Flex Space with Secured
For Sale
Contact for pricing
29 Main St, Rapid City, SD 57701
Shop and administrative areas are combined, with outdoor storage and parking on site.
Property Size3,516 SF
Days on Market234
Property Features for 29 Main St
General Information
Standard status
Active
Size
3,516 SF
Amenities
four overhead doors
two service bays
two storage bays
fenced yard
Listing Agency:
KELLER WILLIAMS REALTY BLACK HILLS
Listed By:
GINA PLOOSTER · License #SD 16979
(605) 519-0749
Source:
Exprealty
Added: Mar 18
Changed: Nov 4
Last Checked: Nov 4 at 2:13PM
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 BLACK HILLS
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Investment Insights
Based on property information with market context.
At 29 Main St in Rapid City, this 3,516-SF flex property combines 2,262 SF of shop area with 1,254 SF of office space. The shop includes four overhead doors, two service bays and two storage bays. Office amenities comprise two open workrooms and two restrooms, with a basement below the office area for storage. A fenced yard provides outdoor space for vehicles or equipment, and parking is available on the property and along the street.
The property sits at the corner of Main Street and 1st Street in downtown Rapid City. Its mix of workspace, administrative areas and secured outdoor storage supports operations needing both indoor and yard space.
The property sits at the corner of Main Street and 1st Street in downtown Rapid City. Its mix of workspace, administrative areas and secured outdoor storage supports operations needing both indoor and yard space.
Key Highlights
- 3,516 SF total, with 2,262 SF of shop and 1,254 SF of office space
- Four overhead doors, two service bays and two storage bays
- Office area has two open workrooms, two restrooms and a basement
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,950
Suggested Prices Based on Cap Rates
Cap Rate 5%
$359,000
$359.0K
Cap Rate 7%
$256,429
$256.4K
Cap Rate 9%
$199,444
$199.4K
Market Conditions
NOI Build-Up for 3,516 SF
Gross rent
$27.4K $7.80/SF
− Vacancy
−$1.8K −$0.51/SF
EGI
$25.6K $7.29/SF
− OpEx
−$7.7K −$2.19/SF
NOI
$17.9K $5.11/SF
Area
Pennington County, SD
Vacancy
6.50%
Lease Rate
$7.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$359,000
Cap Rate 7%
$256,429
Cap Rate 9%
$199,444
Alternative Uses
Best Use
Retail
$582.2K
$509.5K – $679.3K
NOI $40,757 @ 7.0% cap · market cap 4,075,700.00%
Second Best
Flex RnD
$440.8K
$385.7K – $514.2K
NOI $30,853 @ 7.0% cap · market cap 3,085,300.00%
Theoretical Best
Specialty Retail
$637.4K
$557.7K – $743.6K
NOI $44,618 @ 7.0% cap · market cap 4,461,800.00%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,274
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
Similar Off Market Nearby
- Et-i-quette Catering Co — 521 7th St, Rapid City, SD 57701
Frequently Asked Questions
What type of property is this?
Flex space - Shop and administrative areas are combined, with outdoor storage and parking on site.
Where is this flex space located?
The property is located at 29 Main St Rapid City, SD.
What are key features of this property?
This property features: 3,516 SF total, with 2,262 SF of shop and 1,254 SF of office space; Four overhead doors, two service bays and two storage bays; Office area has two open workrooms, two restrooms and a basement
