Office Building with
550 N FIFTH ST Rapid City, SD 57701
550 N FIFTH ST, Rapid City, SD, 57701
Contact for pricing
For Sale
Contact for pricing
Office building offers 58 suites, 2 conference rooms, and 60 onsite parking spaces, with monitored security and alarms.
Property Size13,232 SF
Price / SF$128.48
Days on Market57
Property Features for 550 N FIFTH ST
General Information
- Standard status
- Active
- Size
- 13,232 SF
- Property subtype
- Office
Building Details
- Year Built
- 2005
Listing agency
The Real Estate Group Inc
(605) 343-8800
Listed by
John Roberts · License #SD 15921
Source
Crexi
Added: May 26 Updated: Jul 20 at 6:58PM Checked: Jul 21 at 5:23AM
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 The Real Estate Group Inc
Investment Insights
Based on property information with market context.
This office building includes 58 office suites and two conference rooms, with six bathrooms. The property is equipped with a digital reader board, an internal and external motion-detected camera system, and an outside monitored burglar alarm. A fire alarm/sprinkler system is also in place. The offering includes the equipment and fixtures.
The property is located just north of the civic center. Onsite parking totals 60 spaces.
The building is currently 90% occupied, with four units occupied by the current owner. Additional financial information is available upon signing an NDA.
The property is located just north of the civic center. Onsite parking totals 60 spaces.
The building is currently 90% occupied, with four units occupied by the current owner. Additional financial information is available upon signing an NDA.
Key Highlights
- Built in 2005, office building with 58 office suites and 2 conference rooms
- Currently 90% occupied with 4 units occupied by the current owner
- On‑site parking for 60 vehicles
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $198.5k | $15.00 |
| − Vacancy | −$29.8k | −$2.25 |
| EGI | $168.7k | $12.75 |
| − OpEx | −$42.2k | −$3.19 |
| NOI | $126.5k | $9.56 |
13,232 SF · lease $15.00/SF/yr · vacancy 15.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.81M
$1.58M – $2.11M
NOI $126,531 @ 7.0% cap · market cap 7.44%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.40M
$2.10M – $2.80M
NOI $167,914 @ 7.0% cap · market cap 9.88%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
K C Video ...
Film Production
Little Miracles OT ...
Physician
Therapy Solutions
Physician
MassMutual Financial Group
Bank
Rapid City Law ...
Law Firm
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FAQs
What type of property is this?
Office building - Office building offers 58 suites, 2 conference rooms, and 60 onsite parking spaces, with monitored security and alarms.
Where is this office building located?
The property is located at 550 N FIFTH ST Rapid City, SD.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Built in 2005, office building with 58 office suites and 2 conference rooms; Currently 90% occupied with 4 units occupied by the current owner; On‑site parking for 60 vehicles
