Multi-Tenant Flex Business
For Sale
$3,249,000
5626 Fargo Ln, Rapid City, SD
Conventional construction, heated zero-entry entrances, rear access, and separate utility metering support practical commercial operations.
Property Size17,400 SF
Price / SF$186.72
Days on Market188
Property Features for 5626 Fargo Ln
General Information
Standard status
Active
Size
17,400 SF
Occupancy
100%
Site & Location
Road Access
Yes
Utilities to Site
Yes
Additional Details
Office Units
10
Amenities
security cameras
landscaped drip system
heated zero entry entrances
Building Details
Buildings
1
Building Size
17,400 SF
Tenancy
Multi
Listing Agency:
CENTURY 21 CLEARVIEW REALTY
(605) 641-3465
Listed By:
BRIAN GILL
(605) 641-3465
Source:
Exprealty
Added: Jan 29
Changed: Jul 31
Last Checked: Jul 31 at 1:48PM
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 CENTURY 21 CLEARVIEW REALTY
Investment Insights
Based on property information with market context.
This 17,400-square-foot flex property is configured as a 10-unit Business Park with 100% occupancy. Each unit includes heated concrete zero-entry front entrances, 14-foot ceilings, a 12-foot overhead door, an additional rear entrance, and front and rear off-street parking. The property was constructed conventionally with 2x8 walls and is described as well insulated and energy efficient. Gas and electric services are metered separately, and the landscaped areas include a drip irrigation system.
The property is located near the medical facilities around Monument Health Hospital, in the area known as the “Medical Mile,” and is approximately 1/2 mile from the Stumer Rd. Walmart. Six of the 10 tenants are medical-related businesses, and 15 security cameras cover the exterior. The configuration supports continued multi-tenant occupancy or partial rental income for an owner occupant.
The property is located near the medical facilities around Monument Health Hospital, in the area known as the “Medical Mile,” and is approximately 1/2 mile from the Stumer Rd. Walmart. Six of the 10 tenants are medical-related businesses, and 15 security cameras cover the exterior. The configuration supports continued multi-tenant occupancy or partial rental income for an owner occupant.
Key Highlights
- 17,400 SF flex property configured as a 10‑unit Business Park
- 100% occupancy with six medical‑related businesses among the 10 tenants
- 14‑foot ceilings, 12‑foot overhead doors, and additional rear entrances
Financial Insights For Healthcare Medical
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 | $365.4k | $21.00 |
| − Vacancy | −$31.1k | −$1.79 |
| EGI | $334.3k | $19.22 |
| − OpEx | −$133.7k | −$7.69 |
| NOI | $200.6k | $11.53 |
17,400 SF · lease $21.00/SF/yr · vacancy 8.50% · expense 40.00%
Alternative Uses
Best Use
Healthcare Medical
$2.87M
$2.51M – $3.34M
NOI $200,605 @ 7.0% cap · market cap 6.17%
Second Best
Office B
$2.38M
$2.08M – $2.77M
NOI $166,388 @ 7.0% cap · market cap 5.12%
Theoretical Best
Specialty Retail
$3.15M
$2.76M – $3.68M
NOI $220,806 @ 7.0% cap · market cap 6.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
10
Office units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,328
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
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- DS CATERING — Nikko St, Rapid City, SD 57701
Frequently Asked Questions
What type of property is this?
Flex space - Conventional construction, heated zero-entry entrances, rear access, and separate utility metering support practical commercial operations.
Where is this flex space located?
The property is located at 5626 Fargo Ln Rapid City, SD.
What is the asking price?
The asking price for this property is $3,249,000.
What are key features of this property?
This property features: 17,400 SF flex property configured as a 10‑unit Business Park; 100% occupancy with six medical‑related businesses among the 10 tenants; 14‑foot ceilings, 12‑foot overhead doors, and additional rear entrances
