Flex Space with Shop
New
For Sale
$1,390,000
301 Main St, Rapid City, SD 57701
A downtown corner property combines dedicated office areas with warehouse and workshop space.
Property Size6,326 SF
Lot Size0.32 Acres
Price / SF$219.73
Days on Market6
Property Features for 301 Main St
General Information
Standard status
Active
Size
6,326 SF
Lot size
0.32 Acres
Property subtype
Commercial
Warehouse & Industrial
Warehouse Space
2,800 SF
Office Build-Out
1,763 SF
Drive-In Doors
3
Additional Details
Property Use
Office/Warehouse
Building Details
Year Built
1984
Stories
2
Listing Agency:
THE REAL ESTATE GROUP, INC.
Listed By:
John Roberts · License #1456
(352) 816-7026
Source:
Willdixonrealestate
Added: Oct 26
Last Checked: Oct 30 at 11:21AM
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.
Built by Morton Buildings in 1984, this flex property has 6,326 square feet across two floors on a 0.32-acre parcel. The main level includes 1,763 square feet of office space and 2,800 square feet of shop area, with two bathrooms, a shower, a break room, and storage. Three 14-foot overhead doors serve the shop. The 1,763-square-foot upper floor adds a private office, a bathroom, and a separate entrance from the alley.
The property occupies a corner in downtown Rapid City. Its layout brings office and industrial space together within one building.
The property occupies a corner in downtown Rapid City. Its layout brings office and industrial space together within one building.
Key Highlights
- 6,326‑square‑foot flex property on a 0.32‑acre parcel
- Main floor includes 1,763 sq ft of office space and 2,800 sq ft of shop area
- Three 14‑foot overhead doors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$55,511
Cap Rate
3.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,110,220
$1.1M
Cap Rate 7%
$793,014
$793.0K
Cap Rate 9%
$616,789
$616.8K
Market Conditions
NOI Build-Up for 6,326 SF
Gross rent
$94.9K $15.00/SF
− Vacancy
−$9.5K −$1.50/SF
EGI
$85.4K $13.50/SF
− OpEx
−$29.9K −$4.73/SF
NOI
$55.5K $8.78/SF
Area
Pennington County, SD
Vacancy
10.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,110,220
Cap Rate 7%
$793,014
Cap Rate 9%
$616,789
Alternative Uses
Best Use
Flex RnD
$793.0K
$693.9K – $925.2K
NOI $55,511 @ 7.0% cap · market cap 3.99%
Second Best
Warehouse
$625.2K
$547.1K – $729.4K
NOI $43,764 @ 7.0% cap · market cap 3.15%
Theoretical Best
Specialty Retail
$1.15M
$1.00M – $1.34M
NOI $80,277 @ 7.0% cap · market cap 5.78%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
3
Drive-in doors
Location Intelligence
Trade Area within ½ mile
2,129
Businesses Nearby
Well-served
Demand for This Use
Explore this area
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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Market
Vacancy Rate% for Industrial in Midwest region
Similar Off Market Nearby
- Anything's Possible Catering — 1405 Mt Rushmore Rd, Rapid City, SD 57701
- Et-i-quette Catering Co — 521 7th St, Rapid City, SD 57701
- Angel's Catering — 1109 w omaha st d, rapid city, sd 57701
- DS CATERING — Nikko St, Rapid City, SD 57701
Frequently Asked Questions
What type of property is this?
Flex space - A downtown corner property combines dedicated office areas with warehouse and workshop space.
Where is this flex space located?
The property is located at 301 Main St Rapid City, SD.
What is the asking price?
The asking price for this property is $1,390,000.
What are key features of this property?
This property features: 6,326‑square‑foot flex property on a 0.32‑acre parcel; Main floor includes 1,763 sq ft of office space and 2,800 sq ft of shop area; Three 14‑foot overhead doors
