Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    600 S Main Ave Sioux Falls, SD 57104

    • Investment properties
    • 49,536 SF
    • 0.58 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US79-0035235
    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

    • The Gage Team / Marketing & Advertising
    • Riley Jennifer L / Law Firm
    • Hagen, Wilka & Archer, LLP / Law Firm
    • Mark A. Ekse / Law Firm
    • Larson Square Lofts / Apartment Complex

    Property Details for 600 S Main Ave

    Year built
    1915
    Construction
    TYPE NOT SPECIFIED
    Lot size
    0.58 lot acres
    Property size
    49,536 SF
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    27668
    APU
    27668

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $2,410,000
      Current use
      MEDICAL BUILDING
      $3,125,000
      Change: +30% Conversion: Easy
      AUTO REPAIR, GARAGE
      $3,090,000
      Change: +28% Conversion: Difficult
      OFFICE BUILDING
      $2,670,000
      Change: +11% Conversion: Easy
      WAREHOUSE, STORAGE
      $2,170,000
      Change: -10% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $1,930,000
      Change: -20% 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
    -96.7278
    Latitude
    43.554
    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
    $56,121
    $202,600
    $2,872,700
    $3,075,300
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      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
      $5,625,000
      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
      $2,710,000
      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
      $555,000
      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
      $1,900,000
      68,365 SF

      196 6th St

      OFFICE/RESIDENTIAL (MIXED USE) • 68,365 SF
      196 6th St, Sioux Falls, SD 57104-5937
      View Details
    • Value Estimation
      $1,860,000
      41,432 SF

      320 Phillips Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 41,432 SF
      320 Phillips Ave, Sioux Falls, SD 57104-6490
      View Details

    Similar Nearby for Sale

    • $995,000
      14,562 SF

      Prospect Plaza South: Executive Office

      Prime Sioux Falls Office Building - $995,000
      629 Minnesota Ave, Sioux Falls, SD 57104
      View Details
    • $950,000

      West 12th Street Retail Land

      High-traffic Sioux Falls retail lot. $950,000.
      2210 12Th St, Sioux Falls, SD 57104
      View Details
    • Contact for pricing

      Commercial Land Available For Sale

      3.73 AC commercial land for sale in Sioux Falls.
      409 E 60Th St N, Sioux Falls, SD 57104
      View Details
    • $566,196

      Commercial Land Ready to Build

      1.56 AC buildable area with utilities and street frontage.
      4000 E Wilcox St, Sioux Falls, SD 57104
      View Details
    • Contact for pricing
      5,856 SF

      Sioux Falls Flex Space Available

      Flex space with offices, warehouse, and training room.
      1609 W 1St St, Sioux Falls, SD 57104
      View Details

    Similar Nearby for Lease

    • $25 SF/Yr
      5,790 SF

      151 4 Pl

      Restaurants
      151 4 Pl, Sioux Falls, SD 57104
      View Details
    • Contact for pricing
      3,510 SF

      Heated Warehouse with Showroom

      Warehouse with showroom, offices, shared yard, and floor drains.
      800 E 50Th St N, Sioux Falls, SD 57104
      View Details
    • Contact for pricing
      2,366 SF

      Highly Visible Retail Showroom

      Retail space with showroom, offices, and signage opportunities.
      707-715 S Minnesota Ave, Sioux Falls, SD 57104
      View Details
    • $1,400 /Mo
      12,000 SF

      Sioux Falls Industrial Shop Spaces

      Industrial shop spaces with convenient access and secured property.
      2200-2260 E 34Th St N, Sioux Falls, SD 57104
      View Details
    • $6 SF/Yr
      10,290 SF

      Madison Business Center: Flex Space

      10,290 SF Flex/Warehouse in Sioux Falls
      601 Kiwanis Ave, Sioux Falls, SD 57104
      View Details
    • $13 SF/Yr
      124,626 SF

      Sioux Falls Flex Space - 124,626 SF

      Prime Sioux Falls industrial/flex space. Multiple suites available.
      701 60Th St, 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.
    600 S Main Ave
    Sioux Falls, SD 57104
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    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
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!