1025 Highline PlSioux Falls, SD 57110

Property Details for 1025 Highline Pl

Year built

2012

Construction

TYPE NOT SPECIFIED

Lot size

3.29 AC

Property size (Sq ft)

14,523 SF

Property type

Strip malls

Property subtype

Neighborhood centers

APN

83765

APU

83765

Description

This exceptional Class A retail investment property, located at 1025 S Highline Pl, Sioux Falls, SD 57110, presents a compelling opportunity. The 14,523 square foot, single-building center boasts 13,982 square feet of net rentable space and is currently 100% occupied by five diverse tenants: Subway, Gent's Grooming, GNC, Verizon, and Community Blood Bank. This stabilized investment offers a pro-forma cap rate of 6.76% and a pro-forma NOI of $344,969. Built in 2012, the property sits on a 3.29-acre lot and benefits from a NNN lease structure. The property is situated within the thriving Dawley Farm Village shopping center, the #4 shopping center in South Dakota, shadow-anchored by Target and other regional power centers, attracting over 7.3 million visits annually. This prime location enjoys excellent visibility and accessibility via Veterans Parkway, a major thoroughfare connecting I-29 and I-90. The surrounding area demonstrates strong demographics, with a 3-mile radius population of 61,975 and an average household income of $82,000. Further growth is anticipated with over 750 new housing units under construction and plans for over 1,600 acres of additional residential development. 2023 property taxes payable in 2024 are $47,928.06. The property is zoned C-4 Commercial. This is a rare opportunity to acquire a high-performing retail asset in a rapidly expanding market. The asking price is $5,100,000.

• CAP approach

  CAP return

  Valuation

  6%

  $3,297,130

  6.5%

  $3,043,505

  7%

  $2,826,112

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,867,960

  Geo Method

  $1,867,960

• Alternative Use

  Use

  Valuation

  Residential

  $2,567,310

  Hospitality

  $2,351,642

  Educational

  $1,956,539

  Medical

  $2,023,827

  Retail

  $3,043,505

Location Insight

City

Sioux Falls

County

Minnehaha

State

South Dakota

Latitude

43.5385

Longitude

-96.6529

CBSA code

43620

CBSA name

SIOUX FALLS, SD METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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