Hey BP, I'm diligencing a property in the Sioux City area and looking to get some local investor POV on the market for larger MFUs and commercial properties (storage units, warehouse, office space).
Beyond Wikipedia and gov / census data, any other good info sources or personal feedback on the Sioux City market? Local economic trends / happenings to be wary of?
Thank you, all feedback is super helpful.
Sioux City is a dying dump. Never buy anything there. I've often wondered how often out of state investors get suckered into buying stuff there. The numbers look good on paper, but the reality is a nightmare. The illegal immigrants working at the slaughter houses along with bad local policy have turned the city into a cesspool full of ghettos and crime. I wouldn't bet a dollar on the future of that town and given how much commercial property and multifamily at high cap rates is always for sale there I would say most the locals agree with me.
Just noticed the age of this post. Hope you didn't buy it. lol
I remember when the interest started construction, i think i was in diapers. That should be a HUGE red flag.