Remodeled Restaurant Building For
For Sale
Contact for pricing
23858 Hwy 385, Hill City, SD
Remodeled restaurant with outdoor patio near Black Hills attractions.
Property Size4,960 SF
Lot Size1.62 Acres
Price / SF$181.25
Days on Market716
Property Features for 23858 Hwy 385
General Information
Standard status
Active
Size
4,960 SF
Lot size
1.62 Acres
Property subtype
RETAIL
Listing Agency:
KW Black Hills
(605) 939-4489
Listed By:
Chris Long · License #14881
(605) 939-4489
Source:
Moodyscre
Added: Aug 16, 2024
Changed: Jul 6
Last Checked: Jul 21 at 6:53AM
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 KW Black Hills
Investment Insights
Based on property information with market context.
This restaurant building, completely remodeled in 2018, is centrally located near top attractions in the Black Hills, just outside of Hill City, SD. The property features a shaded outdoor patio with views of the Black Hills. The turn-key kitchen includes all equipment. A large, central bar is present, which would be ideal for a tap house or wine bar. The parking lot has 35+ parking spots. The location has consistently produced over $800,000 in gross sales while only being open seasonally. The building size is 4,960 square feet. The property neighbors Firehouse Campground & Cabins. Note that only the real estate is for sale; the business is not included.
Key Highlights
- Location boasts a proven track record of $800,000+ in gross sales operating seasonally.
- Turn‑key kitchen with all equipment included.
- Restaurant building completely remodeled in 2018.
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $89.3k | $18.00 |
| − Vacancy | −$5.4k | −$1.08 |
| EGI | $83.9k | $16.92 |
| − OpEx | −$21.0k | −$4.23 |
| NOI | $62.9k | $12.69 |
4,960 SF · lease $18.00/SF/yr · vacancy 6.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$899.2K
$786.8K – $1.05M
NOI $62,942 @ 7.0% cap · market cap 7.00%
Second Best
Retail
$821.4K
$718.7K – $958.3K
NOI $57,496 @ 7.0% cap · market cap 6.40%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
34
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- The Prairie Dog Food Truck — 23845 US-385, Hill City, SD 57745
Frequently Asked Questions
What type of property is this?
Restaurant - Remodeled restaurant with outdoor patio near Black Hills attractions.
Where is this restaurant located?
The property is located at 23858 Hwy 385 Hill City, SD.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Location boasts a proven track record of $800,000+ in gross sales operating seasonally.; Turn‑key kitchen with all equipment included.; Restaurant building completely remodeled in 2018.
