500 S Minnesota Ave, Sioux Falls, SD 57104

Major downtown development site The Gateway to Downtown. Qualifies for Tax Incremental Financing (TIF). Five older buildings, four tracts of land located on north portion of a block bounded by Minnesota and Dakota Ave and 13th and 14th Sts. 37,920 SF. 21 apt. units in 5 bldgs. 501 S Dakota Ave and 301 W 13th St (2 units, 1 bldg.) and 325 W. 13th St. (3 units 1 bldg.) are one tract; 327 W. 13th (1 tract, 4 units); 500 S. Minnesota (1 tract 8 units); 608 S Minnesota vacant land; 510-12 S Minnesota (1 tract 4 units). Gross rents about $108,000. ALL TRACTS MUST BE PURCHASED TOGETHER. Pricing reflects LAND ONLY at $25.00 SF or $948,000. The 21 units in five buildings are essentially FREE. Zoned C-3. Long-term prospect for this site is not current apartment use. Ideal site for mid-to-high-rise structure with underground parking. TIF could pay significant portion of land cost, utility and other infrastructure. Site elevation is the highest central downtown pinnacle.