Rapid City Assisted Living
1321 Columbus Street Rapid City, SD 57701
For Sale
$5,000,000
48-bed assisted living facility in Rapid City, South Dakota.
Property Size21,895 SF
Lot Size1.64 Acres
Price / SF$228.36
Days on Market128
Property Features for 1321 Columbus Street
General Information
Standard status
Active
Size
21,895 SF
Lot size
1.64 Acres
Property subtype
Healthcare
Listing Agency:
(917) 280-6612
Listed By:
Chessa Pike
(917) 280-6612
Source:
Cbre
Added: Mar 25
Changed: Jul 6
Last Checked: Jul 30 at 3:56AM
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 For Apartment 5plus
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 | $294.3k | $13.44 |
| − Vacancy | −$11.8k | −$0.54 |
| EGI | $282.5k | $12.90 |
| − OpEx | −$127.1k | −$5.81 |
| NOI | $155.4k | $7.10 |
21,895 SF · lease $13.44/SF/yr · vacancy 4.00% · expense 45.00%
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
Property Profile
Location Intelligence
Current Use
Similar Off Market Nearby
- Victorian Assisted Living — 1321 Columbus St, Rapid City, SD 57701
- Golden Living Center — 1301 W Omaha St # 219, Rapid City, SD 57701
- ROSE MANOR Senior Care — 1611 Mountain View Rd, Rapid City, SD 57702
- Home Instead — 710 Mt Rushmore Rd, 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.
