Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Rapid City Medical Office Suite Title is generated by Realmo AI

    2001 7th Street, Rapid City, SD 57701

    View on Map
    Claim this Listing
    For Lease
    $1.00 SF/Yr $60/Mo (calc)

    CI Land w/Building - Rapid City, SD

    Property size:
    720 SF
    Lot size:
    0.32 Acres
    Added:
    Apr 14, 2026
    Days on Market:
    36
    Last Refresh:
    May 19 at 9:06 pm

    Property Features for 2001 7th Street

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Parking features
    Parking Lot, Paved or Surfaced
    Standard status
    Active
    Size
    720 SF
    Lot size
    0.32 Acres

    Utilities

    Heating system
    Forced Air, Natural Gas

    Building Details

    Year built
    1965
    Floors in Building
    2
    Architectural style
    Other

    We can help!

    Listing Contact
    Christopher Long

    Listing agent Christopher Long

    Listing office Keller Williams Realty Black Hills RC 2401 W Main Street, Rapid City, SD

    Listing date Apr 14, 2026

    MLS# 88210 Listing URL

    Copyright © 2026 Mt. Rushmore Area Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Central Rapid City location near Mount Rushmore Road and St. Patrick Street
    • $1,400/month with utilities included
    • Functional 720 SF suite suitable for medical, therapy, or wellness users
    • Dedicated exterior entrance
    • Recent improvements including updated flooring, lighting, roof, and parking lot
    • ADA‑accessible entry for patients and visitors

    Overview

    This 720 square foot medical office suite is available for lease in a central Rapid City location, situated off Mount Rushmore Road near St. Patrick Street. The suite features a functional layout that includes a mix of private offices and open workspace. It is well-suited for medical, therapy, or wellness practices. Access to the suite is provided through a dedicated exterior entrance, and shared men’s and women’s restrooms are available. The building also features an ADA-accessible entry for patients and visitors. Recent improvements to the property include updated flooring, interior lighting, and fresh exterior paint. Major upgrades have also been completed, including a new roof and parking lot asphalt. The property is located on a 0.32-acre lot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    PT-OT Professionals Physician Active At Any Age ... Gym & Fitness Center Cassandra Garver Physician Mr. Karl Kirsch Physician Kelly Chocholousek Physician

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Noah's Ark Animal Hospital, LLC — 1315 Mt Rushmore Rd, Rapid City, SD 57701
    • Karagenix — Rapid City, SD 57701
    • Country Vet — Rapid City, SD 57702

    Location Insight

    • Map
    • Local Demand
    City
    Rapid City
    County
    Pennington
    State
    South Dakota
    Longitude
    -103.2304811
    Latitude
    44.0663507

    Nearby Similar for Lease

    • $1.00 SF/Yr
      18,480 SF

      Rapid City Industrial Facility For Lease

      Industrial facility with warehouse, office, showroom, and secured yard.
      2340 Taggart Rd, Rapid City, SD 57701
      View Details
    • $1.00 SF/Yr
      3,400 SF

      Rapid City Office Space Available

      Flexible office suites near Mount Rushmore Road in Rapid City.
      1010 9th Street, Rapid City, SD 57701
      View Details
    • $1.00 SF/Yr
      12,080 SF

      Rapid City Industrial Warehouse For Lease

      12,080 SF warehouse on 2.73 acres available for lease.
      2720 E Hwy 44, Rapid City, SD 57703
      View Details
    • $1.00 SF/Yr
      1,600 SF

      Rapid City Office Space Available

      Flexible office space near Mount Rushmore Road in Rapid City.
      1010 9th Street, Rapid City, SD 57701
      View Details
    • $1.00 SF/Yr
      1,800 SF

      Rapid City Office Space Available

      Functional office space with private offices and reception area.
      1010 9th Street, Rapid City, SD 57701
      View Details
    • $1.00 SF/Yr
      7,200 SF

      Rapid City Industrial Space Available

      7,200 SF industrial space for lease in Rapid City, SD.
      3201 Beale Street, Rapid City, SD 57702
      View Details
    • $1.00 SF/Yr
      20,028 SF

      Freestanding Commercial Building on Haines Avenue

      Freestanding commercial building on a primary retail corridor.
      2130 Haines Avenue, Rapid City, SD 57701
      View Details
    • $1.00 SF/Yr
      1,920 SF

      Rapid City Industrial Shop Space

      Small-bay industrial shop space with quick access to I-90.
      3515 Seger Drive, Rapid City, SD 57701
      View Details
    • $1.00 SF/Yr
      6,000 SF

      Prime Rapid City Lease Opportunity

      High-traffic location suitable for retail, restaurant, or office.
      1002 W Main Street, Rapid City, SD 57701
      View Details
    • $1.00 SF/Yr
      3,000 SF

      Prime Rapid City Build-to-Suit Opportunity

      High-traffic Rapid City location for retail, office, or restaurant.
      1002 W Main Street, Rapid City, SD 57701
      View Details
    • $1.00 SF/Yr
      13,568 SF

      Industrial Warehouse Near Highway 44

      13,568 SF industrial warehouse with office space for lease.
      940 Kennel Dr, Rapid City, SD 57703
      View Details
    • $1.00 SF/Yr
      2,634 SF

      Creekside Professional Office Space

      Office space for lease in well-maintained business park.
      2620 Jackson Boulevard, Rapid City, SD 57702
      View Details

    FAQs

    What type of property is this?
    Medical Office Space - 720 SF medical office suite in central Rapid City.
    Where is this medical office space located?
    The property is located at 2001 7th Street Rapid City, SD.
    What is the lease rate?
    The lease rate is $1.00 SF/Yr.
    What are key features of this property?
    This property features: Central Rapid City location near Mount Rushmore Road and St. Patrick Street; $1,400/month with utilities included; Functional 720 SF suite suitable for medical, therapy, or wellness users
    (605) 343-7500
    We can help!
    Listing Contact
    Christopher Long
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2001 7th Street, Rapid City, SD 57701
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!