1333 Elk Vale Rd Rapid City, SD 57703-9504
Property profile & analytics
1333 Elk Vale Rd Rapid City, SD 57703-9504
- Hotels
- 16,795 SF
- 3.60 lot acres
Property ID
US79-0669846
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.
Location Intelligence
Current Use by Public Records
- Comfort Suites Conference Center Rapid City / Hotel & Motel
Property Details for 1333 Elk Vale Rd
- Year built
- 2009
- Lot size
- 3.60 lot acres
- Property size
- 16,795 SF
- Property type
- Hotels
- Property subtype
- Motels
- APN
- 21-28-476-003
- APU
- 2128476003
Description
This exceptional 5,252-square-foot restaurant and bar space is located at 1333 N Elk Vale Rd in Rapid City, South Dakota, 57703. The property boasts a prime location with excellent visibility and accessibility from I-90 and Elk Vale Road, benefiting from substantial summer tourist traffic and convention traffic during the off-season. Situated within a rapidly developing area with limited full-service restaurant and entertainment options, this Class A property presents a unique investment opportunity. The building itself is a four-story structure with over 100 parking spaces, ensuring ample convenience for patrons and staff. The interior features a spacious 47' x 57' dining and entertaining area, a sizable 47' x 17' catering kitchen complete with a storage room, and convenient features such as men's and women's restrooms, a coat room, and additional storage. A connecting corridor provides direct access to the adjacent Comfort Suites hotel, a top-ranked Choice hotel with consistently high guest ratings and near-full occupancy during peak seasons. The property is zoned for General Commercial use and sits on a 3.6-acre lot. A tenant improvement allowance is negotiable. The lease rate is $15.00 per square foot per year, NNN.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- ML approach
- $710,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $1,615,000
- 6.5%
- $1,490,000
- 7%
- $1,385,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $1,121,000
Market price range: $623k - $1.12M -
Alternative Use
- Use
- Estimation
- HOTEL/MOTEL
- $885,000 Current use
- RESTAURANT
- $1,710,000 Change: +93% Conversion: Difficult
- RETAIL STORES
- $1,385,000 Change: +56% Conversion: Difficult
- OFFICE BUILDING
- $1,380,000 Change: +55% Conversion: Difficult
- MEDICAL BUILDING
- $1,155,000 Change: +30% Conversion: Difficult
- WAREHOUSE, STORAGE
- $895,000 Change: +1% Conversion: Difficult
- AUTO REPAIR, GARAGE
- $860,000 Change: -3% Conversion: Difficult
- NEIGHBORHOOD: SHOPPING CENTER
- $735,000 Change: -17% Conversion: Difficult
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Location Insight
- Map
- Local Demand
- City
- Rapid City
- County
- Pennington
- State
- South Dakota
- Longitude
- -103.153
- Latitude
- 44.0978
- 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
$114,112
$627,300
$7,262,500
$7,889,800
-
$0.00
$0.00
$0.00
