Industrial Warehouse with Office
For Sale
$1,575,000
940 Kennel Dr, Rapid City, SD 57703
Industrial warehouse with multiple loading options, office build-out, and exterior storage for flexible manufacturing use.
Property Size13,568 SF
Lot Size2.23 Acres
Price / SF$116.08
Days on Market488
Property Features for 940 Kennel Dr
General Information
Standard status
Active
Size
13,568 SF
Lot size
2.23 Acres
Warehouse & Industrial
Dock-High Doors
5
Drive-In Doors
1
Heavy Power
Yes
Additional Details
Highway Access
Yes
Listing Agency:
KELLER WILLIAMS REALTY BLACK HILLS
(605) 939-4489
Listed By:
CHRISTOPHER LONG
(605) 939-4489
Source:
Exprealty
Added: Apr 2, 2025
Changed: Jul 10
Last Checked: Jul 31 at 12:02PM
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
Investment Insights
Based on property information with market context.
This industrial property includes 10,400 SF of warehouse space and 3,168 SF of finished office area within a single facility. The office portion is built out with a conference room, break area, lab, locker room, and open work area. Warehouse operations are supported by five exterior loading docks, including four 9' x 8' dock doors with bumpers and one 9' x 10' dock door, plus an 8' x 10' drive-in overhead door. The property is also described as having infrastructure to support large refrigeration bays, and it includes 3-phase power with an 800-amp panel.
The building is located just off Highway 44 near Western Dakota Tech, with access to Elk Vale Road/Hwy 16 Bypass and Campbell Street/Hwy 79. It sits on a 2.23-acre lot with ample outdoor storage, providing room for equipment staging or storage needs.
Designed for hands-on industrial users, the combination of loading capacity, office/lab improvements, and heavy electrical service supports manufacturing-oriented tenants and operators. Prior use is noted as US Foods and most recently for wine production, with refrigeration-related infrastructure available for buyers evaluating food or temperature-controlled workflows.
The building is located just off Highway 44 near Western Dakota Tech, with access to Elk Vale Road/Hwy 16 Bypass and Campbell Street/Hwy 79. It sits on a 2.23-acre lot with ample outdoor storage, providing room for equipment staging or storage needs.
Designed for hands-on industrial users, the combination of loading capacity, office/lab improvements, and heavy electrical service supports manufacturing-oriented tenants and operators. Prior use is noted as US Foods and most recently for wine production, with refrigeration-related infrastructure available for buyers evaluating food or temperature-controlled workflows.
Key Highlights
- 13,568 SF industrial warehouse on a 2.23‑acre lot with ample outdoor storage
- Warehouse includes 5 exterior loading docks: four 9' x 8' with bumpers plus one 9' x 10', and an 8' x 10' drive‑in overhead door
- 3,168 SF finished office space with conference room, break area, lab, locker room, and open work area
Financial Insights For Office B
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 | $203.5k | $15.00 |
| − Vacancy | −$30.5k | −$2.25 |
| EGI | $173.0k | $12.75 |
| − OpEx | −$43.2k | −$3.19 |
| NOI | $129.7k | $9.56 |
13,568 SF · lease $15.00/SF/yr · vacancy 15.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.85M
$1.62M – $2.16M
NOI $129,744 @ 7.0% cap · market cap 8.24%
Second Best
Warehouse
$1.34M
$1.17M – $1.56M
NOI $93,864 @ 7.0% cap · market cap 5.96%
Theoretical Best
Specialty Retail
$2.46M
$2.15M – $2.87M
NOI $172,178 @ 7.0% cap · market cap 10.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Dock-high doors
1
Drive-in doors
Yes
Heavy power
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
403
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 57703, SD
16,933
Population
7,476
Households
2.3
Avg Household Size
37
Median Age
21%
College-Educated
92%
High-School Grad
129.8 sq mi
ZIP Area
130
Density / Sq Mi
$84,495
Median Household Income
$41,342
Median Earnings
$1,394
Median Rent
$250,300
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Industrial warehouse with multiple loading options, office build-out, and exterior storage for flexible manufacturing use.
Where is this warehouse located?
The property is located at 940 Kennel Dr Rapid City, SD.
What is the asking price?
The asking price for this property is $1,575,000.
What are key features of this property?
This property features: 13,568 SF industrial warehouse on a 2.23‑acre lot with ample outdoor storage; Warehouse includes 5 exterior loading docks: four 9' x 8' with bumpers plus one 9' x 10', and an 8' x 10' drive‑in overhead door; 3,168 SF finished office space with conference room, break area, lab, locker room, and open work area
