2609 Brg Vw Dr Rapid City, SD 57701-0109

Property Details for 2609 Brg Vw Dr

Year built

1965

Lot size

0.69 lot acres

Property size

8,500 SF

Property type

Warehouses

Property subtype

Self storage facilities

APN

38-07-427-004

APU

3807427004

Description

This exceptional investment opportunity presents the chance to acquire a well-established manufacturing business, Murphy Sheds, operating for over 40 years. Located at 2609 Bridge View Dr, Rapid City, SD 57701, this single-tenant, stabilized business occupies a 4,000 square foot industrial space under a gross lease. The asking price is $449,000, representing a compelling $112.25 per square foot and an attractive 18.71% cap rate, based on a Net Operating Income (NOI) of $84,000. The business includes approximately $300,000 in assets, encompassing tools, vehicles, and twenty rent-to-own sheds generating roughly $44,000 in annual income. An additional business location in Casper, WY, is also included, though currently inactive. The property is zoned GC and sits on a 1 square foot lot. The occupancy date was August 31, 2022. Five years of financial records are available upon execution of a non-disclosure agreement. The seller is open to financing options, including a contract with 40% down and the remaining 60% amortized over 20 years at 5.5% interest, subject to a 10-year balloon payment. This presents a significant opportunity for expansion within a robust housing market. The business and inventory are for sale

Location Insight

City

Rapid City

County

Pennington

State

South Dakota

Longitude

-103.192

Latitude

44.0594

CBSA code

39660

CBSA name

RAPID CITY, SD METROPOLITAN STATISTICAL AREA

Property Tax & Assessments