Remodeled Retail Space in Rapid
12300 W Hwy 44, Rapid City, SD 57702
Business/Land/Building(s) - Rapid City, SD
Property size:
3,456 SFLot size:
0.44 AcresPrice / SF:
$158/SF- Added:
- Feb 19, 2026
- Days on Market:
- 86
- Last Refresh:
- May 16 at 8:06 pm
Property Features for 12300 W Hwy 44
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Interior features
- High Visibility, Restrooms
- Exterior features
- Hi-traffic Location
- Standard status
- Active
- Size
- 3,456 SF
- Lot size
- 0.44 Acres
Utilities
- Heating system
- Forced Air
Building Details
- Year built
- 1959
- Floors in Building
- 1
- Architectural style
- Other
Listing agent Jeremy Kahler (605) 381-7500
Listing office Keller Williams Realty Black Hills SP 745 N. Ames St. Unit 1, Rapid City, SD (605) 343-7500
Listing date Feb 19, 2026
MLS# 87519
Listing URL
Copyright © 2026 Mt. Rushmore Area Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- High‑traffic location with great visibility and up to 2,500 vehicles/day.
- Fully remodeled 2,136 sqft retail space with extensive updates, including new roof, septic system, HVAC, electrical, plumbing, insulation, and interior finishes.
- Includes a 1,320 sqft second building with existing rental income from a long‑term tenant and three storage units.
- Features a walk‑in 25'x7' cooler with 10 access doors.
- Opportunity for future expansion with retained front covered awning and potential to add fuel system.
- Updated with energy‑efficient heat meter and LED lighting.
Overview
This 3,456 square foot property in Rapid City, SD, offers a 2,136 square foot remodeled retail space with additional income potential. The property, formerly a gas station, has undergone extensive renovations. Exterior updates include a new rubber roof on the main building, a metal roof on the storage building, a new mound septic system with lift station, and new HVAC trunks with an energy-efficient heat meter. Interior updates feature a new interior ceiling with 20 inches of blown-in insulation, updated electrical and plumbing lines, LED lighting, fresh paint, new drywall, and a freshly painted and sealed concrete floor. A walk-in 25'x7' cooler includes 10 access doors. The second building measures 1,320 square feet and provides residual income. The front 450 square feet is leased to a long-term tenant on a month-to-month basis. The remaining 864 square feet is divided into 3 separate storage units, each with a 10' overhead door. The property includes ample parking in a gravel area. The sellers have retained the front covered awning for expansion opportunities. The location offers great visibility and daily traffic, with the SD DOT 2024 ADT report indicating up to 2,500 vehicles per day. Situated on 0.44 acres, the property is located next to the Happy Tavern. The sellers removed the non-compliant fuel system, but these could be added back later for additional income potential.
Financial Insights
Value Estimation Calculated for Specialty Retail
Conservative
$487.3K
NOI $43,857 @ 9.00% cap · cautious / downside scenario
Moderate
$626.5K
NOI $43,857 @ 7.00% cap · market / base-case scenario
Aggressive
$877.1K
NOI $43,857 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
Calculated for Specialty Retail
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $62.2k | $18.00 |
| − Vacancy | −$3.7k | −$1.08 |
| EGI | $58.5k | $16.92 |
| − OpEx | −$14.6k | −$4.23 |
| NOI | $43.9k | $12.69 |
3,456 SF · lease $18.00/SF/yr · vacancy 6.00% · expense 25.00%
Alternative Use Scenarios
Best Use
Specialty Retail
$626.5K
$548.2K – $731.0K
NOI $43,857 @ 7.0% cap · market cap 7.99%
Second Best
Retail
$572.3K
$500.8K – $667.7K
NOI $40,062 @ 7.0% cap · market cap 7.30%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Retail space
Location Insight
- Map
- Local Demand
- City
- Rapid City
- County
- Pennington
- State
- South Dakota
- Longitude
- -103.439019
- Latitude
- 44.083842
Nearby Similar for Sale
FAQs
What type of property is this?
Retail space - 2,136 SF remodeled retail space with additional income potential.
Where is this retail space located?
The property is located at 12300 W Hwy 44 Rapid City, SD.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: High‑traffic location with great visibility and up to 2,500 vehicles/day.; Fully remodeled 2,136 sqft retail space with extensive updates, including new roof, septic system, HVAC, electrical, plumbing, insulation, and interior finishes.; Includes a 1,320 sqft second building with existing rental income from a long‑term tenant and three storage units.
