305 Main St Lead, SD 57754-1708

Property Details for 305 Main St

Year built

2001

Lot size

0.20 lot acres

Property size

1,120 SF

Property type

Showrooms

APN

31440-00700-003-00

APU

314400070000300

Description

This exceptional mixed-use property, located at 305 W Main St in Lead, South Dakota, presents a unique investment opportunity. The 10,800 square foot building, renovated in 2022, boasts a beautifully restored Victorian-style exterior and comprises four stories. The ground floor features a thriving bar and restaurant with a full liquor license (valued at $100,000, included in the $850,000 asking price), a grand brick fireplace, and a spacious open area. The second floor houses meticulously restored hotel rooms, each equipped with its own commercial gas hot water heater, furnace, and AC unit. These rooms generate additional income through listings on Airbnb, Expedia, and Booking.com. A second kitchen, walk-in coolers, freezers, and ample storage are located in the lower level, offering versatility for various uses. The third floor provides significant potential for expansion, with plans for eight additional hotel rooms. The property also includes a welcoming outdoor corner patio with a grassy area and stunning Black Hills views. Situated adjacent to the Homestake Opera House and Arts House, this property benefits from a prime downtown location. The building features a newer roof and an on-demand hot water heater in the basement. The third floor has electric service. A cooking and expo area is conveniently located behind the bar. This turnkey operation offers a blend of established income streams and significant upside potential. The 0.2-acre lot is commercially zoned. This is a rare chance to own a piece of Lead's rich history and vibrant downtown.