2640 Jackson BlvdRapid City, SD 57702

Property Details for 2640 Jackson Blvd

Year built

1985

Lot size

0.48 AC

Property size (Sq ft)

3,684 SF

Property type

Office buildings

APN

37-03-381-008

APU

3703381008

Description

This exceptional 6,639 square foot executive office building presents a rare investment opportunity in Rapid City, South Dakota. Located at 2640 Jackson Blvd, this single-story, 1985-built property sits on a 0.48-acre lot within a seven-building professional office complex at the northwest corner of Sheridan Lake Rd and Jackson Blvd. The main floor, comprising 3,405 square feet, features six private offices, a reception area, two secretarial areas, a conference room, a large storage/workstation, and a kitchenette. Currently leased to five tenants, this space offers flexibility for future owner-occupancy. The lower level, totaling 3,234 square feet, includes seven private offices, two bathrooms with lockers, a kitchen/break area, and storage. This lower level is currently under lease, expiring September 2026, and offers two access points from the main level and access to a common area. The building boasts 90% occupancy and is priced at $895,000, or $134.81 per square foot. This prime location and strong tenant base make this a compelling investment.

• CAP approach

  CAP return

  Valuation

  6%

  $880,199

  6.5%

  $812,491

  7%

  $754,456

• Comparable approach

  Method

  Valuation

  Relative Method

  $967,374

  Geo Method

  $304,372

• Alternative Use

  Use

  Valuation

  Residential

  $1,007,489

  Hospitality

  $922,855

  Educational

  $767,804

  Medical

  $794,210

  Retail

  $1,194,362

Location Insight

City

Rapid City

County

Pennington

State

South Dakota

Latitude

44.0706

Longitude

-103.263

CBSA code

39660

CBSA name

RAPID CITY, SD METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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