Multi-Room Medical Office
For Sale
Contact for pricing
4040 Cheyenne Blvd, Rapid City, SD 57703
Reception, eight enclosed rooms, and an in-suite kitchenette support a range of professional services.
Property Size1,615 SF
Days on Market248
Property Features for 4040 Cheyenne Blvd
General Information
Standard status
Active
Size
1,615 SF
Site & Location
Highway Access
Yes
Road Access
Yes
Listing Agency:
KELLER WILLIAMS REALTY BLACK HILLS
Listed By:
GINA PLOOSTER · License #SD 16979
(605) 519-0749
Source:
Exprealty
Added: Mar 4
Changed: Nov 4
Last Checked: Nov 4 at 2:22PM
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 1,615-square-foot medical office suite includes a reception area, eight private offices or treatment rooms, and an in-suite kitchenette. Its multi-room layout accommodates a range of service configurations, including medical, wellness, salon, counseling, and specialty services.
The suite is attached to Baymont by Wyndham and is near other national hotel brands and Watiki Waterpark Resort. Elk Vale Road traffic is reported at 20,689 vehicles per day, based on 2024 MPO data. The property is also near I-90 Exit 61.
The suite is attached to Baymont by Wyndham and is near other national hotel brands and Watiki Waterpark Resort. Elk Vale Road traffic is reported at 20,689 vehicles per day, based on 2024 MPO data. The property is also near I-90 Exit 61.
Key Highlights
- 1,615‑square‑foot suite with reception and 8 private offices or treatment rooms
- In‑suite kitchenette
- Attached to Baymont by Wyndham, near other national hotel brands and Watiki Waterpark Resort
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,443
Suggested Prices Based on Cap Rates
Cap Rate 5%
$308,860
$308.9K
Cap Rate 7%
$220,614
$220.6K
Cap Rate 9%
$171,589
$171.6K
Market Conditions
NOI Build-Up for 1,615 SF
Gross rent
$24.2K $15.00/SF
− Vacancy
−$3.6K −$2.25/SF
EGI
$20.6K $12.75/SF
− OpEx
−$5.1K −$3.19/SF
NOI
$15.4K $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%
$308,860
Cap Rate 7%
$220,614
Cap Rate 9%
$171,589
Alternative Uses
Best Use
Healthcare Medical
$266.0K
$232.7K – $310.3K
NOI $18,619 @ 7.0% cap · market cap 1,861,900.00%
Second Best
Office B
$220.6K
$193.0K – $257.4K
NOI $15,443 @ 7.0% cap · market cap 1,544,300.00%
Theoretical Best
Specialty Retail
$292.8K
$256.2K – $341.6K
NOI $20,494 @ 7.0% cap · market cap 2,049,400.00%
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
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
179
Businesses Nearby
Well-served
Demand for This Use
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Medical Office Space - Reception, eight enclosed rooms, and an in-suite kitchenette support a range of professional services.
Where is this medical office space located?
The property is located at 4040 Cheyenne Blvd Rapid City, SD.
What are key features of this property?
This property features: 1,615‑square‑foot suite with reception and 8 private offices or treatment rooms; In‑suite kitchenette; Attached to Baymont by Wyndham, near other national hotel brands and Watiki Waterpark Resort
