3701 49Th StSioux Falls, SD 57106

This exceptional investment opportunity presents a fully leased, 47,896 square foot office complex situated on a prominent 2.94-acre corner lot in Sioux Falls, South Dakota. The property, comprised of two buildings, boasts 31 tenants, achieving 100% occupancy and generating a strong net operating income (NOI) of $319,311, representing a 7.02% cap rate. Priced at $4,550,000 ($95/sq ft), this Class B office building offers significant upside potential. The property features a modified lease structure with short-term leases, strategically positioned to facilitate redevelopment or a buy-and-hold strategy with the potential to convert to long-term NNN leases at market rates. The location benefits from high traffic counts on W 49th Street (approx. 11,800 vehicles/day) and S Louise Avenue (approx. 23,300 vehicles/day), and enjoys excellent visibility due to its hard corner location and a billboard. The land itself is valued at $35 per square foot, totaling 127,995 square feet. The permitted zoning is retail, offering further flexibility for future development. Nearby prominent businesses include the Empire Mall, Hy-Vee, and Target. This property presents a compelling combination of immediate income and significant long-term redevelopment potential in a thriving Sioux Falls location. The property is zoned for retail use. The total frontage is 716 feet.