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

    6701 41St St Sioux Falls, SD 57106

    • Strip malls
    • 10,655 SF
    • 1.45 lot acres
    For Lease
    View listing
    $15 SF/Yr
    Value Estimations
    $420,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US79-0072311
    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

    • First PREMIER Bank / Bank / Atm

    Property Details for 6701 41St St

    Year built
    1999
    Construction
    FRAME
    Lot size
    1.45 lot acres
    Property size
    10,655 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    62493
    APU
    62493

    Description

    This exceptional commercial property, Sertoma Plaza, offers a 3,579 square foot vacant space ideal for a variety of office uses. Located at 6701 W 41st St, Sioux Falls, SD 57106, in Minnehaha County, this multi-tenant building boasts a highly desirable location with excellent visibility. The property features ample on-site parking, ensuring convenient access for employees and clients. Benefit from a strategic position along 41st Street, experiencing a substantial daily traffic count of 17,200 vehicles, guaranteeing high exposure for your business. This presents a unique opportunity to establish a strong presence in a thriving commercial area. The surrounding area is home to a diverse range of established businesses, including Get N' Go, Taco John's, Walgreens, First Premier Bank, Ace Hardware, Dollar General, Great Life, Year Round Brown, Gilberto's Mexican, Flyboy Donuts, and Roosevelt High School, creating a vibrant and convenient environment. One available space totals 2,340 square feet. The property is classified as Retail and Office, with a Traditional Office subtype. This is a multi-tenant building. Serious inquiries are encouraged to explore this outstanding opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $465,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $377,000
      Market price range: $242k - $487k

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $340,000
      Current use
      MEDICAL BUILDING
      $670,000
      Change: +98% Conversion: Difficult
      RETAIL STORES
      $560,000
      Change: +66% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Sioux Falls
    County
    Minnehaha
    State
    South Dakota
    Longitude
    -96.8093
    Latitude
    43.5143
    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
    $30,069
    $394,900
    $1,187,000
    $1,581,900
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $415,000
      9,106 SF

      2508 Carolyn Ave

      SHOPPING CENTER, STRIP CENTER • 9,106 SF
      2508 Carolyn Ave, Sioux Falls, SD 57106-4303
      View Details
    • Value Estimation
      $690,000
      22,920 SF

      1800 Marion Rd

      SHOPPING CENTER, STRIP CENTER • 22,920 SF
      1800 Marion Rd, Sioux Falls, SD 57106
      View Details
    • Value Estimation
      $570,000
      19,553 SF

      3709 41st St

      SHOPPING CENTER, STRIP CENTER • 19,553 SF
      3709 41st St, Sioux Falls, SD 57106-0797
      View Details
    • Value Estimation
      $540,000
      13,440 SF

      6800 41st St

      SHOPPING CENTER, STRIP CENTER • 13,440 SF
      6800 41st St, Sioux Falls, SD 57106
      View Details
    • Value Estimation
      $560,000
      20,636 SF

      5200 26th St

      SHOPPING CENTER, STRIP CENTER • 20,636 SF
      5200 26th St, Sioux Falls, SD 57106
      View Details
    • Value Estimation
      $250,000
      7,920 SF

      915 Marion Rd

      SHOPPING CENTER, STRIP CENTER • 7,920 SF
      915 Marion Rd, Sioux Falls, SD 57106-0238
      View Details

    Similar Nearby for Sale

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    Similar Nearby for Lease

    • $18 SF/Yr
      2,817 SF

      Prime Retail Complex Available Now

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    • $15 SF/Yr
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      Sertoma Plaza Office Space Available

      Prime Sioux Falls Office Space, High Visibility
      6701 41St St, Sioux Falls, SD 57106
      View Details
    • $16 SF/Yr
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      Empire Place Retail Center

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      Lake Lorraine Retail Space For Lease

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    • $18 SF/Yr

      Restaurant Building on Large Lot

      10,765 SF restaurant on 2.23 acres for lease.
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      View Details
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    6701 41St St
    Sioux Falls, SD 57106
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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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