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The Frances Building 505-511 5th St 92,000 SF 100% Leased Office Building Sioux City, IA 51101 $2,750,000 ($29.89/SF)
Investment Highlights
- One of Sioux City’s most recognized and admired historic buildings, offering irreplaceable architectural character and long-term prestige
- Scale and diversification across retail, restaurant, and office uses enhance income stability and leasing flexibility
- Upper-floor office spaces remain well-leased, reflecting ongoing demand for downtown office environments
- Over 100 years as a commercial centerpiece, demonstrating durability, adaptability, and sustained investment performance
- Ground-floor tenants contribute to downtown vibrancy and foot traffic, strengthening tenant retention and visibility
- Recent investments in elevators, roof, and restrooms reduce near-term capital needs and increase buyer confidence
Executive Summary
The iconic 8-story Frances Building stands as one of downtown Sioux City’s most recognizable architectural landmarks and a proven cornerstone of the local commercial landscape. With an estimated ±54,000 SF of rentable space, this historic asset has served as a vibrant hub for commerce in the heart of Siouxland for more than a century, combining timeless character with enduring investment performance.
The building offers a dynamic mixed-use environment, featuring street-level restaurant and retail tenants that energize the downtown streetscape, while upper-floor office suites maintain strong occupancy and consistent demand. This balanced tenant mix enhances both income stability and long-term leasing appeal. Ownership has demonstrated a commitment to preserving the Frances Building’s reputation as a desirable and functional workplace, completing meaningful capital improvements including elevator system upgrades, roof replacement, and modernized restrooms.
These investments position the property for continued performance while retaining the historic charm that sets it apart in the downtown market. The Frances Building represents a rare opportunity to acquire a well-maintained, income-producing historic asset with scale, character, and a long-standing record of success in Sioux City’s central business district.
The building offers a dynamic mixed-use environment, featuring street-level restaurant and retail tenants that energize the downtown streetscape, while upper-floor office suites maintain strong occupancy and consistent demand. This balanced tenant mix enhances both income stability and long-term leasing appeal. Ownership has demonstrated a commitment to preserving the Frances Building’s reputation as a desirable and functional workplace, completing meaningful capital improvements including elevator system upgrades, roof replacement, and modernized restrooms.
These investments position the property for continued performance while retaining the historic charm that sets it apart in the downtown market. The Frances Building represents a rare opportunity to acquire a well-maintained, income-producing historic asset with scale, character, and a long-standing record of success in Sioux City’s central business district.
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
92,000 SF
Building Class
C
Year Built
1919
Price
$2,750,000
Price Per SF
$29.89
Percent Leased
100%
Tenancy
Multiple
Building Height
8 Stories
Typical Floor Size
11,500 SF
Building FAR
6.21
Lot Size
0.34 AC
Opportunity Zone
Yes
Zoning
DC - Commercial
Amenities
- 24 Hour Access
- Bus Line
- Controlled Access
- Skyway
- Air Conditioning
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Walk Score®
Walker's Paradise (90)
Property Taxes
| Parcel Number | 894728329003 | Improvements Assessment | $1,785,600 |
| Land Assessment | $82,500 | Total Assessment | $1,868,100 |
Property Taxes
Parcel Number
894728329003
Land Assessment
$82,500
Improvements Assessment
$1,785,600
Total Assessment
$1,868,100
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Presented by
LPT Realty
The Frances Building | 505-511 5th St
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