Downtown Retail
609 Saint Joseph St, Rapid City, SD 57701
For Sale
Contact for pricing
Approximately 2,000 square feet with rear parking for two to four vehicles.
Property Size2,000 SF
Price / SF$1.25
Days on Market81
Property Features for 609 Saint Joseph St
General Information
Standard status
Size
Additional Details
Utilities to Site
Listing Agency:
RE/MAX RESULTS
Listed By:
TREVOR JOHNSON · License SD #16886
(605) 431-2032
Source:
Exprealty
Added: Aug 25
Changed: Nov 12
Last Checked: Nov 12 at 2:17PM
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 RESULTS
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 2,000-square-foot retail space at 609 Saint Joseph St offers a commercial storefront in downtown Rapid City. The premises were previously occupied by a salon, and the property information describes potential use by a range of businesses.
Parking is available behind the building for two to four vehicles, with capacity depending on vehicle size. The lease is gross, with the tenant responsible for utilities and liability insurance.
Parking is available behind the building for two to four vehicles, with capacity depending on vehicle size. The lease is gross, with the tenant responsible for utilities and liability insurance.
Key Highlights
- 2,000‑square‑foot retail space in downtown Rapid City
- Rear parking accommodates 2–4 vehicles, depending on size
- Gross lease; tenant pays utilities and liability insurance
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,184
Suggested Prices Based on Cap Rates
Cap Rate 5%
$463,680
$463.7K
Cap Rate 7%
$331,200
$331.2K
Cap Rate 9%
$257,600
$257.6K
Market Conditions
NOI Build-Up for 2,000 SF
Gross rent
$36.0K $18.00/SF
− Vacancy
−$2.9K −$1.44/SF
EGI
$33.1K $16.56/SF
− OpEx
−$9.9K −$4.97/SF
NOI
$23.2K $11.59/SF
Area
Pennington County, SD
Vacancy
8.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$463,680
Cap Rate 7%
$331,200
Cap Rate 9%
$257,600
Alternative Uses
Best Use
Retail
$331.2K
$289.8K – $386.4K
NOI $23,184 @ 7.0% cap
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$362.6K
$317.3K – $423.0K
NOI $25,380 @ 7.0% cap
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
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,188
Businesses Nearby
52k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 36%
Dining 26%
Hotels & Casinos 22%
Electronics 9%
Wells Fargo
Shops & Services
7,068 visits/mo
0.3 miles
Hardee's
Dining
6,431 visits/mo
0.1 miles
The Rushmore Hotel & Suites, Bw Premier Collection
Hotels & Casinos
6,388 visits/mo
0.3 miles
U.S. Bank
Shops & Services
5,747 visits/mo
0.2 miles
Hyatt Place
Hotels & Casinos
4,916 visits/mo
0.0 miles
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 Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Retail space - Approximately 2,000 square feet with rear parking for two to four vehicles.
Where is this retail space located?
The property is located at 609 Saint Joseph St Rapid City, SD.
What are key features of this property?
This property features: 2,000‑square‑foot retail space in downtown Rapid City; Rear parking accommodates 2–4 vehicles, depending on size; Gross lease; tenant pays utilities and liability insurance
