Flex Space with Secure
For Sale
$2,200,000
1711 Centre St, Rapid City, SD 57703
Light Industrial property combines renovated administrative areas with heated shop space and a partially fenced gravel yard.
Property Size6,638 SF
Lot Size4.37 Acres
Price / SF$331.43
Days on Market54
Property Features for 1711 Centre St
General Information
Standard status
Active
Size
6,638 SF
Lot size
4.37 Acres
Zoning
Light Industrial
Site & Location
Fenced Yard
Yes
Outdoor Storage
Yes
Warehouse & Industrial
Warehouse Space
4,708 SF
Office Build-Out
1,428 SF
Amenities
front office waiting area
mezzanine breakroom
Building Details
Year Renovated
2026
Buildings
1
Building Size
6,638 SF
Listing Agency:
Coldwell Banker Black Hills Legacy Real Estate
(605) 343-2700
Listed By:
Gary Peot
(605) 593-3086
Source:
Exprealty
Added: Aug 27
Changed: Oct 1
Last Checked: Oct 16 at 12:40PM
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 Coldwell Banker Black Hills Legacy Real Estate
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Investment Insights
Based on property information with market context.
This Flex space property includes a light industrial building with heated warehouse, shop, and garage areas, along with office accommodations, restrooms, and a mezzanine breakroom overlooking the shop floor. Office areas, restrooms, and the mezzanine received renovations in early 2026. A front waiting area and three flexible work zones support day-to-day administrative functions.
The property encompasses 4.37 acres arranged as three plated parcels. Exterior improvements include a large gravel parking and staging area with partial fencing for equipment or fleet storage. Light Industrial zoning supports the property’s commercial and operational setting, while the combination of enclosed work areas, offices, and yard space provides a range of functional configurations.
The property encompasses 4.37 acres arranged as three plated parcels. Exterior improvements include a large gravel parking and staging area with partial fencing for equipment or fleet storage. Light Industrial zoning supports the property’s commercial and operational setting, while the combination of enclosed work areas, offices, and yard space provides a range of functional configurations.
Key Highlights
- 4.37‑acre property arranged as three separate plated parcels
- Light Industrial zoning
- Heated warehouse, shop, and garage areas
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$63,476
Cap Rate
2.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,269,520
$1.3M
Cap Rate 7%
$906,800
$906.8K
Cap Rate 9%
$705,289
$705.3K
Market Conditions
NOI Build-Up for 6,638 SF
Gross rent
$99.6K $15.00/SF
− Vacancy
−$14.9K −$2.25/SF
EGI
$84.6K $12.75/SF
− OpEx
−$21.2K −$3.19/SF
NOI
$63.5K $9.56/SF
Area
Pennington County, SD
Vacancy
15.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,269,520
Cap Rate 7%
$906,800
Cap Rate 9%
$705,289
Alternative Uses
Best Use
Office B
$906.8K
$793.5K – $1.06M
NOI $63,476 @ 7.0% cap · market cap 2.89%
Second Best
Flex RnD
$832.1K
$728.1K – $970.8K
NOI $58,248 @ 7.0% cap · market cap 2.65%
Theoretical Best
Specialty Retail
$1.20M
$1.05M – $1.40M
NOI $84,236 @ 7.0% cap · market cap 3.83%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
345
Businesses Nearby
Balanced
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - Light Industrial property combines renovated administrative areas with heated shop space and a partially fenced gravel yard.
Where is this flex space located?
The property is located at 1711 Centre St Rapid City, SD.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: 4.37‑acre property arranged as three separate plated parcels; Light Industrial zoning; Heated warehouse, shop, and garage areas
