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New Industrial Development For Sale

3460 Jet Dr, Rapid City, SD 57703

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For Sale

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New 24,000 SF industrial development near I-90.

Type:Industrial

Property size:

24,000 SF

Price / SF:

$120/SF

HighLights

New 24,000 SF light industrial development in active lease‑up
Projected gross potential rent of $282,000 at stabilization
Located near I‑90 Exit 61 in Rapid City's Elk Vale industrial corridor
Four 6,000 SF warehouse buildings designed for multi‑tenant use and demisable into 2,000 SF units
Each unit includes 16’ sidewalls, a 14’ x 14’ overhead door, heated interior space, and a private restroom
NNN lease structures and remaining lease‑up capacity create a clear path to stabilized income

We can help!

Contact an agent

Dan Logan

For Sale

Contact for pricing

New 24,000 SF industrial development near I-90.

Type:Industrial

Property size:

24,000 SF

Price / SF:

$120/SF

Added:: Mar 2, 2026
Days on Market:: 125
Last Refresh:: Mar 16 at 2:00 pm

Property Features for 3460 Jet Dr

General Information

Standard status: Active
Size: 24,000 SF
Property subtype: Industrial

Building Details

Year Built: 2025

We can help!

Contact an agent

Dan Logan

Listing office Keller Williams Realty Black Hills

Listing date Mar 2, 2026

Source Crexi

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

HighLights

New 24,000 SF light industrial development in active lease‑up
Projected gross potential rent of $282,000 at stabilization
Located near I‑90 Exit 61 in Rapid City's Elk Vale industrial corridor
Four 6,000 SF warehouse buildings designed for multi‑tenant use and demisable into 2,000 SF units
Each unit includes 16’ sidewalls, a 14’ x 14’ overhead door, heated interior space, and a private restroom
NNN lease structures and remaining lease‑up capacity create a clear path to stabilized income

Overview

This newly constructed 24,000 SF light industrial development is designed for multi-tenant use. The property consists of four 6,000 SF warehouse buildings, each demisable into 2,000 SF units. Each unit includes 16’ sidewalls, a 14’ x 14’ overhead door, heated interior space, and a private restroom. The site supports semitruck circulation, paved parking, and optional gravel yard areas. Located near I-90 Exit 61 (Elk Vale Road / SD-79) within Rapid City’s established Elk Vale industrial corridor, the property provides convenient interstate access for local and regional users. The property is currently in active lease-up with strong tenant demand and projected gross potential rent of $282,000 at stabilization. NNN lease structures and remaining lease-up capacity create a clear path to stabilized income with additional upside through future yard or lot utilization.

Local Financial Insights For Warehouse

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$207.4k	$8.64
− Vacancy	−$12.0k	−$0.50
EGI	$195.3k	$8.14
− OpEx	−$29.3k	−$1.22
NOI	$166.0k	$6.92

24,000 SF · lease $8.64/SF/yr · vacancy 5.80% · expense 15.00%

Alternative Uses

Best Use

Warehouse

$2.37M

$2.08M – $2.77M (±1% cap)

NOI $166,033 @ 7.0% cap · market cap 5.73%

Second Best

Industrial

$1.75M

$1.53M – $2.04M (±1% cap)

NOI $122,522 @ 7.0% cap · market cap 4.22%

Theoretical Best

Specialty Retail

$4.35M

$3.81M – $5.08M (±1% cap)

NOI $304,560 @ 7.0% cap · market cap 10.50%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Warehouses

Suggested Use

Similar Places Nearby

Elk Vale Storage — 4049 Homestead St, Rapid City, SD 57703
Storage City Self Storage — 1450 Concourse Dr, Rapid City, SD 57703
Go Mini's — 2720 SD-44, Rapid City, SD 57703
AAction Movers — 2720 SD-44, Rapid City, SD 57703

Location Insight

Map
Local Demand

City: Rapid City
County: Pennington
State: South Dakota
Longitude: -103.1595058
Latitude: 44.0745921

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For sale
Warehouses
SD
Rapid City
57703
3460 Jet Dr

What type of property is this?

Warehouse - New 24,000 SF industrial development near I-90.

Where is this warehouse located?

The property is located at 3460 Jet Dr Rapid City, SD.

What is the asking price?

The asking price for this property is $2,900,000.

What are key features of this property?

This property features: New 24,000 SF light industrial development in active lease‑up; Projected gross potential rent of $282,000 at stabilization; Located near I‑90 Exit 61 in Rapid City's Elk Vale industrial corridor