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Office

Tech II Office Building

3904 W Technology Cir, Sioux Falls, SD 57106

Listing Price: $2,808,000

Cap Rate
7.25%
Gross SF
19,071
Rentable SF
19,071
Price/Gross SF
$147.24
Lot Size
2.10 acres
Year Built
1995

Investment Overview

Marcus and Millichap is pleased to present the Tech II Office Building, a 19,071 rentable square foot, fully occupied office building located at 3704 W Technology Circle in Sioux Falls, South Dakota. The Tech II Building was constructed in 1995 on 2.1 acres, and consists of six separate suites. All of Tech II’s suites have undergone major upgrades over the past five years, with about $100,000 invested into new carpets and paint. In addition, the parking lot was recently resurfaced and restriped. Tech II is occupied by a mix of government, financial, and non-profit tenants. The building's largest tenant, the Social Security Administration, recently renewed their lease for 15 years, providing an investor a long-term, credit tenant to anchor the property. Social Security’s space has also been significantly improved recently, with the government funding a roughly $500,000 tenant improvement project. Located within the MSA of Sioux Falls, South Dakota's largest city, the Tech II building stands to appreciate significantly from investor interest in the area, as well as steady year-over-year rent growth. The current average rent at Tech II ($16.05/foot- Full Service) falls well below the current market rate for similar space in the area, giving an investor the opportunity to increase their return by raising rents over time.

Investment Highlights

  • Largest Tenant (Social Security Administration) Recently Signed a 15 Year Lease Renewal
  • Add Value Opportunity- Below Market Rents
  • Diverse Mix of Government, Financial and Non-Profit Tenants
  • No State Income Tax in South Dakota

Exclusively Listed By

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9700

    License(s) SD: 17724

    South Dakota

Financing By

Office

Tech II Office Building

Listing Price: $2,808,000

Cap Rate
7.25%
Gross SF
19,071
Rentable SF
19,071
Price/Gross SF
$147.24
Lot Size
2.10 acres
Year Built
1995

Investment Highlights

  • Largest Tenant (Social Security Administration) Recently Signed a 15 Year Lease Renewal
  • Add Value Opportunity- Below Market Rents
  • Diverse Mix of Government, Financial and Non-Profit Tenants
  • No State Income Tax in South Dakota

Investment Overview

Marcus and Millichap is pleased to present the Tech II Office Building, a 19,071 rentable square foot, fully occupied office building located at 3704 W Technology Circle in Sioux Falls, South Dakota. The Tech II Building was constructed in 1995 on 2.1 acres, and consists of six separate suites. All of Tech II’s suites have undergone major upgrades over the past five years, with about $100,000 invested into new carpets and paint. In addition, the parking lot was recently resurfaced and restriped. Tech II is occupied by a mix of government, financial, and non-profit tenants. The building's largest tenant, the Social Security Administration, recently renewed their lease for 15 years, providing an investor a long-term, credit tenant to anchor the property. Social Security’s space has also been significantly improved recently, with the government funding a roughly $500,000 tenant improvement project. Located within the MSA of Sioux Falls, South Dakota's largest city, the Tech II building stands to appreciate significantly from investor interest in the area, as well as steady year-over-year rent growth. The current average rent at Tech II ($16.05/foot- Full Service) falls well below the current market rate for similar space in the area, giving an investor the opportunity to increase their return by raising rents over time.

Exclusively Listed By

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9700

    License(s): SD: 17724

    South Dakota

Financing By

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