421 Phillips AveSioux Falls, SD 57104

Property Details for 421 Phillips Ave

Year built

2017

Construction

TYPE NOT SPECIFIED

Lot size

0.11 AC

Property size (Sq ft)

16,517 SF

Zone code

C3;GENERAL COMMERCIAL

Property type

Strip malls

Property subtype

Neighborhood centers

APN

88703

APU

88703

Description

This exceptional 520-square-foot retail storefront, located in Suite 116 of the Jones421 Marketplace, presents a unique opportunity for businesses seeking a vibrant downtown presence. Situated on Phillips to the Falls, this property enjoys high visibility and foot traffic, benefiting from its proximity to the popular Levitt at the Falls. The space features floor-to-ceiling doors and windows, offering abundant natural light and showcasing the attractive outdoor courtyard. The open interior layout provides flexibility for various retail configurations. The property is zoned DTPUD (Downtown Planned Town Unit Development) and has an APN of 012216158048000. This single-tenant space is available for lease commencing May 16th, 2024, under a gross lease agreement. Rent is $1200 per month, plus electricity; internet is the tenant's responsibility. A 24-hour notice is required for all showings. Don't miss this chance to establish your business in a thriving downtown location.

• CAP approach

  CAP return

  Valuation

  6%

  $3,749,922

  6.5%

  $3,461,466

  7%

  $3,214,218

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,124,430

  Geo Method

  $2,124,430

• Alternative Use

  Use

  Valuation

  Residential

  $2,919,876

  Hospitality

  $2,674,591

  Educational

  $2,225,228

  Medical

  $2,301,757

  Retail

  $3,461,466

Location Insight

City

Sioux Falls

County

Minnehaha

State

South Dakota

Latitude

43.5518

Longitude

-96.7275

CBSA code

43620

CBSA name

SIOUX FALLS, SD METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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