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    Retail Space in Box Elder Title is generated by Realmo AI

    441 N Ellsworth Road, Box Elder, SD 57719

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    For Lease
    $1.00 SF/Yr $154/Mo (calc)

    Leasehold-Land/Bldg/Both - Box Elder, SD

    Property size:
    1,850 SF
    Lot size:
    0.53 Acres
    Added:
    Jun 13, 2024
    Days on Market:
    706
    Last Refresh:
    May 19 at 8:06 pm

    Property Features for 441 N Ellsworth Road

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Interior features
    High Visibility
    Standard status
    Active
    Size
    1,850 SF
    Lot size
    0.53 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Christopher Long

    Listing agent Christopher Long

    Listing office Keller Williams Realty Black Hills RC 2401 W Main Street, Rapid City, SD

    Listing date Jun 13, 2024

    MLS# 80589 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‑profile retail space with two‑window drive‑thru, ideal for coffee, deli, or donut shop.
    • Co‑branding opportunity inside Sentinel Federal's new location, leveraging their customer traffic and exposure.
    • Prime location on the northwest corner of N Ellsworth Rd and Liberty Blvd with high visibility.
    • Significant tenant improvement allowance of $25.00/SF from the landlord.
    • Located in an area with increasing traffic due to Ellsworth's expansion; traffic count recorded at 8,055+ vehicles per day.
    • 1,850 SF retail unit available for lease at $18.00/SF/YR ($2,400/Mo) plus Est. NNN.

    Overview

    This is a new construction retail space offering a co-branding opportunity. The 1,850 square foot retail unit is located inside the new Sentinel Federal location. It features a high-profile, two-window drive-thru, making it suitable for a coffee shop, deli, or donut shop. The property is located on the northwest corner of N Ellsworth Rd and Liberty Blvd, offering exposure and customer traffic from Sentinel Financial. The location is positioned to benefit from the expansion of Ellsworth over the next several years. Traffic count is recorded at 8,055+ vehicles per day. The landlord is offering $25.00 per square foot for tenant improvements, with a 5-year minimum term. The lease rate is $18.00 per square foot per year ($2,400 per month) plus estimated NNN. The lot size is 0.53 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Hair Salon Auto Repair Shop Hotel & Motel Department Store Food Market

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Box Elder
    County
    Pennington
    State
    South Dakota
    Longitude
    -103.0715881
    Latitude
    44.1313967

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    FAQs

    What type of property is this?
    Retail space - New construction retail space with drive-thru opportunity.
    Where is this retail space located?
    The property is located at 441 N Ellsworth Road Box Elder, SD.
    What is the lease rate?
    The lease rate is $1.00 SF/Yr.
    What are key features of this property?
    This property features: High‑profile retail space with **two‑window drive‑thru**, ideal for coffee, deli, or donut shop.; Co‑branding opportunity inside Sentinel Federal's new location, leveraging their customer traffic and exposure.; **Prime location** on the northwest corner of N Ellsworth Rd and Liberty Blvd with high visibility.
    (605) 343-7500
    We can help!
    Listing Contact
    Christopher Long
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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