908 Eglin StRapid City, SD 57701

Property Details for 908 Eglin St

Year built

2023

Lot size

0.85 AC

Property type

Retail properties

Property subtype

Retail space

Description

This exceptional investment opportunity presents a 3,540 square foot, single-tenant storefront located at 908 Eglin St, Rapid City, SD 57701. The property, built in 2023, sits on a 0.85-acre lot within a thriving super regional power center. The tenant, Chapter Aesthetic Studio, is a leading medical aesthetic studio with 22 locations nationwide, backed by a corporate guarantee from Aspen Dental, a major US dental provider with over 1,000 locations. Their partnership, established in 2020, benefits from significant synergy, occupying a space within the #1 most trafficked Aspen Dental location in South Dakota, and a top 9% nationally trafficked center according to Placer.ai data. This prime location is further enhanced by its proximity to major retailers including Sam's Club, Target, Walmart Supercenter, and many others. The property features a new 10-year NNN lease commencing November 2, 2023, with a remaining term of 9 years and built-in rent bumps of 10% every 5 years. The lease includes two 5-year options, each with a 10% rent increase. The property boasts a strong NOI of $177,000 and a 6.25% cap rate, making it an attractive investment in a rapidly growing market. Rapid City's robust economy, fueled by tourism and a low unemployment rate, positions this property for significant long-term growth. The area boasts a population of 156,000 within the Rapid City MSA, no state income tax, and is consistently ranked among the fastest-growing cities in the Midwest. The asking price is $2,832,000.

Location Insight

City

Rapid City

County

Pennington

State

South Dakota

Latitude

44.1019

Longitude

-103.196

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].