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    Property profile & analytics

    401 Phillips Ave Sioux Falls, SD 57104-5911

    • Investment properties
    • 37,400 SF
    • 0.30 lot acres
    OFF-MARKET
    Value Estimation
    $3,875,000
    Last Sale
    Dec 19, 2022
    $3,575,000
    Location Intelligence
    Property ID
    US79-0041558
    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.

    Current Use by Public Records

    • DJ Mccullough Art Gallery / Artist / Art Gallery

    Property Details for 401 Phillips Ave

    Year built
    1902
    Construction
    TYPE NOT SPECIFIED
    Lot size
    0.30 lot acres
    Property size
    37,400 SF
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    27655
    APU
    27655

    Description

    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.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $4,020,000

    • CAP approach

      CAP return
      Estimation
      6%
      $3,730,000
      6.5%
      $3,235,000
      7%
      $3,800,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $3,950,000
      Geo Method
      $4,105,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $3,195,000
      Retail
      $3,750,000
      Mixed-Use
      $2,815,000
      Hospitality
      $3,710,000
      Educational
      $3,210,000
      Residential Income
      $3,560,000
      Energy
      $3,765,000
      Income-Based Land
      $3,270,000
      Food Service
      $3,855,000

    Location Insight

    • Map
    • Local Demand
    City
    Sioux Falls
    County
    Minnehaha
    State
    South Dakota
    Longitude
    -96.7273
    Latitude
    43.5515
    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
    $36,771
    $184,800
    $1,833,800
    $2,018,600
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      58,044 SF

      101 Main Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 58,044 SF
      101 Main Ave, Sioux Falls, SD 57104-6427
      View Details
    • Value Estimation by Request
      66,792 SF

      400 Main Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 66,792 SF
      400 Main Ave, Sioux Falls, SD 57104-5914
      View Details
    • Value Estimation by Request
      11,972 SF

      323 Phillips Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 11,972 SF
      323 Phillips Ave, Sioux Falls, SD 57104-6318
      View Details
    • Value Estimation
      $355,000
      6,424 SF

      210 Main Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 6,424 SF
      210 Main Ave, Sioux Falls, SD 57104-6310
      View Details
    • Value Estimation
      $345,000
      6,067 SF

      218 Phillips Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 6,067 SF
      218 Phillips Ave, Sioux Falls, SD 57104-6320
      View Details
    • Value Estimation
      $355,000
      7,634 SF

      207 Phillips Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 7,634 SF
      207 Phillips Ave, Sioux Falls, SD 57104-6317
      View Details

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    401 Phillips Ave
    Sioux Falls, SD 57104-5911
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    Realmo Value Estimation

    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.

    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.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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