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

    6217 Western Ave Sioux Falls, SD 57108-3403

    • Commercial real estate
    • 2.00 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US79-0406877
    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

    • Cuz I Can Tattoos / Tattoo & Piercing Shop
    • Creative Beauty by Kellisha / Hair Salon / Nail Salon
    • Bryant Salon & Spa / Hair Salon / Nail Salon
    • K.H. Beauty / Hair Salon / Nail Salon

    Property Details for 6217 Western Ave

    Lot size
    2.00 lot acres
    Zone code
    MUNICIPALITY
    Property type
    Commercial real estate
    APN
    280.17.00.10A
    APU
    280170010A

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Sioux Falls
    County
    Lincoln
    State
    South Dakota
    Longitude
    -96.748
    Latitude
    43.4881
    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
    2023
    $41,368
    $610,960
    $1,778,697
    $2,389,657
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      400 SF

      7201 Minnesota Ave

      Mixed-use properties • 400 SF
      7201 Minnesota Ave, Sioux Falls, SD 57108
      View Details
    • Value Estimation
      $715,000
      4.26 Acres

      Sioux Falls, SD 57108

      COMMERCIAL (GENERAL) • 4.26 Acres
      Sioux Falls, SD 57108
      View Details
    • Value Estimation by Request
      1.61 Acres

      2301 Trevi Pl

      COMMERCIAL (GENERAL) • 1.61 Acres
      2301 Trevi Pl, Sioux Falls, SD 57108
      View Details
    • Value Estimation by Request
      0.02 Acres

      Sioux Falls, SD 57108

      COMMERCIAL (GENERAL) • 0.02 Acres
      Sioux Falls, SD 57108
      View Details
    • Value Estimation
      $515,000
      1.28 Acres

      1201 Clf Pl

      COMMERCIAL (GENERAL) • 1.28 Acres
      1201 Clf Pl, Sioux Falls, SD 57108-8753
      View Details
    • Value Estimation by Request
      0.08 Acres

      Sioux Falls, SD 57108

      COMMERCIAL (GENERAL) • 0.08 Acres
      Sioux Falls, SD 57108
      View Details

    Similar Nearby for Sale

    • $1,470,150
      2.25 Acres

      Prime Sioux Falls C-Store Site

      2.25-acre commercial lot, ideal location.
      3200 Bison Trl, Sioux Falls, SD 57108
      View Details
    • $2,162,318
      12.41 Acres

      Hensch Land: Prime Sioux Falls Tract

      12 Acres, Mixed-Use Potential, A-1 Zoning
      272nd 472Nd Ave, Sioux Falls, SD 57108
      View Details
    • $848,692

      Levo Square: Prime Commercial Land

      44,668 SF C-2 Zoned Lot in Sioux Falls
      6101 Cliff Ave, Sioux Falls, SD 57108
      View Details
    • $433,026
      0.55 Acres

      Sioux Falls Commercial Land Parcel

      Prime 0.55-acre office site, ready to build.
      7921 Cinnamon Ridge Pl, Sioux Falls, SD 57108
      View Details
    • Contact for pricing
      400 SF

      81 Gardens: Sioux Falls Land

      Prime Sioux Falls commercial land, various sizes.
      7201 Minnesota Ave, Sioux Falls, SD 57108
      View Details
    • Contact for pricing
      3.81 Acres

      Prime Sioux Falls Commercial Land

      3.81 Acres, Live/Work Zoning, High Traffic
      0 57Th St, Sioux Falls, SD 57108
      View Details

    Similar Nearby for Lease

    • $24 SF/Yr
      2,338 SF

      West 57th St. Premier Space

      High-traffic retail/office opportunity
      4209 57Th St, Sioux Falls, SD 57108
      View Details
    • $32 SF/Yr
      2,000 SF

      Prime Sioux Falls Retail End Cap

      2,000 SF Restaurant Space Available
      7204 Lyncrest Ave, Sioux Falls, SD 57108
      View Details
    • $32 SF/Yr
      10,011 SF

      81st & Minnesota Retail Space

      Prime Retail Space - Walmart Corridor
      7201 Minnesota Ave, Sioux Falls, SD 57108
      View Details
    • $20 SF/Yr

      High-Quality Office Space Available

      Office space with abundant parking and excellent internet service.
      5100 S Broadband Ln, Sioux Falls, SD 57108
      View Details
    • $18 SF/Yr
      3,082 SF

      Sioux Falls Office Space Available

      Office space for rent with parking and tenant improvements.
      106 W 69Th St, Sioux Falls, SD 57108
      View Details
    • $1,350,000
      4,974 SF

      Office Space Near Harmodon Park

      Office space with private offices, parking, and monument signage.
      5048 E 57Th St, Sioux Falls, SD 57108
      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.
    6217 Western Ave
    Sioux Falls, SD 57108-3403
    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.