Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Property profile & analytics

    406 2nd Ave Sioux Falls, SD 57104-6921

    • Office buildings
    • 17,936 SF
    • 0.54 lot acres
    OFF-MARKET
    Value Estimation
    $685,000
    Last Sale
    Sep 08, 2020
    $600,000
    Location Intelligence
    Property ID
    US79-0070788
    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

    • Pro Engineering / Mechanical Engineer / Engineer
    • A to Z World Languages. Inc / Translation Service / Notary Public
    • Tk barbershop / Barber Shop

    Property Details for 406 2nd Ave

    Year built
    1960
    Construction
    TYPE NOT SPECIFIED
    Lot size
    0.54 lot acres
    Property size
    17,936 SF
    Property type
    Office buildings
    APN
    32312
    APU
    32312

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $675,000

    • CAP approach

      CAP return
      Estimation
      6%
      $725,000
      6.5%
      $665,000
      7%
      $655,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $590,000
      Geo Method
      $770,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $635,000
      Retail
      $630,000
      Mixed-Use
      $640,000
      Hospitality
      $680,000
      Educational
      $565,000
      Residential Income
      $540,000
      Energy
      $590,000
      Income-Based Land
      $530,000
      Food Service
      $540,000

    Location Insight

    • Map
    • Local Demand
    City
    Sioux Falls
    County
    Minnehaha
    State
    South Dakota
    Longitude
    -96.7233
    Latitude
    43.543
    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
    $13,671
    $284,400
    $851,200
    $1,135,600
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      2,464 SF

      4404 Hillcrest Ave

      OFFICE BUILDING • 2,464 SF
      4404 Hillcrest Ave, Sioux Falls, SD 57104
      View Details
    • Value Estimation by Request
      33,416 SF

      4615 Lewis Ave

      OFFICE BUILDING • 33,416 SF
      4615 Lewis Ave, Sioux Falls, SD 57104-7116
      View Details
    • Value Estimation by Request
      32,824 SF

      314 Main Ave

      OFFICE BUILDING • 32,824 SF
      314 Main Ave, Sioux Falls, SD 57104-6463
      View Details
    • Value Estimation by Request
      15,264 SF

      224 Phillips Ave

      OFFICE BUILDING • 15,264 SF
      224 Phillips Ave, Sioux Falls, SD 57104-6063
      View Details
    • Value Estimation by Request
      14,752 SF

      1209 Russell St

      OFFICE BUILDING • 14,752 SF
      1209 Russell St, Sioux Falls, SD 57104
      View Details
    • Value Estimation by Request
      87,281 SF

      110 Minnesota Ave

      OFFICE BUILDING • 87,281 SF
      110 Minnesota Ave, Sioux Falls, SD 57104-6440
      View Details

    Similar Nearby for Sale

    • $7,999,000
      111,104 SF

      Spacious Office Building in Sioux Falls

      Large office building with open workspace and private offices.
      4811 N 4Th Ave, Sioux Falls, SD 57104
      View Details
    • $4,499,000
      63,775 SF

      Sioux Falls Office Building

      Large office building with open workspace and private offices.
      301 E 58Th St, Sioux Falls, SD 57104
      View Details
    • $1,450,000
      10,280 SF

      Former Daycare with Parking

      Adaptable building near Terrace Park and local schools.
      711 N Lake Ave, Sioux Falls, SD 57104
      View Details
    • $2,230,000
      20,141 SF

      Well-Maintained Building on Russell Street

      High-quality building with visibility on Russell Street, Sioux Falls.
      621 W Russell St, Sioux Falls, SD 57104
      View Details
    • $2,450,000
      6,800 SF

      Sioux Falls Office Building

      Updated office building with heated parking garage and surface parking.
      112 S Dakota Ave, Sioux Falls, SD 57104
      View Details
    • $995,000
      16,248 SF

      Sioux Falls Office Building

      Office building with convenient access to I-229 and I-90.
      1600 E Benson Rd, Sioux Falls, SD 57104
      View Details

    Similar Nearby for Lease

    • $15 SF/Yr
      13,413 SF

      Rock Island Building: Prime Office Space

      Downtown Sioux Falls office building, multiple suites available.
      300 Phillips Ave, Sioux Falls, SD 57104
      View Details
    • $8 SF/Yr
      85,194 SF

      Downtown Sioux Falls Office Space

      Prime Office Space, Flexible Layouts, Downtown Sioux Falls
      101 Phillips Ave, Sioux Falls, SD 57104
      View Details
    • $550 /Mo
      422 SF

      Sioux Falls Private Window Office

      Private office suite with modern amenities and ample parking.
      516 N Garfield Cir, Sioux Falls, SD 57104
      View Details
    • $15 SF/Yr
      1,313 SF

      Downtown Sioux Falls Office Space

      Renovated office space with downtown and river views.
      140 N Phillips Ave, Sioux Falls, SD 57104
      View Details
    • $20 SF/Yr
      1,215 SF

      Renovated Office Space For Rent

      Second-floor office space with open layout and renovated common areas.
      221-307 E 11Th St, Sioux Falls, SD 57104
      View Details
    • Contact for pricing
      44,704 SF

      Sioux Falls Flex/Office Space

      Subdividable 33,180 SF flex/office space for lease.
      2500 E 52Nd St N, Sioux Falls, SD 57104
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    406 2nd Ave
    Sioux Falls, SD 57104-6921
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.