Versatile Commercial Property For
1202 East Saint Francis Street, Rapid City, SD 57701
11,600 SF building with office and industrial space.
Type:IND, IND-WHSE, OFC
Property size:
11,600 SFLot size:
0.80 AcresPrice / SF:
$107/SF- Added:
- Mar 25, 2025
- Days on Market:
- 425
- Last Refresh:
- Apr 3 at 4:59 am
Property Features for 1202 East Saint Francis Street
General Information
- Standard status
- Active
- Size
- 11,600 SF
- Lot size
- 0.80 Acres
- Property subtype
- IND, IND-WHSE, OFC
Building Details
- Year Built
- 1997
Listing agent Chris Long License #14881 (605) 335-8100
Listing office KW Commercial | Black Hills (605) 335-8100
Listing date Mar 25, 2025
Source Realnex
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 Commercial | Black Hills
HighLights
- 11,600 SF building with a combination of office and industrial space.
- Central location with flexible layout suitable for various business operations.
- Over 2,500 SF of warehouse space with a 10’x12’ overhead door.
- .80‑acre lot with neighboring vacant lots providing expansion or additional parking opportunities.
- Large event room on the main level and another gathering space on the second level.
- Includes 7 individual offices, conference room, and men’s and women’s restrooms.
Overview
This commercial property offers functionality and room to grow. The 11,600 SF building sits on 0.80 acres and combines office and industrial space. The interior features open space with over 2,500 SF of warehouse area, accessed by a 10’x12’ overhead door. It includes a large event room on the main level and another gathering space on the second level, along with 7 individual offices, storage space, a conference room, and men’s and women’s restrooms. The parking lot has 20 parking spaces, and neighboring vacant lots provide opportunity for expansion or additional parking. The flexible layout and central location make this property well-suited for a variety of business operations.
Financial Insights
Value Estimation Calculated for Office B
Conservative
$1.23M
NOI $110,925 @ 9.00% cap · cautious / downside scenario
Moderate
$1.58M
NOI $110,925 @ 7.00% cap · market / base-case scenario
Aggressive
$2.22M
NOI $110,925 @ 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 Office B
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $174.0k | $15.00 |
| − Vacancy | −$26.1k | −$2.25 |
| EGI | $147.9k | $12.75 |
| − OpEx | −$37.0k | −$3.19 |
| NOI | $110.9k | $9.56 |
11,600 SF · lease $15.00/SF/yr · vacancy 15.00% · expense 25.00%
Alternative Use Scenarios
Best Use
Office B
$1.58M
$1.39M – $1.85M
NOI $110,925 @ 7.0% cap · market cap 8.87%
Second Best
Flex RnD
$1.45M
$1.27M – $1.70M
NOI $101,790 @ 7.0% cap · market cap 8.14%
Theoretical Best
Specialty Retail
$2.10M
$1.84M – $2.45M
NOI $147,204 @ 7.0% cap · market cap 11.78%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Flex space
Location Insight
- Map
- Local Demand
- City
- Rapid City
- County
- Pennington
- State
- South Dakota
- Longitude
- -103.195942
- Latitude
- 44.066763
Nearby Similar for Sale
FAQs
What type of property is this?
Flex space - 11,600 SF building with office and industrial space.
Where is this flex space located?
The property is located at 1202 East Saint Francis Street Rapid City, SD.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 11,600 SF building with a combination of office and industrial space.; Central location with flexible layout suitable for various business operations.; Over 2,500 SF of warehouse space with a 10’x12’ overhead door.
