Flex Space with Heated
For Sale
$360,000
504 E North, Rapid City, SD 57701
A private office and restroom accompany the heated shop and secure outdoor storage area.
Property Size1,809 SF
Price / SF$199
Days on Market10
Property Features for 504 E North
General Information
Standard status
Active
Size
1,809 SF
Property subtype
Commercial
Additional Details
Outdoor Storage
Yes
Office Build-Out
810 SF
Listing Agency:
RE/MAX ADVANTAGE
Listed By:
Kelly Howie · License #217
(605) 209-0474
Source:
Willdixonrealestate
Added: Sep 26
Changed: Oct 3
Last Checked: Oct 4 at 7:06AM
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 ADVANTAGE
Investment Insights
Based on property information with market context.
At 504 E North in Rapid City, this flex property combines 810 Sq ft of reception and office space with a 1000 sq ft heated shop. The office area includes a private office and restroom, with a secure storage yard outside.
Paved off-street parking is available, along with two approaches and alley access. The property sits on a corner lot.
Paved off-street parking is available, along with two approaches and alley access. The property sits on a corner lot.
Key Highlights
- 1000 sq ft heated shop
- 810 Sq ft reception and office area with a private office and restroom
- Secure outdoor storage yard
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,874
Cap Rate
4.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$317,480
$317.5K
Cap Rate 7%
$226,771
$226.8K
Cap Rate 9%
$176,378
$176.4K
Market Conditions
NOI Build-Up for 1,809 SF
Gross rent
$27.1K $15.00/SF
− Vacancy
−$2.7K −$1.50/SF
EGI
$24.4K $13.50/SF
− OpEx
−$8.5K −$4.73/SF
NOI
$15.9K $8.78/SF
Area
Pennington County, SD
Vacancy
10.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$317,480
Cap Rate 7%
$226,771
Cap Rate 9%
$176,378
Alternative Uses
Best Use
Flex RnD
$226.8K
$198.4K – $264.6K
NOI $15,874 @ 7.0% cap · market cap 4.41%
Second Best
Industrial
$131.9K
$115.4K – $153.9K
NOI $9,235 @ 7.0% cap · market cap 2.57%
Theoretical Best
Specialty Retail
$327.9K
$287.0K – $382.6K
NOI $22,956 @ 7.0% cap · market cap 6.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
588
Businesses Nearby
Under-served
Demand for This Use
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Flex space - A private office and restroom accompany the heated shop and secure outdoor storage area.
Where is this flex space located?
The property is located at 504 E North Rapid City, SD.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: 1000 sq ft heated shop; 810 Sq ft reception and office area with a private office and restroom; Secure outdoor storage yard
