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    Property profile & analytics

    1624 Concourse Ct Rapid City, SD 57703-4761

    • Office buildings
    • 5,000 SF
    • 0.41 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US79-0289963
    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

    • T3R3 Enterprises, LLC / Campground & RV Park
    • Executive Exteriors, LLC / Construction Company / General Contractor
    • TNT Homes & Construction LLC / Construction Company
    • Black Hills Media / Advertising Agency / Marketing & Advertising

    Property Details for 1624 Concourse Ct

    Year built
    1997
    Lot size
    0.41 lot acres
    Property size
    5,000 SF
    Property type
    Office buildings
    APN
    38-04-452-011
    APU
    3804452011

    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
    -103.159
    Latitude
    44.0714
    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
    $6,312
    $26,800
    $403,600
    $430,400
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,695,000
      75,390 SF

      900 Concourse Dr

      OFFICE BUILDING • 75,390 SF
      900 Concourse Dr, Rapid City, SD 57703-4762
      View Details
    • Value Estimation
      $1,600,000
      10,064 SF

      711 Crk Dr

      OFFICE BUILDING • 10,064 SF
      711 Crk Dr, Rapid City, SD 57703-2220
      View Details
    • Value Estimation
      $1,650,000
      10,125 SF

      3600 Jet Dr

      OFFICE BUILDING • 10,125 SF
      3600 Jet Dr, Rapid City, SD 57703-4730
      View Details
    • Value Estimation by Request
      14,511 SF

      1644 Concourse Dr

      OFFICE BUILDING • 14,511 SF
      1644 Concourse Dr, Rapid City, SD 57703-4703
      View Details
    • Value Estimation by Request
      2,280 SF

      1714 Crk Dr

      OFFICE BUILDING • 2,280 SF
      1714 Crk Dr, Rapid City, SD 57703-4133
      View Details
    • Value Estimation by Request
      288 SF

      2945 Eglin St

      OFFICE BUILDING • 288 SF
      2945 Eglin St, Rapid City, SD 57703
      View Details

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      Residential lot for sale in Rapid City's growing Copperfield Vista.
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      Residential Lot in Elks Crossing

      Residential lot with utilities in established Rapid City subdivision.
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    Similar Nearby for Lease

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      Turn-Key Professional Office Space

      Professional office space with offices, conference room, and training lab.
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      View Details
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      Professional Office Space Available

      Turn-key office space in Rushmore Business Park.
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    • $1.00 SF/Yr
      12,080 SF

      Rapid City Industrial Warehouse For Lease

      12,080 SF warehouse on 2.73 acres available for lease.
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    • $10 SF/Yr
      33,750 SF

      Prime Retail/Warehouse Space Available

      New Construction, Flexible Units, E St Patrick St
      2507 Saint Patrick St, Rapid City, SD 57703
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    • $1.00 SF/Yr
      13,568 SF

      Rapid City Industrial Warehouse Space

      13,568 SF warehouse with office space on 2.23 acres.
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    • $1.00 SF/Yr
      24,000 SF

      New Light Industrial Warehouse Units

      Newly constructed warehouse units with flexible sizes and convenient location.
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      View Details
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    Rapid City, SD 57703-4761
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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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