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Property profile & analytics
OFF-MARKET Estimated value $550,000
Community centers

512 Main St Rapid City, SD 57701-5020

11,132 SF 0.32 ac lot Built 1947
Entity Owned Free & Clear
Property ID
US79-0567438
Property summary
AI-generated overview

This exceptional 1,500 square foot office suite is ideally situated in the vibrant Shops at Main Street Square in downtown Rapid City, South Dakota. Located on the lower level with convenient elevator access, this traditional office space is perfect for businesses prioritizing client accessibility. The suite boasts 4-5 private offices, a dedicated conference room for meetings and presentations, a comfortable break room for staff, and a private restroom for added convenience. The open layout allows for flexible configuration to suit various business needs. Beyond the suite itself, tenants enjoy access to a wealth of building amenities, including a secure parking garage, a convenient on-site coffee shop, shared restrooms, and a variety of restaurants and retail establishments within the complex. The property sits on a 0.32-acre lot in Pennington County, offering a prestigious address at 512 Main Street, Rapid City, SD 57701. The annual lease rate is $12.00 per square foot, translating to a monthly rent of $1,500, plus utilities estimated at approximately $400 per month. This presents a compelling opportunity for businesses seeking a high-profile location with exceptional amenities and convenient access for clients and employees.

Property profile
Verified
Property type Community centers
Use group MINI-MALL
Year built 1947
Total area 11,132 SF
Lot 0.32 ac (13,939 SF)
APN 37-01-128-011
UPID US79-0567438
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
  • Main Street Square Hotel & Motel Resort
  • Who's Toy House LLC (Bike/Boat/Book/etc) Store Arcade & Gaming Center
  • Dr. Julie Nelson Alternative Medicine Practice
  • Movies Under The Stars - Rapid City SD Cinema
  • Big Red Construction Construction Company
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$465k
CAP Approach CAP
by Request
Comparable Approach Comparable
$637k
Blend (final) Blend
$550k
Owner & transaction history
MHL LLC
MHL LLC
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores $890,000 +90.5%
Auto repair, garage $845,000 +80.8%
Warehouse, storage $715,000 +53.2%
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