Freestanding Former Hardee’s
New
For Sale
Contact for pricing
2250 Haines Avenue, Rapid City, SD 57701
Commercial-corridor site includes on-site parking, convenient access, and a pylon sign.
Property Size4,391 SF
Lot Size1.51 Acres
Price / SF$284.67
Days on Market6
Property Features for 2250 Haines Avenue
General Information
Standard status
Active
Size
4,391 SF
Lot size
1.51 Acres
Property subtype
Retail
Additional Details
Pylon Signage
Yes
Building Details
Year Built
1991
Buildings
1
Stories
1
Listing Agency:
Duemelands Commercial Real Estate
(701) 221-2222
Listed By:
Jill Duemeland · License #ND 7141
Source:
Crexi
Added: Aug 26
Changed: Aug 31
Last Checked: Aug 31 at 9:52AM
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 Duemelands Commercial Real Estate
Investment Insights
Based on property information with market context.
This freestanding restaurant property contains 4,391 square feet on a 1.51-acre site and was constructed in 1991. The building formerly operated as a Hardee’s, offering an existing restaurant-oriented layout for continued food-service use or repositioning.
The property is located at 2250 Haines Avenue in Rapid City, South Dakota, along a commercial corridor with established retail, restaurant, and service businesses nearby. Site access is convenient, and on-site parking and a pylon sign support customer arrival and property identification.
The property is located at 2250 Haines Avenue in Rapid City, South Dakota, along a commercial corridor with established retail, restaurant, and service businesses nearby. Site access is convenient, and on-site parking and a pylon sign support customer arrival and property identification.
Key Highlights
- 4,391 SF freestanding former Hardee’s restaurant building
- 1.51‑acre site in Rapid City, SD
- Constructed in 1991
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$55,722
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.46%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,114,440
$1.1M
Cap Rate 7%
$796,029
$796.0K
Cap Rate 9%
$619,133
$619.1K
Market Conditions
NOI Build-Up for 4,391 SF
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.
Gross rent
$79.0K $18.00/SF
− Vacancy
−$4.7K −$1.08/SF
EGI
$74.3K $16.92/SF
− OpEx
−$18.6K −$4.23/SF
NOI
$55.7K $12.69/SF
Area
Pennington County, SD
Vacancy
6.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,114,440
Cap Rate 7%
$796,029
Cap Rate 9%
$619,133
Alternative Uses
Best Use
Specialty Retail
$796.0K
$696.5K – $928.7K
NOI $55,722 @ 7.0% cap · market cap 4.46%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
496
Businesses Nearby
381k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 37%
Shops & Services 19%
Apparel 18%
Home Improvements & Furnishings 14%
Kohl's
Apparel
36,250 visits/mo
0.3 miles
Texas Roadhouse
Dining
35,737 visits/mo
0.5 miles
Lowe's
Home Improvements & Furnishings
32,711 visits/mo
0.2 miles
Best Buy
Electronics
31,336 visits/mo
0.0 miles
Olive Garden
Dining
29,972 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
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Commercial-corridor site includes on-site parking, convenient access, and a pylon sign.
Where is this conventional restaurant located?
The property is located at 2250 Haines Avenue Rapid City, SD.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 4,391 SF freestanding former Hardee’s restaurant building; 1.51‑acre site in Rapid City, SD; Constructed in 1991
