Owner of former Allure Health building accepting best offers with reduced price
April 9, 2025
This paid Site Spotlight is sponsored by Van Buskirk Cos.
A unique multiuse building in south Sioux Falls has a reduced price and is accepting offers.
The former Allure Health building is at 7000 S. Lyncrest Place. When it opened in mid-2022, it included a clinic in addition to an IV business, fitness center and bar. It closed about a year ago.
Since putting the 10,558-square-foot property on the market 18 months ago, “we have had dozens of showings,” said Mike Knudson of Van Buskirk Cos., who has the property co-listed with Ryan Tysdal.
“At one point, it was our most-viewed property among online real estate listings. The interest in this property from potential buyers has been extremely strong to say the least.”
The building is like-new, which has generated interest given that “with today’s construction costs, a user would not be able to replicate the building shell anywhere near the original cost,” Knudson said.
“The south-side location also is very desirable. There is not much existing inventory in this part of the city, which has driven interest.”
Still, most potential buyers would need to modify it significantly, which has led the bank that now owns the property to list it for $3.75 million, approximately half the original list price.
“The property is priced to sell,” Knudson said.
“With so many buyers needing to completely remodel the interior, the new pricing structure allows the property to be purchased and remodeled – and still make financial sense to a buyer.”
The property also has an SBA 504 loan in place, which can be assumed by a buyer, with a 5.2 percent interest rate on a 25-year term.
“These favorable financing terms are really beneficial to most buyers, considering our current interest rate environment,” Knudson said.
The uses by potential buyers “have been all over the board,” he added. “Most have shared that they would demo the interior, with a complete redesign in order to repurpose the building. Interested parties have included medical clinics, retail operators and office users such as wealth management, attorneys and similar uses.”
Van Buskirk Cos. has launched a “call for offers,” inviting buyers to bring their highest and best offers with a deadline of April 30, at which point the lender will review offers and choose one.
Sealed offers should be submitted to Mike Knudson and Ryan Tysdal of Van Buskirk Cos. Reach Mike Knudson at 605-310-4509 or mike.knudson@vbclink.com and Ryan Tysdal at 605-376-0127 or ryan.tysdal@vbclink.com.
A preview event will be from 3 to 5 p.m. Tuesday, April 15, for interested buyers and brokers to walk through the property. Knudson and Tysdal will be there to answer questions.
