Duplex with
620 WEST BLVD, Rapid City, SD 57701
For Sale
$409,500
The lower-level unit has a separate entrance, while the main-floor residence features hardwood flooring and natural light.
Property Size2,925 SF
Price / SF$140
Days on Market25
Property Features for 620 WEST BLVD
General Information
Standard status
Size
Additional Details
Multifamily Units
Tenant in Place
Building Details
Building Size
Listing Agency:
TRUE NORTH ASSET GROUP
Listed By:
SHANNON BRINKER · License SD #17047
(605) 415-7222
Source:
Evrealestate
Added: Oct 20
Changed: Nov 12
Last Checked: Nov 12 at 5:57AM
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 TRUE NORTH ASSET GROUP
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Investment Insights
Based on property information with market context.
Built in 1920, this duplex has a main-floor unit with hardwood floors and natural light, plus a lower-level unit with a private entrance and storage. A garage and off-street parking serve the property, which is currently leased.
The property is in Rapid City’s West Boulevard Historic District, minutes from downtown, Main Street Square, parks, dining, and shopping.
The property is in Rapid City’s West Boulevard Historic District, minutes from downtown, Main Street Square, parks, dining, and shopping.
Key Highlights
- Two‑level duplex with a main‑floor unit and a lower‑level unit
- Built in 1920
- Lower‑level unit has a private entrance and storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,291
Cap Rate
5.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$445,820
$445.8K
Cap Rate 7%
$318,443
$318.4K
Cap Rate 9%
$247,678
$247.7K
Market Conditions
NOI Build-Up for 2,925 SF
Gross rent
$33.3K $11.40/SF
− Vacancy
−$1.5K −$0.51/SF
EGI
$31.8K $10.89/SF
− OpEx
−$9.6K −$3.27/SF
NOI
$22.3K $7.62/SF
Area
Pennington County, SD
Vacancy
4.50%
Lease Rate
$11.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$445,820
Cap Rate 7%
$318,443
Cap Rate 9%
$247,678
Alternative Uses
Best Use
Multifamily LT 5
$318.4K
$278.6K – $371.5K
NOI $22,291 @ 7.0% cap · market cap 5.44%
Second Best
Apartment 5plus
$296.5K
$259.5K – $346.0K
NOI $20,757 @ 7.0% cap · market cap 5.07%
Theoretical Best
Specialty Retail
$530.3K
$464.0K – $618.6K
NOI $37,118 @ 7.0% cap · market cap 9.06%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,196
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - The lower-level unit has a separate entrance, while the main-floor residence features hardwood flooring and natural light.
Where is this duplex located?
The property is located at 620 WEST BLVD Rapid City, SD.
What is the asking price?
The asking price for this property is $409,500.
What are key features of this property?
This property features: Two‑level duplex with a main‑floor unit and a lower‑level unit; Built in 1920; Lower‑level unit has a private entrance and storage
