208 37Th StSioux Falls, SD 57105

  • Medical offices
  • 6,092 SF
For Sale
$1,400,000 View listing

Property Details for 208 37Th St

Year built
1993
Construction
FRAME
Lot size
0.58 AC
Property size (Sq ft)
6,092 SF
Property type
Medical offices
Property subtype
Medical space
APN
51475
APU
51475

Description

This exceptional 6,092 square foot medical office building, situated at 208 W 37th St in Sioux Falls, South Dakota, presents a unique investment opportunity. Built in 1993 and boasting a spacious 25,320 square foot lot, the property features a well-designed layout ideal for a variety of medical or traditional office uses. The main level encompasses 4,743 square feet, including a reception/waiting area, eleven exam rooms, two private offices, an X-ray room, work areas, and a breakroom. The lower level, spanning 1,349 square feet, offers a locker room, restroom with shower, meeting room, laundry facilities, and ample storage. A significant advantage is the new parking lot completed in 2023, providing 28 parking spaces—a ratio of one space per 218 square feet. The roof was also replaced in 2014. The existing general casework and exam room furniture is negotiable. The property's convenient location, just two blocks from Minnesota Avenue, places it near several established businesses including HyVee, Hardee's, Culver's, and Lewis Drug. The asking price is $1,400,000. The seller is open to a sale-leaseback arrangement. Please note that the property may be subject to deed restrictions and is projected to be available in the fourth quarter of 2025. Further details regarding the sale-leaseback option and deed restrictions are available upon request.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $940,881
    6.5%
    $868,506
    7%
    $806,470
  • Comparable approach

    Method
    Valuation
    Relative Method
    $310,936
    Geo Method
    $310,936
  • Alternative Use

    Use
    Valuation
    Residential
    $1,076,947
    Hospitality
    $986,478
    Educational
    $820,738
    Medical
    $848,964
    Retail
    $1,276,704

Location Insight

City
Sioux Falls
County
Minnehaha
State
South Dakota
Latitude
43.5189
Longitude
-96.7284
CBSA code
43620
CBSA name
SIOUX FALLS, SD METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2022
$13,859
$164,600
$567,400
$732,000
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