Premier Downtown Sioux Falls Property

220-222 S. Phillips Ave, Sioux Falls, SD 57104
8,670.00 SF
$2,800,000
Retail, Investments, Special Use for Sale
20 Photos
Raquel Blount, SIOR
Raquel Blount, SIOR
1st Level Tenant #1
Approx. 2,970 SF
1st Level Tenant #2
Approx. 3,000 SF
2nd Level Loft
Approx. 2,970 SF
Lot Size
6,600 SF +/-
Building Size
Approx. 8,670 SF
Sale Price
$2,800,00
Location Highlights
  • Property features two first level retail bays with access on Phillips Avenue and Mall Avenue, and a spacious residential loft with rooftop deck that overlooks Phillips Avenue.
  • Positioned in the heart of Downtown Sioux Falls near tons of dining, shopping, and entertainment opportunities.
  • Extensive underground parking below the entire building; can fit up to seven cars
Description

Residential Loft Unit:

  • Size: Approx. 2,970 SF
  • Gorgeous loft unit overlooking Phillips Avenue – designed for entertaining!
  • The floor plan showcases a grand living room with bay window overlooking Phillips Avenue, coat closet, kitchen/dining, pantry, ½ bath, master bedroom with attached bathroom, walk-in shower and walk-in closet, guest room, bathroom, laundry/utility room, and office.
  • Ample property features including a private elevator, remote operated drapes, historical woodworking throughout, built-in cabinetry in the living room, and a wide hallway in the bedroom wing featuring Tiffany sconces
  • The roof top deck with a covered pergola area is great for watching the happenings of DTSF
  • Radiant floor heating system with a new water heater unit
  • Individual A/C units for each room
  • Rubber roof was updated in 2018
  • The kitchen is every chef and baker’s dream, featuring a La Cornue stove (gas and electric options), commercial grade hood, two Subzero refrigerator drawers, ice maker, pantry with built-in cabinetry, instant hot water facet, and a warming drawer
  • Abundant natural light with windows on all four sides of the loft unit
  • Exterior fire escape on back side of building
  • 10-foot ceilings in the dining/living room, kitchen, and 9-foot tin ceilings in the back rooms and hallway
  • Detailed tin ceiling in the dining/living room and kitchen
  • Speakers in main living area and deck

Underground Parking:

  • Extensive underground parking below the entire building
  • Capacity is approximately seven cars
  • Maintains comfortable temperature year-round
  • Endless opportunities in the basement for a hobby space, bowling alley, movie theater, large parking/storage area, etc.

Commercial Space:

  • Tenant Suite 1:
  • Size: Approx. 2,700 SF
  • Currently leased to Chelsea’s Boutique
  • The floor plan features a spacious retail floor with dressing rooms and storage area with access to Mall Avenue
  • Tenant Suite 2:
  • Size: Approx. 3,000 SF
  • Currently occupied by Young & Richards but vacate upon sale
    The floor plan features an open showroom space with a built-in cash wrap, cooler room with insulated walls, storage room (could be converted to 2nd restroom), restroom, utility room with mop sink, kitchen area with 3-compartment sink, and access to Mall Avenue
  • FF&E, including floral coolers, may be negotiated separately
  • The space offers an oversized HVAC unit
  • Both suites offer prime Phillips Avenue retail frontage
  • Access to Mall Avenue provides easy access for deliveries and close proximity to the parking ramp on the east side of Mall Avenue
  • Potential for main level suites to be combined in the future by eliminating sheet rocked areas within the spaces

Building Specifics:

  • Building constructed in 1914 with façade updated in 2007
  • Opportunity for shared garbage use
  • A “special assessment” is in place to with DTSF for the Building Improvement District
  • Property has an easement for the fire sprinkler system and electrical system with the adjoining property (Lucky’s). The fire sprinkler system main is in the basement with a line running to Lucky’s. Chelsea’s Boutique has the fire monitoring system in the space for the entire building and Lucky’s. The electrical panels are in the basement (including Lucky’s). Lucky’s pays for the fire system inspection annually.
  • Real Estate taxes due in 2021: $10,645.96
  • Contact Broker for additional details
Location
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