Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    115 W Hudson Street Spearfish, SD 57783

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $595,000

    Remodeled commercial property in downtown Spearfish with office and retail space.

    Type:Commercial/Industrial
    Property size:
    2,926 SF
    Added:
    Aug 21, 2024
    Days on Market:
    606
    Last Refresh:
    Apr 16 at 9:12 pm

    Property Features for 115 W Hudson Street

    General Information

    Standard status
    Active
    Size
    2,926 SF
    Property subtype
    Commercial/Industrial

    Building Details

    Year Built
    1920

    We can help!

    Listing Contact
    Kari J Engen
    Kari J Engen

    Listing agent Kari J Engen

    Listing office The Real Estate Center of Spearfish

    Listing date Aug 21, 2024

    Source Exitrealty

    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 The Real Estate Center of Spearfish

    Overview

    Remodeled Downtown Spearfish Commercial Property

    This property is located in downtown Spearfish. The main level features office space, open retail space, a kitchen, and a soundproof room suitable for podcast, video, or music production. The upper level could function as an open office suite or be leased for use as meeting space or for small gatherings. It includes a kitchenette and views overlooking downtown. The property has been remodeled. The total property size is 2926 square feet.
    Location Intelligence

    Current Use by Public Records

    Great Peaks Realty Real Estate Agency Black Hills Information ... IT Consulting Firm Interior Impressions Interior Design

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Spearfish
    County
    Lawrence
    State
    South Dakota
    Longitude
    -103.857965
    Latitude
    44.4888542

    Nearby Similar for Sale

    • $450,000

      Profitable Lawn Care Business Opportunity

      Established lawn care business with recurring revenue and long-term clients.
      3114 W Fairgrounds Loop, Spearfish, SD 57783
      View Details
    • $998,500
      2,400 SF

      Renovated Commercial Building in Spearfish

      High-visibility commercial building with tenants in place.
      747 Ames Avenue, Spearfish, SD 57783-9999
      View Details
    • $659,000
      4,305 SF

      Spearfish 5-Plex Investment Opportunity

      Five-unit apartment building in downtown Spearfish with high occupancy.
      314 5th Street, Spearfish, SD 57783
      View Details
    • $1,049,000
      3,000 SF

      New Commercial Garage in Spearfish

      3,000 sq ft commercial garage in Spearfish industrial corridor.
      3165 Venture Court, Spearfish, SD 57783
      View Details
    • $525,000
      2,100 SF

      New Multi-Use Industrial Building

      State-of-the-art industrial building with flexible space options for sale.
      3170 Venture Court, Spearfish, SD 57783
      View Details
    • $575,000
      3,782 SF

      Spearfish Duplex Opportunity with Garages

      Duplex opportunity near Spearfish with garages and spacious pole barn.
      262 Upper Valley Road, Spearfish, SD 57783
      View Details
    • $1,299,000
      9,600 SF

      Spearfish Commercial Building with Expansion Potential

      Established commercial building near I-90 with income and expansion potential.
      3103 E Fairgrounds Loop, Spearfish, SD 57783
      View Details
    • $749,000

      Established Landscaping Business Opportunity

      Successful landscaping business for sale in the Northern Black Hills.
      3225 Old Belle Road, Spearfish, SD 57783
      View Details
    • $900,000
      3,950 SF

      Spearfish Investment Property on Acreage

      Investment property with duplex, barn, and expansion potential on 1.62 acres.
      3225 Old Belle Road, Spearfish, SD 57785
      View Details
    • $600,000
      1,242 SF

      Retail Space with Creek Access

      Unique retail space with creek access and scenic views.
      2539 Yukon Way, Spearfish, SD 57783
      View Details
    • $3,600,000

      Picturesque Ranch Near Spearfish, SD

      91.55-acre ranch with meadows, timber, and creek near Spearfish.
      5410 Lazy Horse Lane, Spearfish, SD 57783
      View Details
    • $4,349,000

      Spearfish Duplex Investment Opportunity

      Income-producing duplexes with expansion potential in Spearfish, South Dakota.
      1931-1984 Russell Street, Spearfish, SD 57783
      View Details

    FAQs

    What type of property is this?
    Office units - Remodeled commercial property in downtown Spearfish with office and retail space.
    Where is this office units located?
    The property is located at 115 W Hudson Street Spearfish, SD.
    What is the asking price?
    The asking price for this property is $595,000.
    What are key features of this property?
    This property features: Prime downtown Spearfish location; Remodeled interior; Main level includes office space, open retail space, and kitchen
    (605) 641-0670
    We can help!
    Listing Contact
    Kari J Engen
    Kari J Engen
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!