Mixed-Use Brewery and Event
23851 HWY 385, Hill City, SD 57745
For Sale
Contact for pricing
A taproom, tasting room, kitchen, apartments, and creekside pavilion support several commercial components on one site.
Property Size8,580 SF
Lot Size1.01 Acres
Price / SF$268.07
Days on Market32
Property Features for 23851 HWY 385
General Information
Standard status
Size
Lot size
Property subtype
Financials
Asking Price
Business Included
Site & Location
Traffic Count
Highway Access
Road Access
Utilities to Site
Tenancy & Operations
Currently Operating
Tenant in Place
Additional Details
Furnished
Equipment Included
Amenities
covered pavilion
Building Details
Buildings
Listing Agency:
Keller Williams Realty-SF
Listed By:
Stephanie Ouellette · License #22216
Source:
Crexi
Added: Oct 9
Changed: Nov 8
Last Checked: Nov 8 at 2:30PM
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 Keller Williams Realty-SF
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Investment Insights
Based on property information with market context.
This mixed-use property includes approximately 8,580 square feet across a 6,180-square-foot main level and two apartments of about 1,200 square feet each. The ground floor is configured as three separately metered commercial bays, with a taproom, tasting room, wine bar, two indoor bars, kitchen, brewhouse, and offices. Furniture and brewing and restaurant equipment are included. Three-phase power serves the building, and the apartments are leased.
A covered 30-by-40-foot pavilion sits behind the building beside Spring Creek, providing additional space for events and seating. The 1.01-acre property fronts US-16/385, about 3 miles northeast of downtown Hill City. SD DOT reports approximately 6,349 vehicles per day passing the site. The highway serves travel between the Black Hills communities and attractions identified in the property information.
A covered 30-by-40-foot pavilion sits behind the building beside Spring Creek, providing additional space for events and seating. The 1.01-acre property fronts US-16/385, about 3 miles northeast of downtown Hill City. SD DOT reports approximately 6,349 vehicles per day passing the site. The highway serves travel between the Black Hills communities and attractions identified in the property information.
Key Highlights
- Approximately 8,580 SF building on 1.01 acres
- 6,180 SF main level divided into three separately metered commercial bays
- Two apartments of approximately 1,200 SF each, both currently leased
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$108,880
Cap Rate
4.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,177,600
$2.2M
Cap Rate 7%
$1,555,429
$1.6M
Cap Rate 9%
$1,209,778
$1.2M
Market Conditions
NOI Build-Up for 8,580 SF
Gross rent
$154.4K $18.00/SF
− Vacancy
−$9.3K −$1.08/SF
EGI
$145.2K $16.92/SF
− OpEx
−$36.3K −$4.23/SF
NOI
$108.9K $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 Rate 5%
$2,177,600
Cap Rate 7%
$1,555,429
Cap Rate 9%
$1,209,778
Alternative Uses
Best Use
Specialty Retail
$1.56M
$1.36M – $1.81M
NOI $108,880 @ 7.0% cap · market cap 4.73%
Second Best
Mixed Use
$1.05M
$915.0K – $1.22M
NOI $73,198 @ 7.0% cap · market cap 3.18%
Theoretical Best
—
—
same as Best Use
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
Lease Details
6,349 VPD
Traffic count
Turnkey business
Opportunity
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
37
Businesses Nearby
Explore this area
Business Placement
Demographics for 57745, SD
2,078
Population
941
Households
2.2
Avg Household Size
53
Median Age
34%
College-Educated
98%
High-School Grad
385.0 sq mi
ZIP Area
5
Density / Sq Mi
$90,089
Median Household Income
$36,154
Median Earnings
$1,016
Median Rent
$323,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - A taproom, tasting room, kitchen, apartments, and creekside pavilion support several commercial components on one site.
Where is this mixed-use property located?
The property is located at 23851 HWY 385 Hill City, SD.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: Approximately 8,580 SF building on 1.01 acres; 6,180 SF main level divided into three separately metered commercial bays; Two apartments of approximately 1,200 SF each, both currently leased
