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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    601 Kansas City St Rapid City, SD 57701

    • Office space
    • 0.56 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US79-0118367
    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

    • Studio Disco / Dance School / Performing Arts Group
    • Black Veil Burlesque / Performing Arts Group / Service Establishment
    • The Bashful Bison Deli and Market / Deli
    • Hay Camp Brewing Company / Restaurant / Brewery
    • Litzen Process Consulting, Inc. / Consultant

    Property Details for 601 Kansas City St

    Lot size
    0.56 lot acres
    Property type
    Office space
    Property subtype
    Coworking space

    Description

    This exceptional 1,150 square foot office space is ideally situated in the heart of historic downtown Rapid City, South Dakota, at 601 Kansas City St, Suite 3 & 4, zip code 57701. The property, encompassing a half-acre (.56 acres) lot zoned for Central Business use, offers a unique blend of traditional and modern office styles, suitable for various business needs. The single-tenant space is perfect for a company seeking a prestigious address and flexible workspace. The building itself boasts significant architectural character, reflecting its rich history. Tenants will appreciate the convenience of multiple parking options, including secure underground parking. The monthly lease rate for suites 3 & 4 is $2200. This property presents a rare opportunity to secure a highly desirable office space in a vibrant and thriving downtown location. The versatile layout caters to traditional office setups, coworking arrangements, executive offices, or creative office environments. The property's central location provides easy access to local amenities, businesses, and transportation networks. Don't miss this chance to establish your business in a landmark Rapid City building.

    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
    -103.22764584066
    Latitude
    44.078902915741

    Comparable in this City

    • $146 SF/Yr
      1,570 SF

      Rapid City Office Suites for Lease

      Downtown Rapid City Office Space - 1570 sq ft
      701 Main St, Rapid City, SD 57701
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    • $21 SF/Yr
      660 SF

      Rapid City Executive Office Suite

      Downtown Rapid City office, 660 sq ft.
      522 7Th St, Rapid City, SD 57701
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    • $14 SF/Yr
      28,000 SF

      Aspen Centre West Offices

      Versatile office suites, prime location.
      660 Flormann St, Rapid City, SD 57701
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    • $18 SF/Yr
      6,300 SF

      701 Main St

      Office space • 0.40 Acres
      701 Main St, Rapid City, SD 57701
      View Details
    • $16 SF/Yr
      1,662 SF

      Rapid City Retail/Office Space

      Endcap suite suitable for retail, office, or health services.
      811 Disk Dr, Rapid City, SD 57701
      View Details
    • $14 SF/Yr
      5,629 SF

      Rapid City Office/Retail Space

      Flexible space, high visibility location
      5955 Mount Rushmore Rd, Rapid City, SD 57701
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1,028 SF

      Retail/Office Space in Rapid City

      High-visibility retail or office space in Rapid City, South Dakota.
      1804 Cambell St, Rapid City, SD 57701
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    • $1,250,000
      11,600 SF

      Rapid City Commercial Property For Sale

      Versatile 11,600 SF commercial property with office and industrial space.
      1202 E St. Francis St, Rapid City, SD 57701
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    • $1,250,000
      11,600 SF

      Versatile Commercial Property in Central Location

      11,600 SF building with office and industrial space.
      1202 E St. Francis St, Rapid City, SD 57701
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    • $1,185,000
      5,992 SF

      Rapid City Office Building For Sale

      Highly visible office building with flexible use options available.
      330 Knollwood Dr, Rapid City, SD 57701
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    • $1,049,000
      5,527 SF

      Rapid City Medical Corridor Property

      Single tenant NNN investment property in Rapid City medical corridor.
      625 Flormann St, Rapid City, SD 57701
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    • $1,808,611
      5.19 Acres

      Rapid City Commercial Land - 5 Acres

      High-exposure commercial lot, ideal for development.
      0 Mall Dr, Rapid City, SD 57701
      View Details

    Similar Nearby for Lease

    • $14 SF/Yr
      28,000 SF

      Aspen Centre West Offices

      Versatile office suites, prime location.
      660 Flormann St, Rapid City, SD 57701
      View Details
    • $146 SF/Yr
      1,570 SF

      Rapid City Office Suites for Lease

      Downtown Rapid City Office Space - 1570 sq ft
      701 Main St, Rapid City, SD 57701
      View Details
    • $21 SF/Yr
      660 SF

      Rapid City Executive Office Suite

      Downtown Rapid City office, 660 sq ft.
      522 7Th St, Rapid City, SD 57701
      View Details
    • $18 SF/Yr
      6,300 SF

      701 Main St

      Office space • 0.40 Acres
      701 Main St, Rapid City, SD 57701
      View Details
    • $1.00 SF/Yr
      6,000 SF

      Prime Rapid City Lease Opportunity

      High-traffic location suitable for retail, restaurant, or office.
      1002 W Main St, Rapid City, SD 57701
      View Details
    • $18 SF/Yr
      469 SF

      Class A Office Space

      Class A office/retail center with high visibility and premium finishes.
      1301 W Omaha St, Rapid City, SD 57701
      View Details
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    601 Kansas City St
    Rapid City, SD 57701
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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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