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    2281 Colorado Blvd Spearfish, SD 57783

    Sponsored
    For Sale
    $2,300,000

    Spearfish, SD Retail Investment Opportunity

    Property size:
    5,932 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional 5,932 square foot retail building, situated within the prestigious Heritage Plaza shopping center in Spearfish, South Dakota, presents a compelling investment opportunity. Built in 2010, the single-story structure sits on a generous 46,000 square foot lot and boasts high-quality construction exceeding typical standards. The asking price is $2,300,000, translating to $387.73 per square foot. Previously occupied by a high-end Italian restaurant, the open floor plan offers remarkable adaptability for a wide range of commercial uses. The building features a comprehensive fire sprinkler system and includes extensive kitchen hoods and a back bar, ideal for food service or similar businesses. Its prime location near Interstate 90, exit 14, ensures high visibility and accessibility. Spearfish, located in the Black Hills of South Dakota, is a thriving community known for its desirable lifestyle and business-friendly environment. This property represents a rare chance to acquire a well-maintained, versatile commercial space in a highly sought-after location. The building's infrastructure is superior, promising a smooth transition for any new tenant or business owner. The expansive lot size provides ample room for expansion or outdoor amenities. This is a turnkey opportunity in a growing market.

    Property Features for 2281 Colorado Blvd

    General Information

    Property type
    Lifestyle centers
    Square Feet
    5,932 SF

    Building Details

    Year Built
    2010
    Buildings
    1
    Stories
    1

    HighLights

    • 5,932 SF retail building in Spearfish, SD's Heritage Plaza, built in 2010.
    • $2,300,000 asking price ($387.73/SF).
    • Open floor plan, adaptable to various uses; previously housed a high‑end Italian restaurant.
    • Features fire sprinklers, extensive kitchen hoods, and a back bar.
    • Prime location near I‑90, Exit 14, offering high visibility and accessibility.
    Property Profile Location Intelligence

    Current Use by Public Records

    Lifestyle centers

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Wholesale Shop Hair Salon Auto Repair Shop Clothing Store Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Spearfish
    County
    Lawrence
    State
    South Dakota
    Longitude
    -103.8216832
    Latitude
    44.476021

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    FAQs

    What type of property is this?
    Lifestyle center - Spearfish, SD Retail Investment Opportunity
    Where is this lifestyle center located?
    The property is located at 2281 Colorado Blvd Spearfish, SD.
    What is the asking price?
    The asking price for this property is $2,300,000.
    What are key features of this property?
    This property features: 5,932 SF retail building in Spearfish, SD's Heritage Plaza, built in 2010.; $2,300,000 asking price ($387.73/SF).; Open floor plan, adaptable to various uses; previously housed a high-end Italian restaurant.
    Request Owner's contact information
    2281 Colorado Blvd Spearfish, SD 57783
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    Spearfish, SD 57783
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    Realmo Value Estimation

    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.

    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.

    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
    2281 Colorado Blvd Spearfish, SD 57783
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