Office Units with Shared
For Sale
Contact for pricing
660 Flormann St, Rapid City, SD 57701
Lower-level offices include access to a conference room, break room, and reception area.
Property Size100 SF
Days on Market892
Property Features for 660 Flormann St
General Information
Standard status
Active
Size
100 SF
Elevators
Yes
Additional Details
Floor
Lower Level
Property Use
Office
Amenities
shared break room
conference room
front desk with waiting area
Listing Agency:
KELLER WILLIAMS REALTY BLACK HILLS
Listed By:
Lisa Williams
(605) 484-5802
Source:
Exprealty
Added: May 29, 2024
Changed: Nov 4
Last Checked: Nov 4 at 2:55PM
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 KELLER WILLIAMS REALTY BLACK HILLS
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Investment Insights
Based on property information with market context.
Office units occupy the lower level of Aspen Centre West, with configurations available up to 5,000 square feet. Individual offices are also offered. Shared building features include elevator access, a break room, a conference room, and a reception area with a front desk. Common areas have been updated.
The property is just off Mt. Rushmore Road in Rapid City.
The property is just off Mt. Rushmore Road in Rapid City.
Key Highlights
- Office configurations available up to 5,000 square feet
- Individual offices offered
- Lower‑level space at Aspen Centre West
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$956
Suggested Prices Based on Cap Rates
Cap Rate 5%
$19,120
$19.1K
Cap Rate 7%
$13,657
$13.7K
Cap Rate 9%
$10,622
$10.6K
Market Conditions
NOI Build-Up for 100 SF
Gross rent
$1.5K $15.00/SF
− Vacancy
−$225 −$2.25/SF
EGI
$1.3K $12.75/SF
− OpEx
−$319 −$3.19/SF
NOI
$956 $9.56/SF
Area
Pennington County, SD
Vacancy
15.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$19,120
Cap Rate 7%
$13,657
Cap Rate 9%
$10,622
Alternative Uses
Best Use
Office B
$13.7K
$12.0K – $15.9K
NOI $956 @ 7.0% cap · market cap 95,600.00%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$18.1K
$15.9K – $21.2K
NOI $1,269 @ 7.0% cap · market cap 126,900.00%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,343
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 Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office unit - Lower-level offices include access to a conference room, break room, and reception area.
Where is this office unit located?
The property is located at 660 Flormann St Rapid City, SD.
What are key features of this property?
This property features: Office configurations available up to 5,000 square feet; Individual offices offered; Lower‑level space at Aspen Centre West
