200 Phillips AveSioux Falls, SD 57104

Property Details for 200 Phillips Ave

Year built

1991

Construction

STEEL FRAME

Lot size

0.84 AC

Property size (Sq ft)

47,448 SF

Zone code

FP;FP

Property type

Office buildings

APN

59804

APU

59804

Description

This 30,900 square foot office building, constructed in 1992, offers a variety of spaces suitable for diverse businesses. Currently, one 612 square foot suite is available for lease within this multi-tenant building. The Commerce Center boasts a convenient downtown Sioux Falls location at the intersection of East 8th Street and North Phillips Avenue, placing it near the iconic Arc of Dreams sculpture. Its strategic position also provides easy access to two significant developments: The Steel District and Cherapa Place. The building features one elevator for convenient access to all floors. A key advantage for tenants on the lower level is direct access to the parking lot. Furthermore, the building offers direct access to the Sioux Falls Bike Trail, a 19.13-mile recreational path. The Commerce Center is anchored by prominent organizations including the Greater Sioux Falls Area Chamber of Commerce, Sioux Falls Development Foundation, and Experience Sioux Falls, underscoring its strong location and reputation. The surrounding area is rich with amenities, including a variety of boutiques, restaurants, coffee shops, hotels, and various services. Cultural attractions such as The Orpheum, The Washington Pavilion, and Falls Park are also within easy reach, offering employees and clients a vibrant and engaging environment. This property is ideal for traditional office, executive office, coworking, medical office, or creative office uses, and is well-suited for consulting firms, law firms, insurance agencies, government offices, or other similar businesses. In Minnehaha County, this building presents a unique opportunity for businesses seeking a central and well-connected location.

• CAP approach

  CAP return

  Valuation

  6%

  $7,328,102

  6.5%

  $6,764,402

  7%

  $6,281,230

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,421,746

  Geo Method

  $2,421,746

• Alternative Use

  Use

  Valuation

  Residential

  $8,387,858

  Hospitality

  $7,683,233

  Educational

  $6,392,360

  Medical

  $6,612,202

  Retail

  $9,943,670

Location Insight

City

Sioux Falls

County

Minnehaha

State

South Dakota

Latitude

43.5491

Longitude

-96.7264

CBSA code

43620

CBSA name

SIOUX FALLS, SD METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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