Rapid City Assisted Living
For Sale
$5,000,000
1321 Columbus Street, Rapid City, SD 57701
48-bed assisted living facility in Rapid City, South Dakota.
Property Size21,895 SF
Lot Size1.64 Acres
Price / SF$228.36
Days on Market195
Property Features for 1321 Columbus Street
General Information
Standard status
Active
Size
21,895 SF
Lot size
1.64 Acres
Property subtype
Healthcare
Listed By:
Chessa Pike
(917) 280-6612
Source:
Cbre
Added: Mar 25
Changed: Sep 29
Last Checked: Oct 4 at 7:20AM
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 Chessa Pike
Investment Insights
Based on property information with market context.
The property at 1321 Columbus is located in Rapid City. It is designed as a three-wing facility centered by a common area, dining space, and kitchen. The single-story facility includes 48 identical beds with in-suite bathrooms. Situated on 1.64 acres, the property has space for expansion. Onsite amenities include laundry facilities, a hair salon, and office space for staff. Rapid City is the second most populous city in South Dakota and the county seat of Pennington County. It is located in western South Dakota, on the Black Hills’ eastern slope.
Key Highlights
- Well‑designed single‑story facility with 48 identical beds and in‑suite bathrooms.
- Located in Rapid City, the second most populous city in South Dakota.
- Sits on 1.64 acres with area for expansion.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$155,374
Cap Rate
3.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,107,480
$3.1M
Cap Rate 7%
$2,219,629
$2.2M
Cap Rate 9%
$1,726,378
$1.7M
Market Conditions
NOI Build-Up for 21,895 SF
Gross rent
$294.3K $13.44/SF
− Vacancy
−$11.8K −$0.54/SF
EGI
$282.5K $12.90/SF
− OpEx
−$127.1K −$5.81/SF
NOI
$155.4K $7.10/SF
Area
Pennington County, SD
Vacancy
4.00%
Lease Rate
$13.44 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,107,480
Cap Rate 7%
$2,219,629
Cap Rate 9%
$1,726,378
Alternative Uses
Best Use
Apartment 5plus
$2.22M
$1.94M – $2.59M
NOI $155,374 @ 7.0% cap · market cap 3.11%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.97M
$3.47M – $4.63M
NOI $277,848 @ 7.0% cap · market cap 5.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,458
Businesses Nearby
Well-served
Demand for This Use
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
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Similar Off Market Nearby
- ROSE MANOR Senior Care — 1611 Mountain View Rd, Rapid City, SD 57702
- Victorian Assisted Living — 1321 Columbus St, Rapid City, SD 57701
- Home Instead — 710 Mt Rushmore Rd, Rapid City, SD 57701
- Golden Living Center — 1301 W Omaha St # 219, Rapid City, SD 57701
Frequently Asked Questions
What type of property is this?
Assisted living facility - 48-bed assisted living facility in Rapid City, South Dakota.
Where is this assisted living facility located?
The property is located at 1321 Columbus Street Rapid City, SD.
What is the asking price?
The asking price for this property is $5,000,000.
What are key features of this property?
This property features: Well‑designed single‑story facility with 48 identical beds and in‑suite bathrooms.; Located in Rapid City, the second most populous city in South Dakota.; Sits on 1.64 acres with area for expansion.
