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Property profile & analytics
FOR LEASE
Investment properties
600 S Main Ave Sioux Falls, SD 57104
Entity Owned
5-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US79-0035235
For Lease
1 / 2
$20 SF/Yr
600 S Main Ave, Sioux Falls, SD 57104
View Listing →
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1915
Construction
TYPE NOT SPECIFIED
Total area
49,536 SF
Lot
0.58 ac (25,321 SF)
APN
27668
UPID
US79-0035235
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · 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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.99M
Owner & transaction history
Fdt Parters LLP · 5 yrs held
Fdt Parters LLP
since 2021
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$3.1M
+29.7%
Auto repair, garage
$3.1M
+28.3%
Office building
$2.7M
+10.8%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Sioux Falls submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Sioux Falls submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
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
Blend value · Realmo final
$1.99M
Range $1.79M – $2.19M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$40 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$56,121
Tax year 2022
Assessed value
$3,075,300
Assessed 2022
Previous assessed
$3,159,800
-2.7% YoY
Effective rate
1.82%
On assessed value
Assessed land
$202,600
Assessed improvement
$2,872,700
Applied tax rate
90,495.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
For Lease
Year built
1915
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
CENTRAL
Stories
3
Rooms
20
Total area
49,536 SF
Lot
0.58 ac (25,321 SF)
APN
27668
UPID
US79-0035235
Jurisdiction
MINNEHAHA
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$2.4M
MEDICAL BUILDING
Est. value
$3.1M
AUTO REPAIR, GARAGE
Est. value
$3.1M
OFFICE BUILDING
Est. value
$2.7M
WAREHOUSE, STORAGE
Est. value
$2.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.9M
COMMERCIAL (GENERAL) Current
MEDICAL BUILDING
AUTO REPAIR, GARAGE
OFFICE BUILDING
WAREHOUSE, STORAGE
NEIGHBORHOOD: SHOPPING CENTER
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1915
Construction
TYPE NOT SPECIFIED
Heating
YES
Cooling
Yes
Stories
3
Rooms
20
Lot
0.58 ac
Current owner
From public records · entity-resolved
Fdt Parters LLP
Entity
Mailing address
101 S REID ST STE #201, SIOUX FALLS, SD 57103-7062
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 4, 2021
—
Fdt Parters LLP
—
Deed
related
$747,000 · Great Western Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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