Flex Space with Outdoor
For Sale
$1,300,000
1131 Plant St, Rapid City, SD 57702
Shop, showroom, office areas, and yard space provide a mix of indoor workspace and exterior storage capacity.
Property Size7,000 SF
Lot Size1.19 Acres
Price / SF$185.71
Days on Market13
Property Features for 1131 Plant St
General Information
Standard status
Active
Size
7,000 SF
Total Parking Spaces
16
Lot size
1.19 Acres
Warehouse & Industrial
Clear Height
15 ft
Voltage
208 V
Three-Phase Power
Yes
Additional Details
Outdoor Storage
Yes
Amenities
conference room
kitchenette
full bathroom
outdoor deck
Building Details
Buildings
1
Stories
2
Building Size
7,000 SF
Listing Agency:
KELLER WILLIAMS REALTY BLACK HILLS
Listed By:
CHRISTOPHER LONG · License #1840
(605) 939-4489
Source:
Exprealty
Added: Oct 12
Changed: Oct 23
Last Checked: Oct 23 at 5:26PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of KELLER WILLIAMS REALTY BLACK HILLS
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Investment Insights
Based on property information with market context.
This 7,000 SF flex property occupies 1.19 acres and combines shop, showroom, and office space. The 3,000 SF main-level shop has 15-foot clear height, a 12' x 14' overhead door, radiant heat, 3-phase 120/208V power, a 5-ton crane, skylights, and air lines. The separate customer-facing area includes a showroom and three private offices. The upper floor adds workspace, a conference room, kitchenette, full bathroom, and outdoor deck. The building previously operated as a machine shop.
The site includes 16 paved parking spaces and a gravel yard for equipment, vehicles, or storage. Its combination of shop infrastructure, office areas, and exterior space supports a range of flex and industrial operations.
The site includes 16 paved parking spaces and a gravel yard for equipment, vehicles, or storage. Its combination of shop infrastructure, office areas, and exterior space supports a range of flex and industrial operations.
Key Highlights
- 7,000 SF building on a 1.19‑acre parcel
- 3,000 SF main‑level shop with 15' clear height
- 12' x 14' overhead door, radiant heat, skylights, and air lines
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$61,425
Cap Rate
4.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,228,500
$1.2M
Cap Rate 7%
$877,500
$877.5K
Cap Rate 9%
$682,500
$682.5K
Market Conditions
NOI Build-Up for 7,000 SF
Gross rent
$105.0K $15.00/SF
− Vacancy
−$10.5K −$1.50/SF
EGI
$94.5K $13.50/SF
− OpEx
−$33.1K −$4.73/SF
NOI
$61.4K $8.78/SF
Area
Pennington County, SD
Vacancy
10.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,228,500
Cap Rate 7%
$877,500
Cap Rate 9%
$682,500
Alternative Uses
Best Use
Flex RnD
$877.5K
$767.8K – $1.02M
NOI $61,425 @ 7.0% cap · market cap 4.73%
Second Best
Industrial
$510.5K
$446.7K – $595.6K
NOI $35,736 @ 7.0% cap · market cap 2.75%
Theoretical Best
Specialty Retail
$1.27M
$1.11M – $1.48M
NOI $88,830 @ 7.0% cap · market cap 6.83%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
15 ft
Clear height
Location Intelligence
Trade Area within ½ mile
349
Businesses Nearby
Well-served
Demand for This Use
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Business Placement
Demographics for 57702, SD
33,162
Population
16,786
Households
2
Avg Household Size
46
Median Age
48%
College-Educated
98%
High-School Grad
285.8 sq mi
ZIP Area
116
Density / Sq Mi
$85,700
Median Household Income
$44,214
Median Earnings
$1,209
Median Rent
$341,400
Median Home Value
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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - Shop, showroom, office areas, and yard space provide a mix of indoor workspace and exterior storage capacity.
Where is this flex space located?
The property is located at 1131 Plant St Rapid City, SD.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 7,000 SF building on a 1.19‑acre parcel; 3,000 SF main‑level shop with 15' clear height; 12' x 14' overhead door, radiant heat, skylights, and air lines
