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Historic Mixed-Use Property with Opera House
New
For Sale
$2,999,999

604 Main Street, Spearfish, SD 57783

Downtown property combines retail, dining, offices, apartments, entertainment space, and service-oriented suites in one multi-building asset.

Property Size63,000 SF
Price / SF$47.62
Days on Market2

Property Features for 604 Main Street

General Information

Standard status Active
Size 63,000 SF
Property subtype Commercial & Industrial

Amenities

multiple basements
attic storage
elevator

Building Details

Year Built 1900
Buildings 1
Tenancy Multi
Listing Agency: Joyner Fine Properties
Listed By: Bill Phillips · License #0225105604
Source: Sturgisrealestatecenter.idxbroker
Added: Sep 9 Last Checked: Sep 9 at 3:23PM

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 Joyner Fine Properties

Investment Insights

Based on property information with market context.

The Kelley Block is a mixed-use property comprising approximately 63,000 square feet across street-level retail, restaurant, professional office, service, residential, and entertainment spaces. The property includes the Matthews Opera House, a dance hall, multiple basements, attic storage, an elevator, and tenant parking. Apartments and commercial suites have received extensive updates, while the three roof sections are covered by an 80-mil PVC membrane system. Electrical work, rooftop HVAC gas lines, and sewer improvements are also in place.

Located in downtown Spearfish at 604–630 N Main Street, the property supports a varied tenant roster, including occupants with decades of tenure. Revenue sources include the building’s commercial and residential spaces along with an AT&T rooftop communications lease. Financial records, leases, floor plans, and additional property documentation are available to qualified buyers.

Key Highlights

  • Approximately 63,000 square feet of mixed‑use space
  • Matthews Opera House and dance hall included within the property
  • Retail, restaurant, office, service, apartment, and entertainment spaces

Property Analytics

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Current Use

V Rae's Boutique Clothing Store

Suggested Use

Top Pick Parking Lot & Garage HVAC Service Grocery & Convenience Store Plumbing Service (Bike/Boat/Book/etc) Store Veterinary Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Multi-tenant
Tenancy

Location Intelligence

Trade Area within ½ mile

886
Businesses Nearby
38k
Monthly Visits Nearby

Foot Traffic Nearby

Shops & Services 54% Dining 44% Hotels & Casinos 2%
Loaf 'N Jug Shops & Services
8,256 visits/mo 0.2 miles
Exxon Shops & Services
6,899 visits/mo 0.4 miles
Taco John's Dining
5,827 visits/mo 0.3 miles
Arby's Dining
5,540 visits/mo 0.2 miles
Papa Murphy's Dining
3,322 visits/mo 0.2 miles

Demographics for 57783, SD

16,165
Population
8,347
Households
1.9
Avg Household Size
41
Median Age
40%
College-Educated
96%
High-School Grad
213.2 sq mi
ZIP Area
76
Density / Sq Mi
$64,970
Median Household Income
$35,014
Median Earnings
$946
Median Rent
$332,300
Median Home Value
Check the figures for this property Cap Rate, Value Estimation, Potential NOI and more
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Market

Vacancy Rate% for Retail in Midwest region

8% 2020
7.3% 2021
6.5% 2022
6% 2023
5.7% 2024
6.3% 2025
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Frequently Asked Questions

What type of property is this?
Mixed-use property - Downtown property combines retail, dining, offices, apartments, entertainment space, and service-oriented suites in one multi-building asset.
Where is this mixed-use property located?
The property is located at 604 Main Street Spearfish, SD.
What is the asking price?
The asking price for this property is $2,999,999.
What are key features of this property?
This property features: Approximately 63,000 square feet of mixed‑use space; Matthews Opera House and dance hall included within the property; Retail, restaurant, office, service, apartment, and entertainment spaces
More about this property
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