2401 Main StRapid City, SD 57702

Property Details for 2401 Main St

Year built

1976

Lot size

0.63 AC

Property size (Sq ft)

7,776 SF

Property type

Office buildings

APN

37-03-203-004

APU

3703203004

Description

This exceptional 1,480-square-foot ground-level office suite is ideally situated in a high-traffic area of west Rapid City, South Dakota. Completely remodeled in 2022, this single-tenant space boasts five private offices, each with windows, providing ample natural light. A private bathroom, a utility/storage area, and a versatile open space—perfect for a reception area, seating, or additional workstations—complete the layout. The suite features existing cabinetry and countertops, adding immediate functionality. Convenient on-site parking is available, with the exact number of designated spaces to be determined. Enjoy the benefits of a separate entrance and secure after-hours access. A prominent space for a lighted sign marquee above the entrance is also available. The lease term is negotiable, and the landlord will provide the lease agreement for review and acceptance. Utilities are partially covered by the building's CAMs (Common Area Maintenance), with tenants responsible for their internet and phone services. Tenant's insurance is required, and approval by ownership is necessary. The rental rate is $18 per square foot, plus $3.50 for CAMs. Located at 2401 W Main St, Suite 4, Rapid City, SD 57702.

• CAP approach

  CAP return

  Valuation

  6%

  $1,857,879

  6.5%

  $1,714,966

  7%

  $1,592,468

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,041,883

  Geo Method

  $642,453

• Alternative Use

  Use

  Valuation

  Residential Income

  $2,126,557

  Hospitality / Lodging

  $1,947,915

  Institutional / Educational

  $1,620,642

  Healthcare / Senior Housing

  $1,676,379

  Retail / Commercial

  $2,520,999

Location Insight

City

Rapid City

County

Pennington

State

South Dakota

Latitude

44.0818

Longitude

-103.259

CBSA code

39660

CBSA name

RAPID CITY, SD METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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