625 Flormann St Rapid City, SD 57701
Property Lookup
Property profile & analytics
625 Flormann St Rapid City, SD 57701
- Office buildings
- 4,032 SF
- 0.32 lot acres
Property ID
US79-0251169
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.
Location Intelligence
Current Use by Public Records
- Sarah Schryvers / Physician
- Dr. Kendra Joswiak / Physician
- C U Mortgage Direct / Loan Service / Bank
- Project Recovery / Medical Clinic
- Michelle Wasson / Physician
Property Details for 625 Flormann St
- Year built
- 2001
- Lot size
- 0.32 lot acres
- Property size
- 4,032 SF
- Property type
- Office buildings
- APN
- 37-12-107-002
- APU
- 3712107002
Description
This exceptional Class A, 5,527 square foot medical office building presents a compelling net lease investment opportunity in Rapid City, South Dakota. Located in the city's medical corridor at 625 Flormann St, 57701, this single-tenant property boasts a strong occupancy rate of 100% with a lease expiring May 31, 2025. The tenant, a subsidiary of QuickMD, acquired the business in March 2024 and has five, five-year renewal options, ensuring long-term stability. The building, constructed in 2001 and extensively renovated in 2019 and 2023, features four large offices, four consultation rooms, three restrooms, a breakroom/kitchenette, and a 1,495 square foot renovated basement providing additional workspace. Ample parking is available with 20 spaces, supplemented by four former drive-thru lanes. The property sits on a 0.56-acre lot and includes key card entry and building-wide security. Unique features include a fully functional vault, a legacy from its previous use as a bank. The property is zoned for general commercial use and offers a compelling return on investment with a current monthly net rent of $7,333.33. This is a turnkey investment opportunity with a proven tenant and significant upside potential.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- ML approach
- $375,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $685,000
- 6.5%
- $635,000
- 7%
- $590,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $541,000
Market price range: $209k - $666k
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Rapid City
- County
- Pennington
- State
- South Dakota
- Longitude
- -103.229
- Latitude
- 44.0642
- CBSA code
- 39660
- CBSA name
- RAPID CITY, SD METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$11,989
$140,000
$717,900
$857,900
-
$0.00
$0.00
$0.00
