628 6Th StRapid City, SD 57701

Property Details for 628 6Th St

Year built

1954

Lot size

0.17 AC

Property size (Sq ft)

7,500 SF

Property type

Retail space

APN

37-01-134-013

APU

3701134013

Description

This exceptional commercial property, located in the heart of Downtown Rapid City, South Dakota, presents a unique investment opportunity. The 15,000-square-foot, two-story building, constructed in 1954 and extensively renovated in 2022, boasts a prime location on 6th Street. Currently, 10,000 square feet of space is available for lease, offering multiple configurations to suit diverse business needs. Units range from 138 to 899 square feet, providing flexibility for various tenants. The building features modern amenities, including elevators and ample power. Situated on a 0.17-acre lot, the property is zoned for General Commercial use, allowing for a wide array of potential businesses, including retail, restaurants, service industries, medical offices, and more. Its central location within the vibrant Downtown Rapid City submarket ensures high visibility and accessibility. The building's recent renovation ensures modern functionality and aesthetics, making it an ideal space for businesses seeking a well-maintained and conveniently located office environment. Multiple leasing options are available, allowing for flexibility in size and configuration. This is a rare opportunity to secure a prominent presence in a thriving downtown area. Inquire today to explore the possibilities.

• CAP approach

  CAP return

  Valuation

  6%

  $2,634,146

  6.5%

  $2,431,519

  7%

  $2,257,839

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,962,911

  Geo Method

  $1,561,518

• Alternative Use

  Use

  Valuation

  Residential

  $2,051,078

  Hospitality

  $1,878,776

  Educational

  $1,563,120

  Medical

  $1,616,878

  Retail

  $2,431,519

Location Insight

City

Rapid City

County

Pennington

State

South Dakota

Latitude

44.0791

Longitude

-103.227

CBSA code

39660

CBSA name

RAPID CITY, SD METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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