Highway-Frontage Mixed-Use
3963 E Hwy 44, Rapid City, SD 57703
For Sale
New
$475,000
A remodeled residence, substantial shop space, and a partially heated garage support a range of live-work configurations.
Property Size1,540 SF
Lot Size0.85 Acres
Price / SF$308.44
Days on Market2
Property Features for 3963 E Hwy 44
General Information
Standard status
Size
Lot size
Property subtype
Site & Location
Highway Access
Road Access
Utilities to Site
Amenities
Block,Crawl Space
0.85
Listing Agency:
eXp Realty
(605) 453-5592
Listed By:
Steve Kulmala
Source:
Southdakotaproperties
Added: Nov 12
Changed: Nov 13
Last Checked: Nov 13 at 2:04AM
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 eXp Realty
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Investment Insights
Based on property information with market context.
This commercially zoned property combines a remodeled three-bedroom, two-bath home with substantial accessory space. The residence has new flooring and paint, an open kitchen, walk-in closets, and a walk-in pantry; it currently operates as a vacation rental. A covered deck extends the living area outdoors. The 0.85-acre site also includes a 30-by-40-foot insulated shop with a 6-inch concrete floor, a 24-by-48-foot partially heated garage, and three garden sheds. City water and a 36-inch cased private well serve the property.
Located on Highway 44 in Rapid City, the property has more than 300 feet of highway frontage. It is 6 miles west of the Regional Airport and minutes from downtown. The shop has previously been rented to a plumbing business.
Located on Highway 44 in Rapid City, the property has more than 300 feet of highway frontage. It is 6 miles west of the Regional Airport and minutes from downtown. The shop has previously been rented to a plumbing business.
Key Highlights
- 0.85‑acre commercially zoned property with more than 300 feet of frontage on Highway 44
- Remodeled 3‑bedroom, 2‑bath residence currently operating as a vacation rental
- 30' x 40' insulated shop with a 6‑inch poured concrete floor
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,726
Cap Rate
3.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$294,520
$294.5K
Cap Rate 7%
$210,371
$210.4K
Cap Rate 9%
$163,622
$163.6K
Market Conditions
NOI Build-Up for 1,540 SF
Gross rent
$23.1K $15.00/SF
− Vacancy
−$3.5K −$2.25/SF
EGI
$19.6K $12.75/SF
− OpEx
−$4.9K −$3.19/SF
NOI
$14.7K $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%
$294,520
Cap Rate 7%
$210,371
Cap Rate 9%
$163,622
Alternative Uses
Best Use
Office B
$210.4K
$184.1K – $245.4K
NOI $14,726 @ 7.0% cap · market cap 3.10%
Second Best
Mixed Use
$187.7K
$164.2K – $219.0K
NOI $13,138 @ 7.0% cap · market cap 2.77%
Theoretical Best
Specialty Retail
$279.2K
$244.3K – $325.7K
NOI $19,543 @ 7.0% cap · market cap 4.11%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
144
Businesses Nearby
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Business Placement
Demographics for 57703, SD
16,933
Population
7,476
Households
2.3
Avg Household Size
37
Median Age
21%
College-Educated
92%
High-School Grad
129.8 sq mi
ZIP Area
130
Density / Sq Mi
$84,495
Median Household Income
$41,342
Median Earnings
$1,394
Median Rent
$250,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - A remodeled residence, substantial shop space, and a partially heated garage support a range of live-work configurations.
Where is this mixed-use property located?
The property is located at 3963 E Hwy 44 Rapid City, SD.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 0.85‑acre commercially zoned property with more than 300 feet of frontage on Highway 44; Remodeled 3‑bedroom, 2‑bath residence currently operating as a vacation rental; 30' x 40' insulated shop with a 6‑inch poured concrete floor
