Sioux Falls Land for Sale
SELLER WILLING TO SELL INDIVIDUAL PARCELS As an added bonus, The Clarion Pointe Hotel next door to the development site can be purchased in a separate agreement as part of any or all purchase of the 41 Acre Mixed Use Site, 6.7 Acre Multi Family, Apartment, Live Work, Senior Housing Site or any smaller parcels agreed on by seller to be sold separately. There are several new residential communities coming to the area and the City of Sioux Falls is investing in area infrastructure.
The seller is willing to sell smaller parcels if it is a good fit for the development. The Clarion Pointe Hotel has recently gone through
$3 million plus in renovations and has strong occupancy and financials. Direct access from Exit 83 on Interstate 29 at the I29 & I90 Interchange. Next door to Flying J Travel Center, Boss Truck Stop, Burger King & many more business coming to the area.
This exceptional 41.16-acre mixed-use development site in Sioux Falls, South Dakota offers a rare investment opportunity in one of the Midwest’s fastest-growing cities. Zoned C-4 and LW, the property is ideally positioned at the southeast corner of I-29 and I-90, just 3.6 miles (approximately five minutes) from the Sioux Falls Airport (FSD). The entire site is located within a designated Opportunity Zone, providing investors the ability to defer capital gains taxes through a qualified Opportunity Zone exchange while benefiting from strong long-term growth potential.
The site is ideally suited for a variety of uses including retail, Hybrid Flex, self-storage, apartments, multifamily housing, and more. PD civil engineering plans are already in place and ready to be modified. Utilities are available at the site, and key infrastructure such as stormwater drains and fire hydrants has already been installed. The topography of the land offers excellent exposure along both interstates, with strong traffic counts on I-29 and I-90. Access to the property is easy and the surrounding area is rapidly expanding, with notable growth within a 3-, 5-, 10-, and 20-mile radius.
Major national companies already established near the site include Amazon, UPS, FedEx, Aldi, Walmart, Harley Davidson, Burger King, Clarion Pointe Hotel, and Flying J Truck Stop. The area is also highly favorable from a tax standpoint, as South Dakota does not impose a state income tax, adding further appeal to investors and developers. The market is primed for a mixed-use retail and apartment project, and national developers are encouraged to explore this opportunity.
The seller is willing to subdivide the LW and C-4 sections and is offering the land at $5.25 per square foot, totaling $9,412,880 for the full 41.16 acres (1,792,893 square feet). PD civil plans are available upon request with an executed confidentiality agreement. Click on the offering memorandum for full details, and view the video link for aerial footage and site highlights.
The parcel, located at 5801 N Kiwanis Avenue, includes SE1/4 NW1/4 (EX H1 & H2) and NE1/4 SW1/4 (EX Skyline Heights & H-2 & Redstone Village Addn) within unplatted Sioux Falls City, with a city parcel ID of 011630100006000 and county parcel ID of Minnehaha / 14567.
In terms of multifamily potential, average apartment rents in Sioux Falls are approximately $1,114 per month. Studio apartments rent for around $867, one-bedrooms for about $960, two-bedrooms for $1,163, and three-bedrooms average $1,478. Investment property cap rates in the area typically range from 5% to 7%, depending on asset type and location. Retail lease rates currently range between $20 to $40 per square foot, depending on location and lease terms.
Letters of Intent (LOIs) should be submitted to Don Droke or Stacey Sieverding.
