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    Property profile & analytics

    Marlin Dr Rapid City, SD 57703

    • Land
    • 3.11 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 Marlin Dr

    Lot size
    3.11 lot acres
    Property type
    Land
    Property subtype
    Hospitality properties

    Description

    This exceptional 3.11-acre commercial property in Rapid City, South Dakota, presents a lucrative investment opportunity. Located in the Marlin Drive Commercial Park, this land offers a ready-to-build hotel/apartment project. Complete architectural and civil plans, compliant with city regulations, are included, streamlining the development process and eliminating permitting delays. The property boasts a prime location near the intersection of Elk Vale Road and East Minnesota Street, along the Highway 16 bypass, experiencing high daily traffic (22,000 vehicles). This ensures excellent visibility and accessibility. Its proximity to the Rapid City Regional Airport (8 miles) further enhances its appeal to travelers. The permitted zoning is General Commercial, making it ideal for a hospitality-focused development to meet the growing demand for accommodations in the area. The asking price for this turnkey development opportunity is $624,900. This property is agent-owned and offers a significant competitive advantage due to the pre-approved plans.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Rapid City
    County
    Pennington
    State
    South Dakota
    Longitude
    -103.168
    Latitude
    44.0439

    Comparable in this City

    • Value Estimation
      $955,000
      14,519 SF

      3723 Eglin St

      HOTEL/MOTEL • 14,519 SF
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    • Value Estimation
      $1,620,000
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      1300 Elk Vale Rd

      HOTEL/MOTEL • 24,297 SF
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    • Value Estimation
      $1,185,000
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      4201 Interstate 90th Service Rd

      HOTEL/MOTEL • 19,376 SF
      4201 Interstate 90th Service Rd, Rapid City, SD 57703
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    • Value Estimation
      $820,000
      12,092 SF

      4040 Cheyenne Blvd

      HOTEL/MOTEL • 12,092 SF
      4040 Cheyenne Blvd, Rapid City, SD 57703-4801
      View Details
    • Value Estimation
      $680,000
      10,824 SF

      4031 Cheyenne Blvd

      HOTEL/MOTEL • 10,824 SF
      4031 Cheyenne Blvd, Rapid City, SD 57703-4804
      View Details
    • Value Estimation
      $1,755,000
      28,894 SF

      580 Watiki Way

      HOTEL/MOTEL • 28,894 SF
      580 Watiki Way, Rapid City, SD 57703
      View Details

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    Similar Nearby for Lease

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    Marlin Dr
    Rapid City, SD 57703
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    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
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