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    Property profile & analytics
    OFF-MARKET Estimated value $1,260,000
    Hotels

    1902 Lacrosse St, Rapid City, SD 57701-0708

    19,671 SF 6.91 ac lot Built 1961
    Entity Owned Absentee Owner Free & Clear
    Property ID
    US79-0238955
    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
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Current use
    Occupant on record · Public records
    • Clarion Inn Hotel & Motel
    • Gran Mexicano Mexican Restaurant Restaurant
    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
    KHAN HOTEL SD LLC
    KHAN HOTEL SD LLC
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
    Top alternative use upside
    Restaurant $1.9M +88.2%
    Retail stores $1.6M +59.1%
    Auto repair, garage $1.5M +51.1%
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