Retail Storefront
For Sale
$1,900,000
826 MAIN ST, Rapid City, SD 57701
For-sale storefront retail property in Pennington County, offered with a stated size of 12,300.
Property Size12,300 SF
Price / SF$154.47
Days on Market108
Property Features for 826 MAIN ST
General Information
Standard status
Active
Size
12,300 SF
Amenities
Central Air
Forced Air
Partial
City
On Street
Building Details
Building Size
12,300 SF
Listing Agency:
RE/MAX ADVANTAGE
Listed By:
JOEY ONEAL
(605) 786-8776
Source:
Evrealestate
Added: May 22
Changed: Aug 28
Last Checked: Sep 5 at 6:34AM
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 ADVANTAGE
Investment Insights
Based on property information with market context.
This for-sale retail storefront property is located at 826 MAIN ST in Rapid City, South Dakota, and is identified in the listing as being in Pennington County. The property is offered at a stated list price of $1,900,000 and includes a total property size of 12,300.
The available information is limited to the address, county, transaction type, list price, and overall size. Additional details such as interior layout, unit mix, tenancy, and specific building features are not provided in the source data, so due diligence will be required to confirm condition and configuration for prospective buyers.
The available information is limited to the address, county, transaction type, list price, and overall size. Additional details such as interior layout, unit mix, tenancy, and specific building features are not provided in the source data, so due diligence will be required to confirm condition and configuration for prospective buyers.
Key Highlights
- For‑sale storefront retail property in Pennington County (stated size: 12,300).
- Central air conditioning and forced‑air heating.
- Partial basement.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$142,582
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.50%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,851,640
$2.9M
Cap Rate 7%
$2,036,886
$2.0M
Cap Rate 9%
$1,584,244
$1.6M
Market Conditions
NOI Build-Up for 12,300 SF
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.
Gross rent
$221.4K $18.00/SF
− Vacancy
−$17.7K −$1.44/SF
EGI
$203.7K $16.56/SF
− OpEx
−$61.1K −$4.97/SF
NOI
$142.6K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,851,640
Cap Rate 7%
$2,036,886
Cap Rate 9%
$1,584,244
Alternative Uses
Best Use
Retail
$2.04M
$1.78M – $2.38M
NOI $142,582 @ 7.0% cap · market cap 7.50%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.23M
$1.95M – $2.60M
NOI $156,087 @ 7.0% cap · market cap 8.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,196
Businesses Nearby
81k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 33%
Dining 28%
Hotels & Casinos 14%
Electronics 10%
Exxon
Shops & Services
9,783 visits/mo
0.3 miles
Pancheros Mexican Grill
Dining
8,943 visits/mo
0.3 miles
Office Depot
Office Supplies
8,102 visits/mo
0.4 miles
Wells Fargo
Shops & Services
7,068 visits/mo
0.1 miles
Hardee's
Dining
6,431 visits/mo
0.4 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
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Storefront property - For-sale storefront retail property in Pennington County, offered with a stated size of 12,300.
Where is this storefront property located?
The property is located at 826 MAIN ST Rapid City, SD.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: For‑sale storefront retail property in Pennington County (stated size: 12,300).; Central air conditioning and forced‑air heating.; Partial basement.
