909 St Joseph St Rapid City, SD 57701

Property Details for 909 St Joseph St

Year built

1974

Property size

5,111 SF

Property type

Office Properties & Spaces

Description

This exceptional investment opportunity presents the entire fourth floor of the prestigious Turnac Tower in downtown Rapid City, South Dakota. This 5,111 square foot Class A office space is part of a 10-story building constructed in 1974 and offers a compelling 4.05% cap rate with a current NOI of $50,640. The asking price is $1,250,000, translating to $244.57 per square foot. Currently, the space has 50% occupancy, with over 2,500 square feet available for lease, providing immediate rental income potential. The property boasts numerous amenities, including private and public elevators, a grand marbled lobby and café, professional management, secure off-street parking, and a prime location directly across from Wells Fargo and the Federal Building. Its central downtown location offers easy access to numerous restaurants, businesses, and attractions, including the Rushmore Plaza Civic Center and The Monument arena. This is a multi-tenant, net lease (NNN) investment, ideal for both investors seeking strong returns and businesses looking to establish a presence in a thriving urban environment. The building features high-security features. This is a rare opportunity to acquire a significant portion of a highly desirable building in a vibrant downtown area.