAL (GENERAL) Current
Est. value
$3.2M
MEDICAL BUILDING
Est. value
$4.2M
AUTO REPAIR, GARAGE
Est. value
$4.2M
OFFICE BUILDING
Est. value
$3.6M
WAREHOUSE, STORAGE
Est. value
$2.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.6M
COMMERCIAL (GENERAL) Current
MEDICAL BUILDING
AUTO REPAIR, GARAGE
OFFICE BUILDING
WAREHOUSE, STORAGE
NEIGHBORHOOD: SHOPPING CENTER
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
1908
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
3
Buildings
2
Lot
0.76 ac
Current owner
From public records · entity-resolved
Gourley Building, LLC.
Entity
Free & Clear · 14 yrs held
Mailing address
400 N MAIN AVE, SIOUX FALLS, SD 57104-5914
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 12, 2021
—
Gourley Building LLC
—
Deed
related
$2,252,000 · Frontier Bank
Jun 22, 2020
—
Gourley Building LLC
—
Deed
related
$100,000 · Frontier Bank
Jan 12, 2012
—
Gourley Building, LLC.
Richard W Gourley
Quit Claim Deed
related
—
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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