March 9, 2022

It likely has been many decades since this much land in this area of Louise Avenue went on the market.

But because of what broker Ryan Ammann calls “an unusual culmination,” there are two properties available right next to one another.

“They’re on ultimately the same campus within 20 yards of each other, offering different sizes and different options,” said Ammann of NAI Sioux Falls.

The property at 2508 and 2510 S. Louise Ave. has had a variety of retail uses. Exact Eye Care closed in 2019, and the owner sold the building.

The other half had been a location for TCF Bank, which then briefly became a Huntington Bank through acquisition. That branch closed last month.

The building at 2520 S. Louise Ave. had been vacant since Puerto Vallarta closed three years ago. The space next to that most recently was Coco Palace Thai Restaurant, which closed in 2014.

The property changed hands recently and originally was purchased by a group that had applied for a marijuana license. They weren’t selected in the lottery and now are considering other businesses, Ammann said.

“They will be using at least part of one or the other for themselves, much like previous ownership, but we will look to lease the rest,” he said. “We’ve had interest all along. I would get calls on a regular basis for that property, and we expect that to continue.”

In the first days of beginning to market it, Ammann had interest in everything from the entire property to smaller portions envisioned as restaurants.

That stretch of Louise Avenue draws more than 17,000 vehicles a day, surrounded by multiple large national retailers, making it a rare opportunity to secure property in a major retail area of the city.

“I think we really stand to make some headway on backfilling that space,” Ammann said. “It’s just too good of a location.”