509 Cambell St, Rapid City, SD 57701

Property Details for 509 Cambell St

Year built

2023

Lot size

0.76 lot acres

Property type

Retail properties & Spaces

Property subtype

Auto shops

Description

This exceptional investment opportunity presents a multi-tenant retail property located at 509 N Cambell St, Rapid City, SD 57701. The 1,475 square foot building, constructed in 2023, sits on a 0.76-acre lot and boasts a prime location near a major Air Force base and significant traffic arteries. The property features a dual-lane drive-thru for optimal customer convenience. Currently occupied by Take 5 Oil Change and 7 Brew, this property benefits from two strong national tenants under 15-year absolute NNN leases commencing November 1, 2023, and expiring November 30, 2038. These leases include 10% rental increases every five years, ensuring consistent income growth. The property generates a Net Operating Income (NOI) of $220,000, resulting in a 6.50% cap rate. The asking price is $3,385,000. This high-visibility location is easily accessible, situated near a major intersection with a combined 49,240 AADT. The surrounding area includes numerous national retailers, educational institutions (within two miles of Western Dakota Technical College and South Dakota School of Mines & Technology), and The Monument, Rapid City's main event center. This property is ideal for a 1031 exchange and offers a compelling return on investment with minimal landlord responsibilities. The property's construction adheres to the latest Take 5 Oil Change and 7 Brew prototypes, ensuring modern and efficient operations. Take 5 Oil Change, a subsidiary of Driven Brands, Inc., operates over 800 locations across the U.S. and Canada, while 7 Brew has over 150 stores in 25+ states. This investment offers a rare opportunity to acquire a high-performing, low-maintenance retail property in a thriving South Dakota market.

Location Insight

City

Rapid City

County

Pennington

State

South Dakota

Longitude

-103.192

Latitude

44.0868