Flex Space with Heated
504 E North, Rapid City, SD 57701
For Sale
$360,000
A private office and restroom accompany the heated shop and secure outdoor storage area.
Property Size1,809 SF
Price / SF$199
Days on Market49
Property Features for 504 E North
General Information
Standard status
Size
Property subtype
Additional Details
Outdoor Storage
Office Build-Out
Listing Agency:
RE/MAX ADVANTAGE
Listed By:
Kelly Howie
(605) 209-0474
Source:
Willdixonrealestate
Added: Sep 26
Changed: Nov 4
Last Checked: Nov 12 at 4:48AM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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
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
