Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1301 W Omaha St Rapid City, SD 57701

    • Investment properties
    • 27,807 SF
    • 3.63 lot acres
    For Lease
    View listing
    $18 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US79-0118338
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • First Command / Financial Advisor
    • Melissa Everhart Senior VA Mortgage Lender / Loan Service / Bank
    • Dr. Jeffrey G. Olson, DDS / Dental Office
    • Rocknak Shaun R DDS / Dental Office
    • Colvin-Jankord Ladel / Dental Office

    Property Details for 1301 W Omaha St

    Year built
    2000
    Lot size
    3.63 lot acres
    Property size
    27,807 SF
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    20-35-451-023
    APU
    2035451023

    Description

    This prestigious Class A commercial property, located at 1301 W Omaha St in Rapid City, South Dakota, offers a variety of flexible office spaces ideal for businesses of all sizes. The two-story building, constructed in 2000, boasts 71,234 square feet of total space, with suites ranging from a minimum of 496 square feet to a maximum contiguous space of 1,383 square feet. The building features three total suites, situated on a 3.68-acre lot, and is zoned for general commercial use. Amenities include ample parking (95+ spaces) and elevators for convenient access to all floors. Currently, two suites are available. Suite 107, a street-level, 1,300 square foot space, offers a versatile layout combining storefront and office areas, including four private offices, a kitchenette, and a restroom. Lease rate is $18.00 per square foot per year, plus an estimated $5.80 per square foot per year in NNN expenses (approximately $2,578.33 per month). Suite 201, a 469 square foot second-floor suite, is available for sublease. This open-plan space features large windows, a kitchenette, premium finishes, and elevator access. The sublease rate is $16.97 per square foot per year, plus an estimated $8.60 per square foot per year in NNN expenses ($1,056.89 per month), with utilities included. Pennington County location provides easy access to downtown amenities.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $3,130,000
      RESTAURANT
      $2,630,000
      RETAIL STORES
      $2,225,000
      AUTO REPAIR, GARAGE
      $2,110,000
      WAREHOUSE, STORAGE
      $1,790,000
      MEDICAL BUILDING
      $1,610,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Rapid City
    County
    Pennington
    State
    South Dakota
    Longitude
    -103.239
    Latitude
    44.0837
    CBSA code
    39660
    CBSA name
    RAPID CITY, SD METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $94,842
    $1,185,900
    $5,702,400
    $6,888,300
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      2,131 SF

      18 Kansas City St

      STORE/OFFICE (MIXED USE) • 2,131 SF
      18 Kansas City St, Rapid City, SD 57701-2950
      View Details
    • Value Estimation by Request
      3,060 SF

      525 Kansas City St

      STORE/OFFICE (MIXED USE) • 3,060 SF
      525 Kansas City St, Rapid City, SD 57701-3673
      View Details
    • Value Estimation by Request
      2,375 SF

      18 Kansas City St

      STORE/OFFICE (MIXED USE) • 2,375 SF
      18 Kansas City St, Rapid City, SD 57701-2950
      View Details
    • Value Estimation
      $630,000
      7,640 SF

      201 Main St

      STORE/OFFICE (MIXED USE) • 7,640 SF
      201 Main St, Rapid City, SD 57701-2840
      View Details
    • Value Estimation by Request
      4,490 SF

      18 Kansas City St

      STORE/OFFICE (MIXED USE) • 4,490 SF
      18 Kansas City St, Rapid City, SD 57701-2950
      View Details
    • Value Estimation by Request
      1,944 SF

      832 Saint Joseph St

      STORE/OFFICE (MIXED USE) • 1,944 SF
      832 Saint Joseph St, Rapid City, SD 57701-2610
      View Details

    Similar Nearby for Sale

    • $600,000

      Rapid City Bar & Liquor License

      Thriving Bar, Liquor License Included
      1902 Lacrosse St, Rapid City, SD 57701
      View Details
    • $425,000
      2.78 Acres

      High-Visibility Commercial Land in Rapid City

      2.78 Acres, Prime Commercial Location
      0 Elk Vale 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
    • $150,000
      0.30 Acres

      Rapid City Commercial Building Lot

      General commercial building lot in high-traffic Rapid City location.
      3429 Rapid St W, Rapid City, SD 57701
      View Details
    • $950,000
      5.00 Acres

      Rapid City Commercial Land - 5 Acres

      Prime 5-acre commercial lot, high visibility, I-90 access.
      3715 Edwards St, Rapid City, SD 57701
      View Details
    • $557,568
      1.60 Acres

      Rapid City Commercial Land Investment

      1.6-Acre Commercial Lot, Prime Location
      3550 Mall Dr, Rapid City, SD 57701
      View Details

    Similar Nearby for Lease

    • $146 SF/Yr
      1,570 SF

      Rapid City Office Suites for Lease

      Downtown Rapid City Office Space - 1570 sq ft
      701 Main St, Rapid City, SD 57701
      View Details
    • $60 SF/Yr
      3,350 SF

      St. Andrew Office Suite for Lease

      Affordable Office Space, Prime Location
      811 Street Andrew St, Rapid City, SD 57701
      View Details
    • $8 SF/Yr
      32,400 SF

      Midland Shopping Center Retail Space

      Rapid City, SD Retail Opportunity
      909 Saint Patrick St, Rapid City, SD 57701
      View Details
    • $16 SF/Yr
      1,662 SF

      Rapid City Retail/Office Space

      Endcap suite suitable for retail, office, or health services.
      811 Disk Dr, Rapid City, SD 57701
      View Details
    • $11 SF/Yr
      3,600 SF

      New Shop Condominiums For Rent

      Shop condominiums with easy I-90 access, estimated completion October 2024.
      4551 Seger Dr, Rapid City, SD 57701
      View Details
    • $21 SF/Yr
      660 SF

      Rapid City Executive Office Suite

      Downtown Rapid City office, 660 sq ft.
      522 7Th 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.
    1301 W Omaha St
    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

    Google sign-in failed. Please try again or use another login method.