Property profile

1902 Lacrosse St Rapid City, SD 57701

OFF-MARKET
Hotels
Property ID
US79-0238955
19,671 SF 6.91 ac lot Built 1961
Entity Owned Absentee Owner Free & Clear
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Property summary

AI-generated overview

This exceptional opportunity presents a turnkey bar and on-sale liquor license in Rapid City, South Dakota, listed at $600,000. Located at 1902 N Lacrosse St, zip code 57701, this valuable asset allows for the sale of alcoholic beverages for on-site consumption. A significant advantage is the inclusion of authorization for up to ten gaming machines, offering a substantial additional revenue stream. Situated in Pennington County, this property benefits from Rapid City's robust economy and increasing tourism. The license is ideal for entrepreneurs seeking to establish a new bar or expand an existing business within the city's dynamic hospitality and entertainment sector. This is a rare chance to acquire a well-positioned, established license with significant earning potential, ready for immediate operation. The property's prime location in Rapid City, South Dakota, ensures high visibility and accessibility to a large customer base. This turnkey opportunity minimizes start-up costs and allows for immediate revenue generation. The combination of a liquor license and gaming machine authorization provides a unique and lucrative investment prospect in a thriving market. Don't miss this chance to own a piece of Rapid City's vibrant nightlife scene.

Property profile

Verified
Property type Hotels
Use group HOTEL/MOTEL
Year built 1961
Total area 19,671 SF
Lot 6.91 ac (301,000 SF)
APN 21-30-328-002
UPID US79-0238955

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Hotel & Motel
  • Restaurant

Location

1902 Lacrosse St Rapid City, SD 57701-0708
Rapid City metro Census 10400 RAPID CITY, SD METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$830k
CAP Approach CAP
$1.75M
Comparable Approach Comparable
$1.21M
Blend (final) Blend
$1.26M

Owner & transaction history

Zoning & alternative use

Top alternative use upside
Restaurant $1.9M +88.2%
Retail stores $1.6M +59.1%
Auto repair, garage $1.5M +51.1%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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