Multi-Suite Office
For Sale
Contact for pricing
2693 Commerce Rd, Rapid City, SD 57702
The primary suite has five private offices, a kitchenette, a customer waiting area and three bathrooms.
Property Size2,500 SF
Days on Market86
Property Features for 2693 Commerce Rd
General Information
Standard status
Active
Size
2,500 SF
Listing Agency:
THE REAL ESTATE GROUP, INC.
Listed By:
TERESA LARSON
(605) 431-6156
Source:
Exprealty
Added: Aug 13
Changed: Nov 3
Last Checked: Nov 4 at 5:42PM
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 THE REAL ESTATE GROUP, INC.
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Investment Insights
Based on property information with market context.
Unit A spans 2,500 square feet and includes five private offices, a waiting area that can also serve as showroom space, a kitchenette and three bathrooms. A separate 1,300-square-foot Unit AA provides four additional private offices.
Water, sewer and parking-lot snow removal are included. Occupants are responsible for electric, gas, garbage service and internet.
Water, sewer and parking-lot snow removal are included. Occupants are responsible for electric, gas, garbage service and internet.
Key Highlights
- Unit A measures approximately 2,500 sq ft and includes five private offices
- Separate Unit AA provides approximately 1,300 sq ft and four private offices
- Unit A has a waiting area/showroom, kitchenette and three bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,906
Suggested Prices Based on Cap Rates
Cap Rate 5%
$478,120
$478.1K
Cap Rate 7%
$341,514
$341.5K
Cap Rate 9%
$265,622
$265.6K
Market Conditions
NOI Build-Up for 2,500 SF
Gross rent
$37.5K $15.00/SF
− Vacancy
−$5.6K −$2.25/SF
EGI
$31.9K $12.75/SF
− OpEx
−$8.0K −$3.19/SF
NOI
$23.9K $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%
$478,120
Cap Rate 7%
$341,514
Cap Rate 9%
$265,622
Alternative Uses
Best Use
Office B
$341.5K
$298.8K – $398.4K
NOI $23,906 @ 7.0% cap · market cap 2,390,600.00%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$453.2K
$396.6K – $528.8K
NOI $31,725 @ 7.0% cap · market cap 3,172,500.00%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
365
Businesses Nearby
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Business Placement
Demographics for 57702, SD
33,162
Population
16,786
Households
2
Avg Household Size
46
Median Age
48%
College-Educated
98%
High-School Grad
285.8 sq mi
ZIP Area
116
Density / Sq Mi
$85,700
Median Household Income
$44,214
Median Earnings
$1,209
Median Rent
$341,400
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office unit - The primary suite has five private offices, a kitchenette, a customer waiting area and three bathrooms.
Where is this office unit located?
The property is located at 2693 Commerce Rd Rapid City, SD.
What are key features of this property?
This property features: Unit A measures approximately 2,500 sq ft and includes five private offices; Separate Unit AA provides approximately 1,300 sq ft and four private offices; Unit A has a waiting area/showroom, kitchenette and three bathrooms
