401 N Phillips Ave Sioux Falls, SD 57104
For Lease
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This exceptional 15,000 square foot mixed-use building, originally constructed in 1903 using native Sioux Quartzite, presents a rare redevelopment opportunity in the heart of Sioux Falls, South Dakota. Located at 401 N. Phillips Ave, this property boasts a rich history as a four-story grocery warehouse. Currently undergoing renovation, the main floor offers 7,500 square feet of adaptable office space, perfect for executive, traditional, or creative office uses. The building's prime location places it at the center of Sioux Falls' revitalized 6th Street district, near significant landmarks such as the $21 million Unity Bridge, Cherapa Place, Steel District, Levitt Bandshell, Startup Sioux Falls, Jones 421, Jacobson Plaza, and Falls Park. This is one of the last remaining redevelopment opportunities on Phillips Avenue, offering businesses a chance to be part of a thriving, dynamic urban environment. The building is situated in Minnehaha County, South Dakota, and features multiple tenancy options. This is an unparalleled chance to establish a presence in a rapidly growing and highly desirable area.
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Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2022Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.