Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    344 Main St Spearfish, SD 57783

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Downtown Spearfish Office Space

    Lot size:
    8,673 SF

    Property Features for 344 Main St

    General Information

    Property type
    Individual retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    8,673 SF
    Class
    A

    Building Details

    Year Built
    2024
    Stories
    3

    Spaces For Lease

    at 344 Main St, Spearfish, SD 57783 Contact us
    Unit Basement Space

    $24 /Mo

    Size
    1,029 SF
    Contact us
    Unit Second Level Space

    $26 /Mo

    Size
    3,330 SF
    Contact us
    Unit Main Level

    $32 /Mo

    Size
    4,314 SF
    Contact us

    We can help!

    Listing Contact
    Alexis Mahlen
    Alexis Mahlen

    Listing Agency: Lloyd Companies Listing Agent: Alexis Mahlen

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This stunning Class A, three-story building at 344 N Main St, Spearfish, SD 57783, offers 1,029 to 6,360 square feet of flexible office or retail space. Built in 2024, the property features eight suites in a prime downtown location within the vibrant Downtown Spearfish submarket. The building boasts modern amenities including one passenger elevator, and ample parking with 22 spaces. Its Commercial zoning allows for diverse uses, including traditional office, executive office, coworking, medical office, and creative office spaces, as well as retail, storefront, coffee shop, cafe, restaurant, boutique, and clothing store options. The building's location on Main Street provides excellent visibility and accessibility for businesses, benefiting from high pedestrian and vehicular traffic. The property's design complements the historic charm of Spearfish's downtown, offering a blend of modern amenities and classic aesthetics. This is a unique opportunity to establish a presence in a thriving South Dakota community known for its welcoming atmosphere and picturesque streetscape. Contact us today to learn more about leasing options and explore the possibilities for your business at The Point on Main Street.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office space

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Spearfish
    County
    Lawrence
    State
    South Dakota
    Longitude
    -103.85793554843
    Latitude
    44.486526505436

    Nearby Similar for Lease

    • $2,100 /Mo
      2,100 SF

      Modern Industrial Building in Spearfish

      New 12,600 sqft industrial building with flexible space options.
      3170 Venture Ct, Spearfish, SD 57783
      View Details
    • $1.00 SF/Yr

      Spearfish Flex Space For Lease

      Flex/Industrial/Warehouse space available for lease in Spearfish, South Dakota.
      4415 E Colorado Blvd, Spearfish, SD 57783
      View Details

    FAQs

    What type of property is this?
    Individual retail property - Downtown Spearfish Office Space
    Where is this individual retail property located?
    The property is located at 344 Main St Spearfish, SD.
    What is the lease rate?
    The lease rate is $24-$32 SF/Yr.
    What are key features of this property?
    This property features: C-1 Central Commercial zoning.; Estimated completion: December 2024.; 28 parking spaces (22 on-site, 6 on-street).
    (605) 321-4861 Call to check price and availability
    Request Owner's contact information
    344 Main St Spearfish, SD 57783
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    344 Main St
    Spearfish, SD 57783
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    344 Main St Spearfish, SD 57783
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Alexis Mahlen
    Alexis Mahlen
    Real Estate License ID: 16000
    (605) 321-4861 (605) 323-2820
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!