Renovated Retail
For Sale
Contact for pricing
306 Main St, Rapid City, SD 57701
An open customer-facing layout includes dedicated storage and access to shared restrooms.
Property Size2,800 SF
Days on Market485
Property Features for 306 Main St
General Information
Standard status
Active
Size
2,800 SF
Amenities
open customer-facing floor plan
14' ceilings
interior columns
connected display areas
raised display area
dedicated storage room
shared restrooms
Listing Agency:
KELLER WILLIAMS REALTY BLACK HILLS
Listed By:
GINA PLOOSTER · License #SD 16979
(605) 519-0749
Source:
Exprealty
Added: Jul 10, 2025
Changed: Nov 1
Last Checked: Nov 4 at 1:57PM
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.
This 2,800-square-foot retail space pairs an open customer area with connected display sections and a raised area for merchandise or presentations. Interior columns and 14-foot ceilings shape the space, while new paint, carpet, and lighting reflect its recent renovation. A dedicated storage room and shared restrooms off a rear common hallway round out the configuration.
The property fronts Main Street in downtown Rapid City, with sidewalk access and on-street parking at the storefront. Additional public parking is nearby. Main Street traffic between 5th Street and East Boulevard is reported at 7,079 vehicles per day in the 2025 MPO count.
The property fronts Main Street in downtown Rapid City, with sidewalk access and on-street parking at the storefront. Additional public parking is nearby. Main Street traffic between 5th Street and East Boulevard is reported at 7,079 vehicles per day in the 2025 MPO count.
Key Highlights
- 2,800 square feet of retail and showroom space
- Renovated with new paint, carpet, and lighting
- 14‑foot ceilings and interior columns
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,458
Suggested Prices Based on Cap Rates
Cap Rate 5%
$649,160
$649.2K
Cap Rate 7%
$463,686
$463.7K
Cap Rate 9%
$360,644
$360.6K
Market Conditions
NOI Build-Up for 2,800 SF
Gross rent
$50.4K $18.00/SF
− Vacancy
−$4.0K −$1.44/SF
EGI
$46.4K $16.56/SF
− OpEx
−$13.9K −$4.97/SF
NOI
$32.5K $11.59/SF
Area
Pennington County, SD
Vacancy
8.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$649,160
Cap Rate 7%
$463,686
Cap Rate 9%
$360,644
Alternative Uses
Best Use
Retail
$463.7K
$405.7K – $541.0K
NOI $32,458 @ 7.0% cap · market cap 3,245,800.00%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$507.6K
$444.2K – $592.2K
NOI $35,532 @ 7.0% cap · market cap 3,553,200.00%
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
Location Intelligence
Trade Area within ½ mile
1,370
Businesses Nearby
158k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 66%
Groceries 21%
Shops & Services 12%
Hotels & Casinos 1%
McDonald's
Dining
36,042 visits/mo
0.4 miles
Safeway
Groceries
33,834 visits/mo
0.4 miles
Culver's
Dining
19,487 visits/mo
0.5 miles
Exxon
Shops & Services
16,319 visits/mo
0.5 miles
Taco Bell
Dining
15,123 visits/mo
0.5 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Retail space - An open customer-facing layout includes dedicated storage and access to shared restrooms.
Where is this retail space located?
The property is located at 306 Main St Rapid City, SD.
What are key features of this property?
This property features: 2,800 square feet of retail and showroom space; Renovated with new paint, carpet, and lighting; 14‑foot ceilings and interior columns
