For Sale
$875,000

302 Jones St Sioux City, IA 51101

Class A Office, 7.5% Cap Rate, 5,069 SF

Overview

Added:
Dec 11, 2024
Days on market:
132
This exceptional Class A office condo, located at 302 Jones St Ste 210 in Sioux City, IA, presents a compelling investment opportunity. The 5,069 square foot space boasts a 7.5% cap rate and is currently 100% occupied under a triple net (NNN) lease by a corporate tenant who recently extended their lease for five years. The building, constructed in 1906 and extensively renovated in 2011, is situated in the vibrant Historic 4th Street Entertainment District, adjacent to the Sioux City Convention Center, Marriott Courtyard, and a movie theater. This second-floor unit features a stunning open staircase crafted from 117-year-old Douglas fir timbers, a testament to the building's rich history. The sale includes five underground parking spaces, with the option to purchase additional spaces. The property sits on a 0.3-acre lot and is zoned DC. Detailed financial information is available upon request with a signed NDA. The APN is 894728460210. This is a rare opportunity to acquire a high-quality, income-producing asset in a prime downtown location. The asking price is $875,000, translating to $172.62 per square foot.

Highlights

  • $875,000 asking price for this Class A office condo.
  • 5,069 square feet with a price per square foot of $172.62.
  • 7.50% cap rate with 100% occupancy.
  • NNN lease, corporately leased to Robert W. Baird & Co. with a recent five-year lease extension.
  • Located at 302 Jones St Ste 210, Sioux City, IA 51101, in the Historic 4th Street Entertainment District.
  • Built in 1906 and renovated in 2011. Includes 5 underground parking spaces.

Property Details for 302 Jones St

Property type
Office properties
Square Feet
5,069 SF
Class
A
Year Built/Renovated
1906/2011
Lot Size (sq. ft)
13,068 SF

Location Insight

City
Sioux City
County
Woodbury
State
Iowa
Latitude
42.4934437
Longitude
-96.3997588

FAQs

What type of property is this?
Office property - Class A Office, 7.5% Cap Rate, 5,069 SF
Where is the office property located?
The property is located at 302 Jones St Sioux City, IA.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: $875,000 asking price for this Class A office condo.; 5,069 square feet with a price per square foot of $172.62.; 7.50% cap rate with 100% occupancy.
How can I contact the broker?
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302 Jones St
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