613 & 619 Pierce St | Sioux City, IA 51101
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613 & 619 Pierce St
Sioux City, IA 51101
Historic Williges & Private Ramp · Office Property For Sale
Investment Highlights
- Connected directly to every floor of the Williges Building via elevator.
- Recently remodeled and updated.
Executive Summary
Historic Williges Building and private parking ramp in prime location between $73M newly restored Warrior Hotel (Marriott Autograph Collection), Orpheum Theatre, City Hall and County Courthouse. Sale includes the main floor Vriezelaar Law Firm office condo, 2nd floor McClure Engineering office condo, full basement with high clearance storage and the attached 121-stall private parking ramp.
The 60,000 SF parking ramp is connected directly to every floor of the Williges Building via elevator. Both tenants have occupied the building since the 2014 full restoration of the mixed-use Williges. The sale does not include the SEDC office condo on 2nd floor and the 6 residential condos on 3rd floor. There is no public ramp in the NW quadrant of downtown, so neighborhood parking is in high demand. The basement could easily be converted to self-storage for tenants of the building creating additional income. Financials available upon executed NDA.
The 60,000 SF parking ramp is connected directly to every floor of the Williges Building via elevator. Both tenants have occupied the building since the 2014 full restoration of the mixed-use Williges. The sale does not include the SEDC office condo on 2nd floor and the 6 residential condos on 3rd floor. There is no public ramp in the NW quadrant of downtown, so neighborhood parking is in high demand. The basement could easily be converted to self-storage for tenants of the building creating additional income. Financials available upon executed NDA.
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Building Size
9,203 SF
Building Class
B
Year Built/Renovated
1917/2014
Price
$1,200,000
Price Per SF
$130
Cap Rate
9.12%
NOI
$109,417
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
4,602 SF
Building FAR
0.41
Lot Size
0.52 AC
Opportunity Zone
Yes
Zoning
DC - Downtown Commercial
Parking
121 Spaces (13.15 Spaces per 1,000 SF Leased)
Amenities
- Basement
PROPERTY TAXES
| Parcel Number | 894728304006 | Improvements Assessment | $302,300 |
| Land Assessment | $111,200 | Total Assessment | $413,500 |
PROPERTY TAXES
Parcel Number
894728304006
Land Assessment
$111,200
Improvements Assessment
$302,300
Total Assessment
$413,500
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