500 56Th StSioux Falls, SD 57104

Property Details for 500 56Th St

Year built

1996

Lot size

14.09 AC

Property size (Sq ft)

122,293 SF

Property type

Office properties

Property subtype

Industrial properties

Description

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.

Location Insight

City

Sioux Falls

County

Minnehaha

State

South Dakota

Latitude

43.5985

Longitude

-96.7134

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