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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    4545 Homefield Dr Sioux Falls, SD 57106-3504

    • Hotels
    • 39,317 SF
    • 1.94 lot acres
    OFF-MARKET
    Value Estimations
    $3,000,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US79-0050010
    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

    • TownePlace Suites Sioux Falls / Hotel / Extended Stay Hotel
    • 4545 W. Homefield Dr. Parking / Parking Lot
    • Tesla Destination Charger / Electric Vehicle Charging Station

    Property Details for 4545 Homefield Dr

    Year built
    1997
    Construction
    FRAME
    Lot size
    1.94 lot acres
    Property size
    39,317 SF
    Property type
    Hotels
    APN
    65518
    APU
    65518

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,675,000
      6.5%
      $3,395,000
      7%
      $3,150,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,604,000
      Market price range: $678k - $4.06M

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $2,340,000
      Current use
      COMMERCIAL (GENERAL)
      $3,840,000
      Change: +64% Conversion: Difficult
      OFFICE BUILDING
      $3,310,000
      Change: +41% Conversion: Difficult
      RESTAURANT
      $3,135,000
      Change: +34% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $3,025,000
      Change: +29% Conversion: Difficult
      MEDICAL BUILDING
      $2,480,000
      Change: +6% Conversion: Difficult
      RETAIL STORES
      $2,070,000
      Change: -12% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Sioux Falls
    County
    Minnehaha
    State
    South Dakota
    Longitude
    -96.7835
    Latitude
    43.5286
    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
    $64,840
    $929,900
    $2,694,400
    $3,624,300
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $2,250,000
      29,356 SF

      3005 Carolyn Ave

      HOTEL • 29,356 SF
      3005 Carolyn Ave, Sioux Falls, SD 57106-0730
      View Details
    • Value Estimation
      $2,425,000
      44,980 SF

      1109 Lyons Ave

      HOTEL • 44,980 SF
      1109 Lyons Ave, Sioux Falls, SD 57106-3983
      View Details
    • Value Estimation
      $4,665,000
      33,125 SF

      3208 Carolyn Ave

      HOTEL • 33,125 SF
      3208 Carolyn Ave, Sioux Falls, SD 57106-0727
      View Details
    • Value Estimation
      $6,235,000
      42,553 SF

      4509 Empire Pl

      HOTEL • 42,553 SF
      4509 Empire Pl, Sioux Falls, SD 57106-6506
      View Details
    • Value Estimation
      $5,050,000
      54,098 SF

      4304 Empire Pl

      HOTEL • 54,098 SF
      4304 Empire Pl, Sioux Falls, SD 57106-6525
      View Details
    • Value Estimation
      $2,070,000
      36,025 SF

      3200 Mdw Ave

      HOTEL • 36,025 SF
      3200 Mdw Ave, Sioux Falls, SD 57106-0940
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2.64 Acres

      Kinect Shoreline: Retail Spaces Available

      Prime Shoreline retail, high foot traffic.
      2750 Lorraine Pl, Sioux Falls, SD 57106
      View Details
    • $424,710
      32,670 SF

      Corner Lot in Dawley Office

      Commercial land in a growing mixed-use development.
      5102 E 26Th St, Sioux Falls, SD 57106
      View Details
    • $614,960

      Commercial Land in Growing Area

      Commercial land near business center, airport, and technical institute.
      4001 34Th St, Sioux Falls, SD 57106
      View Details
    • $990,000
      4,476 SF

      Remodeled Office Space For Sale

      Remodeled office space near 49th Street and Louise Avenue.
      4105 S Carnegie Pl, Sioux Falls, SD 57106
      View Details
    • $900,000

      Development Land Near 12th Street

      Development land with frontage on West 12th Street.
      7400 W 15Th St, Sioux Falls, SD 57106
      View Details
    • $1,600,000

      2.20 Acres Light Industrial Land

      Corner lot near I-29 and future Bakker Landing Development.
      27097 S Sundowner Ave, Sioux Falls, SD 57106
      View Details

    Similar Nearby for Lease

    • $16 SF/Yr
      18,017 SF

      Westridge Mall Retail Space Available

      Prime Sioux Falls Shopping Center, Multiple Units
      8505 26Th St, Sioux Falls, SD 57106
      View Details
    • $550 /Mo
      7,424 SF

      Versatile Office Space Available Now

      Office space for lease with ample parking and shared restrooms.
      3710 S Westport Ave, Sioux Falls, SD 57106
      View Details
    • $2,255 /Mo

      Renovated Office Suite For Lease

      Recently renovated office suite with private restroom and entrance.
      3600 South Westport Ave Suite, Sioux Falls, SD 57106
      View Details
    • $16 SF/Yr
      18,017 SF

      Retail/Office Space with Incentive

      Shell space available for lease with tenant allowance.
      8505 W 26Th St, Sioux Falls, SD 57106
      View Details
    • $22 SF/Yr

      Highly Visible Retail Location Available

      Retail spaces with flexible size options and excellent access.
      2524-2530 S Louise Ave, Sioux Falls, SD 57106
      View Details
    • Contact for pricing
      22,800 SF

      Westown Marketplace: Office/Retail Space

      Prime Sioux Falls Coworking Space
      8000 41St St, Sioux Falls, SD 57106
      View Details

    Property Visit Statistics

    • Visits by month
      5.4k
    • Visitors by month
      1.3k
    • Avg Time on site
      364 min
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    4545 Homefield Dr
    Sioux Falls, SD 57106-3504
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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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