Basement Retail
201 Main St, Rapid City, SD 57701
For Sale
Contact for pricing
A lower-level retail premises in a historic building is positioned near downtown Rapid City.
Property Size4,740 SF
Days on Market699
Property Features for 201 Main St
General Information
Standard status
Size
Listing Agency:
TRUE NORTH ASSET GROUP
Listed By:
SHANNON BRINKER · License SD #17047
(605) 415-7222
Source:
Exprealty
Added: Dec 12, 2024
Changed: Nov 8
Last Checked: Nov 8 at 5:34PM
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 TRUE NORTH ASSET GROUP
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 4,740-square-foot retail space occupies the basement of the historic Fairmont Creamery building. Its lower-level setting distinguishes the premises within the building.
The property is at 201 Main St, at the corner of Main and 2nd Street, east of downtown Rapid City. The Ascent Center is nearby.
The property is at 201 Main St, at the corner of Main and 2nd Street, east of downtown Rapid City. The Ascent Center is nearby.
Key Highlights
- 4,740‑square‑foot retail premises in the basement of the Fairmont Creamery building
- Corner location at Main and 2nd Street
- East of downtown Rapid City
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$54,946
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,098,920
$1.1M
Cap Rate 7%
$784,943
$784.9K
Cap Rate 9%
$610,511
$610.5K
Market Conditions
NOI Build-Up for 4,740 SF
Gross rent
$85.3K $18.00/SF
− Vacancy
−$6.8K −$1.44/SF
EGI
$78.5K $16.56/SF
− OpEx
−$23.5K −$4.97/SF
NOI
$54.9K $11.59/SF
Area
Pennington County, SD
Vacancy
8.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,098,920
Cap Rate 7%
$784,943
Cap Rate 9%
$610,511
Alternative Uses
Best Use
Retail
$784.9K
$686.8K – $915.8K
NOI $54,946 @ 7.0% cap
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$859.3K
$751.9K – $1.00M
NOI $60,151 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,757
Businesses Nearby
49k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 69%
Dining 13%
Hotels & Casinos 10%
Beauty & Spa 4%
Holiday Station Store
Shops & Services
24,071 visits/mo
0.3 miles
Hardee's
Dining
6,431 visits/mo
0.3 miles
U.S. Bank
Shops & Services
5,747 visits/mo
0.5 miles
Hyatt Place
Hotels & Casinos
4,916 visits/mo
0.3 miles
Sola Salon Studios
Beauty & Spa
1,862 visits/mo
0.3 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Retail space - A lower-level retail premises in a historic building is positioned near downtown Rapid City.
Where is this retail space located?
The property is located at 201 Main St Rapid City, SD.
What are key features of this property?
This property features: 4,740‑square‑foot retail premises in the basement of the Fairmont Creamery building; Corner location at Main and 2nd Street; East of downtown Rapid City
