Historic Office Building with Upstairs
For Sale
$284,900
1204 Mt Rushmore Rd, Rapid City, SD 57701
A 1,440 SF office building with main-level office and meeting space, plus an upstairs area with its own full bath.
Property Size1,440 SF
Price / SF$197.85
Days on Market18
Property Features for 1204 Mt Rushmore Rd
General Information
Standard status
Active
Size
1,440 SF
Property subtype
Commercial
Zoning
Office Commercial
Additional Details
Traffic Count
24,498 vehicles/day
Building Details
Year Built
1883
Stories
2
Listing Agency:
CENTURY 21 CLEARVIEW REALTY
(605) 721-1257
Listed By:
Seth Malott · License #997
Source:
Willdixonrealestate
Added: Jul 16
Changed: Jul 17
Last Checked: Aug 2 at 3:47AM
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 CENTURY 21 CLEARVIEW REALTY
Investment Insights
Based on property information with market context.
Built in 1883, this historic brick office building preserves its original stone foundation and layered brick construction, while incorporating modern updates throughout. The roof, gutters, electrical, and plumbing have been updated, and the interior features hardwood floors, custom trim, updated bathrooms, and a granite-countertop kitchenette. The property includes natural gas forced-air heat, central cooling, and a partial basement, and it offers 1,056 square feet of main-level office and meeting space. Upstairs includes a versatile area with its own full bath.
The building is zoned Office Commercial and located on a high-visibility stretch of Mt. Rushmore Road, with off-street parking available. Public remarks estimate 24,498 vehicles passing daily.
While the property is historic due to its age and significance, public remarks note it is not currently listed on the National Register and not within the local historic district.
The building is zoned Office Commercial and located on a high-visibility stretch of Mt. Rushmore Road, with off-street parking available. Public remarks estimate 24,498 vehicles passing daily.
While the property is historic due to its age and significance, public remarks note it is not currently listed on the National Register and not within the local historic district.
Key Highlights
- 1,440 SF office building with 1,056 SF of main‑level office and meeting space
- Upstairs area includes its own full bath for added flexibility
- Office Commercial zoning with natural gas forced‑air heat and central cooling
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 | $21.6k | $15.00 |
| − Vacancy | −$3.2k | −$2.25 |
| EGI | $18.4k | $12.75 |
| − OpEx | −$4.6k | −$3.19 |
| NOI | $13.8k | $9.56 |
1,440 SF · lease $15.00/SF/yr · vacancy 15.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$196.7K
$172.1K – $229.5K
NOI $13,770 @ 7.0% cap · market cap 4.83%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$261.1K
$228.4K – $304.6K
NOI $18,274 @ 7.0% cap · market cap 6.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
24,498 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
1,298
Businesses Nearby
Explore this area
Business Placement
Demographics for 57701, SD
46,258
Population
20,526
Households
2.3
Avg Household Size
36
Median Age
28%
College-Educated
93%
High-School Grad
52.2 sq mi
ZIP Area
886
Density / Sq Mi
$52,733
Median Household Income
$34,971
Median Earnings
$892
Median Rent
$229,900
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?
Office building - A 1,440 SF office building with main-level office and meeting space, plus an upstairs area with its own full bath.
Where is this office building located?
The property is located at 1204 Mt Rushmore Rd Rapid City, SD.
What is the asking price?
The asking price for this property is $284,900.
What are key features of this property?
This property features: 1,440 SF office building with 1,056 SF of main‑level office and meeting space; Upstairs area includes its own full bath for added flexibility; Office Commercial zoning with natural gas forced‑air heat and central cooling
