Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Mall Dr Rapid City, SD 57701
    Back to Search
    Property profile & analytics

    Mall Dr Rapid City, SD 57701

    View on Map
    • Land
    • 5.19 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 Mall Dr

    Lot size
    5.19 lot acres
    Property type
    Land

    Description

    This exceptional 5.19-acre commercial land parcel presents a prime development opportunity in Rapid City, South Dakota. Located on East Mall Drive, the property boasts significant frontage (728 ft) and depth (almost 300 ft), ensuring high visibility and accessibility. The zoning is General Commercial, allowing for a wide range of uses. Access is available from both East Mall Drive and Taggert Road, providing convenient ingress and egress. The area is experiencing substantial growth, with two new industrial parks recently developed to the east along East Mall Drive. This positive trend suggests strong potential for future motel, retail, and light industrial development within the next five years. The property's strategic location and ample size make it an attractive investment for developers seeking to capitalize on Rapid City's expanding commercial sector. Note that a 12-acre parcel directly west of this property, also fronting East Mall Drive and accessible from Taggart Road and Dakota Craft Drive, is also available. The property is situated in Pennington County, South Dakota, with the address listed as TBD E Mall Dr, Rapid City, SD 57701. The asking price for this exceptional opportunity is $1,808,611.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Rapid City
    County
    Pennington
    State
    South Dakota
    Longitude
    -103.167
    Latitude
    44.1026

    Comparable in this City

    • Value Estimation by Request
      2.22 Acres

      2355 Elk Vale Rd

      Land • 2.22 Acres
      2355 Elk Vale Rd, Rapid City, SD 57701
      View Details
    • Value Estimation by Request
      12.30 Acres

      Rapid City, SD 57701

      Land • 12.30 Acres
      Rapid City, SD 57701
      View Details
    • Value Estimation by Request
      1.60 Acres

      3550 Mall Dr

      Land • 1.60 Acres
      3550 Mall Dr, Rapid City, SD 57701
      View Details
    • Value Estimation by Request
      7.23 Acres

      621 Mall Dr

      Land • 7.23 Acres
      621 Mall Dr, Rapid City, SD 57701
      View Details
    • Value Estimation by Request
      9.95 Acres

      9.95 acres Mall Dr

      Land • 9.95 Acres
      9.95 acres Mall Dr, Rapid City, SD 57701
      View Details
    • Value Estimation by Request
      19.55 Acres

      Mall Dr

      Land • 19.55 Acres
      0 Mall Dr, Rapid City, SD 57701
      View Details

    Similar Nearby for Sale

    • $7,000,000

      Black Hills Landmark Property

      80+ acres with architecturally designed structures in great condition.
      24100 S Rockerville Rd, Rapid City, SD 57701
      View Details
    • Contact for pricing

      Acreage Near Rapid City Development

      10-acre parcel suitable for various development purposes near Rapid City.
      Tbd Gisi Rd, Rapid City, SD 57701
      View Details
    • $799,000
      3.50 Acres

      Commercial Land Near Rushmore Crossing

      3.5 acre commercial lot in thriving Rapid City district.
      1424 Luna Ave, Rapid City, SD 57701
      View Details
    • $799,000

      Commercial Parcel Near Rushmore Crossing

      3.5 acre commercial lot near shopping complex.
      1424 Luna Ave, Rapid City, SD 57701
      View Details
    • $1,842,000

      Commercial Land on East Mall

      Commercial land available on East Mall Drive.
      2827 E Mall Dr, Rapid City, SD 57701
      View Details
    • $150,000

      Land For Sale

      Commercial land available on W Rapid Street, Rapid City.
      3429 W Rapid St, Rapid City, SD 57701
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Rapid City Build-to-Suit Lease

      Prime commercial lot for lease in Rapid City, South Dakota.
      1002 West Main St, Rapid City, SD 57701
      View Details
    • $1.00 SF/Yr
      3,400 SF

      Rapid City Office Space Available

      Flexible office suites near Mount Rushmore Road in Rapid City.
      1010 9Th St, Rapid City, SD 57701
      View Details
    • Contact for pricing

      Rapid City Retail Space For Rent

      Multi-level retail space with commercial kitchen and high visibility.
      937 E North St, Rapid City, SD 57701
      View Details
    • Contact for pricing

      Downtown Rapid City Office Building

      Flexible office suites for lease in downtown Rapid City.
      629 Quincy St, Rapid City, SD 57701
      View Details
    • Contact for pricing

      Historic Factory Converted to Spaces

      Multi-unit retail and office spaces with Black Hills skyline views.
      7201 Mount Rushmore Rd, Rapid City, SD 57701
      View Details
    • Contact for pricing

      Rapid City Retail/Warehouse Space

      11,400 SF retail and warehouse space available August 2025.
      17 New York St, Rapid City, SD 57701
      View Details
    Request Owner's contact information
    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.
    Mall Dr
    Rapid City, SD 57701
    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
    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

    Thank You for Inquiry
    Mall Dr, Rapid City, SD, 57701
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!