For Sale
$12,618,161

500 56Th StSioux Falls, SD 57104

122,293 SF, 100% Occupied, High Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
117
This exceptional investment opportunity presents a 122,293-square-foot, Class B executive office building in Sioux Falls, South Dakota. Located at 500 E 56th St, this fully occupied (100%) single-tenant property boasts a strong 13.92% cap rate and an asking price of $12,618,161 ($103.18/sq ft). Built in 1996, the two-story building sits on a 14.09-acre lot within a mature industrial park, offering convenient access to I-90 and I-29. The property features 644 parking spaces, two loading docks with two dock-high doors, and a 9-foot ceiling height. The building's infrastructure includes a condenser water system/heat pumps for HVAC, a tar and gravel roof, and a tilt-up concrete exterior. Internal features include a raised floor system (16"), a wet sprinkler system, and a 500 KVA Powerware 9315 UPS system covering critical systems. A 1375 KVA Caterpillar 3512 generator provides full building system backup power for 3.5 days at full load. The building also has a 2-megawatt electric capacity and 10,000 gallons of fuel storage in an underground storage tank within a cement vault. Currently configured as open plan/call center/office space, the property offers potential for adaptive reuse as a data center, industrial facility, or self-storage. The I-1 zoning permits a variety of uses. This is a rare opportunity to acquire a high-performing, well-located commercial property with significant upside potential.

Highlights

  • Open-plan/call center/office layout.
  • Suitable for data center, industrial, or self-storage use.
  • 28-year-old building.
  • 1:5 land-to-building ratio.
  • 100% occupancy.
  • 644 parking spaces.

Property Details for 500 56Th St

Property type
Office properties, Industrial properties
Square Feet
122,293 SF
Class
B
Year Built
1996
Stories
2
Lot Size (sq. ft)
613,760 SF

Location Insight

City
Sioux Falls
County
Minnehaha
State
South Dakota
Latitude
43.5984831
Longitude
-96.7134246
500 56Th St, Sioux Falls, South Dakota

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500 56Th St
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