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3817 S Elmwood Ave 13,388 SF Office Building Sioux Falls, SD 57105 $1,950,000 ($145.65/SF) 6.69% Cap Rate
Investment Highlights
- Fully leased to Helpline Center, Inc., with a new long-term lease commencing in September 2026.
- Infrastructure includes a backup power generator and recently upgraded parking with enhanced capacity.
- Surrounded by strong co-tenancy including NAI Sioux Falls, Scheels, The Western Mall, and multiple national retailers.
- Positioned on 1.13 acres with a 14,780 SF office facility built to accommodate modern operational needs.
- Located just off West 49th Street, with convenient access to I-29 and key business corridors in Sioux Falls.
- Stable in-place income with forecasted rent growth under the new lease terms.
Executive Summary
This single-tenant office investment property presents a rare opportunity in the vibrant Sioux Falls market. The asset is fully occupied by Helpline Center, Inc., which recently executed a new five-year lease commencing September 2026, ensuring long-term income stability for investors. The building offers potential upside through a below-market rent structure and efficient operating costs, positioning it as a compelling long-term hold.
Constructed in 1990, the property has been well maintained and includes modern infrastructure upgrades, such as a backup generator and new parking lot installed in 2018 with additional capacity. It is strategically located near major arterial routes, including I-29, and is surrounded by retail, healthcare, and premier office amenities, fostering strong demand for the area. Extensive parking accommodations and accessible site design make the property a functional and future-proof investment.
Constructed in 1990, the property has been well maintained and includes modern infrastructure upgrades, such as a backup generator and new parking lot installed in 2018 with additional capacity. It is strategically located near major arterial routes, including I-29, and is surrounded by retail, healthcare, and premier office amenities, fostering strong demand for the area. Extensive parking accommodations and accessible site design make the property a functional and future-proof investment.
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
13,388 SF
Building Class
C
Year Built
1986
Price
$1,950,000
Price Per SF
$145.65
Cap Rate
6.69%
NOI
$130,444
Tenancy
Single
Building Height
2 Stories
Typical Floor Size
6,694 SF
Slab To Slab
12’
Building FAR
0.40
Lot Size
0.76 AC
Parking
71 Spaces (5.3 Spaces per 1,000 SF Leased)
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Moderately walkable
60/100
Exceptionally drivable
90/100
Limited public transit
30/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 59365 | Improvements Assessment | $1,342,400 |
| Land Assessment | $198,600 | Total Assessment | $1,541,000 |
Property Taxes
Parcel Number
59365
Land Assessment
$198,600
Improvements Assessment
$1,342,400
Total Assessment
$1,541,000
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3817 S Elmwood Ave
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