1005 4Th StSioux City, IA 51101

Property Details for 1005 4Th St

Year built

1890

Lot size

0.77 AC

Property size (Sq ft)

70,000 SF

Property type

Office buildings

APN

894728408003

APU

894728408003

Description

The Historic Aalfs Building, a stunning five-story, 70,000 square foot creative office space in downtown Sioux City's vibrant Virginia Square District, offers unparalleled opportunities. Originally constructed in 1890 and extensively renovated in 2022, this iconic building boasts a prime location at the corner of 4th Street and Virginia Street. Currently, there are multiple suites available, with a minimum divisible space of 1,000 square feet and a maximum contiguous space of 8,850 square feet. The building's zoning is commercial, situated within Woodbury County. This exceptional property benefits from its proximity to the Promenade movie theater, a five-minute walk from the Hard Rock, one block from the upcoming riverfront redevelopment, and just a block off I-29. Ground floor space is available, and the owner is offering a "vanilla shell" plus a $25.00 per square foot tenant improvement allowance with a minimum five-year NNN lease. The building's impressive tenant roster includes Keller Williams Siouxland, Goodin Insurance, Avid Hotel, and Table 32, reflecting the area's strong commercial appeal. This location is ideal for retail businesses or professional services. Please note that expenses are estimated, and current property taxes are not yet fully assessed. The building is zoned for commercial use.

• CAP approach

  CAP return

  Valuation

  6%

  $10,810,239

  6.5%

  $9,978,683

  7%

  $9,265,920

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,572,800

  Geo Method

  $3,572,800

• Alternative Use

  Use

  Valuation

  Residential

  $12,373,566

  Hospitality

  $11,334,120

  Educational

  $9,429,855

  Medical

  $9,754,162

  Retail

  $14,668,663

Location Insight

City

Sioux City

County

Woodbury

State

Iowa

Latitude

42.4946

Longitude

-96.3974

CBSA code

43580

CBSA name

SIOUX CITY, IA-NE-SD METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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