Two-Story Office Building with
330 KNOLLWOOD Rapid City, SD 57701
330 KNOLLWOOD, Rapid City, SD, 57701
$1,185,000
For Sale
$1,185,000
5,992 SF office building with two levels, parking for 40-plus vehicles, and updated exterior improvements.
Property Size5,992 SF
Price / SF$197.76
Days on Market694
Property Features for 330 KNOLLWOOD
General Information
- Standard status
- Active
- Size
- 5,992 SF
- Property subtype
- Office
Listing agency
KELLER WILLIAMS REALTY BLACK HILLS
(605) 343-7500
Listed by
CHRISTOPHER LONG
Source
Xome
Added: Aug 27, 2024 Updated: Jul 21 at 4:14AM Checked: Jul 21 at 4:14AM
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 highly visible two-story office building offers a total of 5,992 SF across a main level and a lower level, with a layout designed for flexible occupancy. The main level includes six offices, open workspace suitable for cubicles, a reception area, a meeting room, and a kitchen. The lower level provides a similar configuration with six offices, open workspace, reception, a meeting room, and additional storage. Both levels have direct access to the parking lot, supporting the option to occupy one floor while leasing the other. Office furniture and workstations currently in the building may be included with the sale.
The property is described as offering excellent access to I-90 Exit 56 and Haines Avenue. It also features newly repaved parking with over 40 spaces. Exterior updates include a new roof, fascia, gutters, downspouts, siding, an exterior deck, and a rear entrance door.
The property is described as offering excellent access to I-90 Exit 56 and Haines Avenue. It also features newly repaved parking with over 40 spaces. Exterior updates include a new roof, fascia, gutters, downspouts, siding, an exterior deck, and a rear entrance door.
Key Highlights
- 5,992 SF office building with two levels, each offering a similar office layout
- Main level includes 6 offices, open workspace, reception, meeting room, and kitchen
- Lower level includes 6 offices, open workspace, reception, meeting room, and additional storage
Local 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 | $89.9k | $15.00 |
| − Vacancy | −$13.5k | −$2.25 |
| EGI | $76.4k | $12.75 |
| − OpEx | −$19.1k | −$3.19 |
| NOI | $57.3k | $9.56 |
5,992 SF · lease $15.00/SF/yr · vacancy 15.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$818.6K
$716.2K – $955.0K
NOI $57,299 @ 7.0% cap · market cap 4.84%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.09M
$950.5K – $1.27M
NOI $76,038 @ 7.0% cap · market cap 6.42%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Heartland Home Health ...
Home Health Care Service
Similar For Sale Nearby
FAQs
What type of property is this?
Office building - 5,992 SF office building with two levels, parking for 40-plus vehicles, and updated exterior improvements.
Where is this office building located?
The property is located at 330 KNOLLWOOD Rapid City, SD.
What is the asking price?
The asking price for this property is $1,185,000.
What are key features of this property?
This property features: 5,992 SF office building with two levels, each offering a similar office layout; Main level includes 6 offices, open workspace, reception, meeting room, and kitchen; Lower level includes 6 offices, open workspace, reception, meeting room, and additional storage
