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Property profile & analytics
OFF-MARKET
Office buildings
729 Watertown St, Rapid City, SD 57701-1340
Entity Owned
14-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US79-0369707
Property summary
AI-generated overview
This exceptional Rapid City commercial property, located at 729 E Watertown St, offers 7,072 square feet of versatile space in a single-tenant building. Situated on a 0.55-acre lot, this property boasts two buildings, each single-story, constructed in 1988. The interior features updated LVT flooring and carpeting throughout the hallways and offices. The main floor includes a welcoming reception and waiting area, a convenient copying center, a small coffee bar with sink, and two bathrooms. A 16x16 conference room with built-in cabinetry, a four-cubicle office pod (24x14), and a 11x6 copy/storage room provide ample workspace. Four private offices (16x16, 16x12 [2], and 16x11) offer individual workspaces. Abundant natural light floods the space through skylights in the hallway and elevated windows in each work area. Ceiling heights range from 8 to 11 feet. The property is zoned for General Commercial use and presents significant potential for a variety of businesses. The property's APN is 21-31-406-004
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1963
Total area
2,816 SF
Lot
0.55 ac (23,958 SF)
APN
21-31-406-004
UPID
US79-0369707
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
-
Van Beek John PE Engineer
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Ppts, LLC · 14 yrs held
Ppts, LLC
since 2012
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Rapid City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Rapid City submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
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T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$8,240
Tax year 2023
Assessed value
$564,600
Assessed 2024
Previous assessed
$564,600
+0.0% YoY
Effective rate
1.46%
On assessed value
Assessed land
$95,800
Assessed improvement
$468,800
Applied tax rate
4.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1963
Buildings
2
Stories
1
Total area
2,816 SF
Lot
0.55 ac (23,958 SF)
APN
21-31-406-004
UPID
US79-0369707
Jurisdiction
PENNINGTON
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1963
Stories
1
Buildings
2
Lot
0.55 ac
Current owner
From public records · entity-resolved
Ppts, LLC
Entity
Mailing address
1805 E SAMCO RD, RAPID CITY, SD 57702-9372
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 28, 2012
—
Ppts, LLC
Dan P Ferber
Warranty Deed
$354,000 · U.s. Bank N.a.
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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