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    475 Villa Drive Box Elder, SD 57719

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    Move-in ready 1,800 SF office space in a busy location.

    Type:SCR
    Property size:
    1,800 SF
    Added:
    May 24, 2022
    Days on Market:
    1416
    Last Refresh:
    Apr 3 at 4:55 am

    Property Features for 475 Villa Drive

    General Information

    Standard status
    Active
    Size
    1,800 SF
    Property subtype
    SCR

    Spaces For Lease

    at 475 Villa Drive Contact us

    We can help!

    Listing Contact
    Gina Plooster

    Listing agent Gina Plooster

    Listing office KW Commercial | Black Hills

    Listing date May 24, 2022

    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

    Overview

    Finished Office in High-Traffic Center

    This finished 1,800 SF office space is located in a high-traffic strip center on Liberty Blvd. The efficient layout includes 4 large offices, each measuring either 12x13 or 12x16, along with a central collaborative area suitable for tech, engineering, or therapy purposes. The space is move-in ready and features a front reception area, kitchenette, and in-unit restroom. The location benefits from high traffic and is anchored by Pizza Hut, the Fortune Box Casino, and Barber Hub. It is also situated close to Ellsworth AFB and the I-90/Liberty Blvd exit. The lease is offered at $2,976.00 per month, which equates to $14.50 per square foot per year, plus $5.34 NNN, in addition to utilities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

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

    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
    -103.0629052
    Latitude
    44.131372

    Nearby Similar for Lease

    • $1.00/mo

      New Industrial Warehouse in Box Elder

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    • $1.00/mo

      Finished Office in High-Traffic Center

      Move-in ready office space in a busy Box Elder location.
      475 Villa Drive, Box Elder, SD 57719
      View Details
    • $1.00/mo

      Retail Space in Box Elder

      New construction retail space with drive-thru opportunity.
      441 N Ellsworth Road, Box Elder, SD 57719
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    • Contact for pricing

      Premium Strip Center Unit Available

      2,181 SF suite in high-traffic strip center.
      475 Villa Dr, Box Elder, SD 57719
      View Details

    FAQs

    What type of property is this?
    Office units - Move-in ready 1,800 SF office space in a busy location.
    Where is this office units located?
    The property is located at 475 Villa Drive Box Elder, SD.
    What are key features of this property?
    This property features: High‑traffic location on Liberty Blvd, anchored by established businesses.; Move‑in ready, finished 1,800 SF office space.; Efficient layout with **4 large offices** and a central collaborative area.
    (605) 519-0749
    We can help!
    Listing Contact
    Gina Plooster
    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.

    More about this property
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