Multi-Level Office
For Sale
$375,000
328 E New York St, Rapid City, SD 57701
Office property with multiple suites, private offices, storage areas, reception space, and on-site parking.
Property Size3,102 SF
Price / SF$120.89
Days on Market54
Property Features for 328 E New York St
General Information
Standard status
Active
Size
3,102 SF
Building Details
Buildings
1
Listing Agency:
RE/MAX RESULTS
Listed By:
TONY HENSLEY
(605) 391-2825
Source:
Exprealty
Added: Sep 14
Changed: Nov 3
Last Checked: Nov 4 at 7:11PM
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 RE/MAX RESULTS
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Investment Insights
Based on property information with market context.
This multi-level office building at 328 E New York St includes several distinct office configurations. The main office features a reception area, waiting area, large private office, and substantial storage. Suite 2 provides four offices plus attic storage, while Suite 3 spans two levels and contains three offices.
The property is positioned just east of downtown Rapid City and north of the Swim Center. On-site parking supports the building, and the layout offers a combination of reception, waiting, private office, and storage areas. Previous occupants have included attorneys, legal service providers, and a massage therapist.
The property is positioned just east of downtown Rapid City and north of the Swim Center. On-site parking supports the building, and the layout offers a combination of reception, waiting, private office, and storage areas. Previous occupants have included attorneys, legal service providers, and a massage therapist.
Key Highlights
- Multi‑level office building with several suite configurations
- Main office includes reception, waiting area, private office, and storage
- Suite 2 has 4 offices and attic storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,663
Cap Rate
7.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$593,260
$593.3K
Cap Rate 7%
$423,757
$423.8K
Cap Rate 9%
$329,589
$329.6K
Market Conditions
NOI Build-Up for 3,102 SF
Gross rent
$46.5K $15.00/SF
− Vacancy
−$7.0K −$2.25/SF
EGI
$39.6K $12.75/SF
− OpEx
−$9.9K −$3.19/SF
NOI
$29.7K $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%
$593,260
Cap Rate 7%
$423,757
Cap Rate 9%
$329,589
Alternative Uses
Best Use
Office B
$423.8K
$370.8K – $494.4K
NOI $29,663 @ 7.0% cap · market cap 7.91%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$562.3K
$492.1K – $656.1K
NOI $39,364 @ 7.0% cap · market cap 10.50%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Current Use
Location Intelligence
Trade Area within ½ mile
693
Businesses Nearby
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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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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office building - Office property with multiple suites, private offices, storage areas, reception space, and on-site parking.
Where is this office building located?
The property is located at 328 E New York St Rapid City, SD.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Multi‑level office building with several suite configurations; Main office includes reception, waiting area, private office, and storage; Suite 2 has 4 offices and attic storage
