1720 10Th StSioux Falls, SD 57103

Property Details for 1720 10Th St

Year built

2022

Lot size

0.56 AC

Property size (Sq ft)

1,103 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional investment opportunity presents a 1,103 square foot, single-tenant, absolute triple-net (NNN) leased property located at 1720 E 10th St, Sioux Falls, SD 57103. The property, built in 2022, is a Take 5 Oil Change franchise, benefiting from a new 15-year lease with 10% rent increases every five years. The current annual net operating income (NOI) is $108,000, yielding a 6.75% cap rate at the asking price of $1,600,000. The lease includes three, five-year renewal options, providing long-term stability and predictable income growth. The property sits on a 0.56-acre lot with four parking spaces and enjoys excellent visibility and access from 10th Street (over 20,500 vehicles per day) and proximity to I-229 (31,840 vehicles per day). The location benefits from strong demographics, including a population within a 3-mile radius of 90,430 residents with an average household income exceeding $89,700. Furthermore, the area is experiencing significant growth, with a projected annual population increase of 1.34% within a 1-mile radius over the next five years. The property's proximity to the University of Sioux Falls, Sanford USD Medical Center, and major retail centers further enhances its appeal. This is a rare opportunity to acquire a high-performing, low-maintenance asset in a rapidly growing market with a strong, nationally recognized tenant. The property is 100% occupied.

Location Insight

City

Sioux Falls

County

Minnehaha

State

South Dakota

Latitude

43.5471

Longitude

-96.7041

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