909 Saint Patrick StRapid City, SD 57701

Property Details for 909 Saint Patrick St

Year built

1965

Lot size

2.43 AC

Property size (Sq ft)

32,400 SF

Property type

Strip malls

Property subtype

Neighborhood centers

APN

38-07-201-001

APU

3807201001

Description

This exceptional retail property, located at 909 E Saint Patrick St, Rapid City, SD 57701, offers 12,176 square feet of space currently occupied by Boyd's Pharmacy within the larger 32,400 square foot Midland Shopping Center. The single-story building, constructed in 1952, sits on 2 acres of land and boasts ample parking with 75 spaces. The property is zoned commercial and situated in the South Central Rapid City submarket, specifically the Robbinsdale Park cluster, near E St Joseph St. Currently fully leased, there's a potential for partial lease of approximately half the space due to the tenant's planned consolidation. This presents a unique opportunity for a variety of businesses. The property's ideal location and substantial parking make it suitable for a range of uses, including but not limited to a church, liquor store, yoga studio, or smaller fitness center. A significant advantage for potential tenants is that the landlord covers utilities, taxes, and insurance. This turnkey solution minimizes operational overhead and allows businesses to focus on growth. The property's history as a successful retail location, combined with its convenient location and generous parking, makes it a highly attractive investment opportunity.

• CAP approach

  CAP return

  Valuation

  6%

  $11,379,510

  6.5%

  $10,504,163

  7%

  $9,753,866

• Comparable approach

  Method

  Valuation

  Relative Method

  $21,439,774

  Geo Method

  $6,745,758

• Alternative Use

  Use

  Valuation

  Residential

  $8,860,655

  Hospitality

  $8,116,312

  Educational

  $6,752,676

  Medical

  $6,984,912

  Retail

  $10,504,163

Location Insight

City

Rapid City

County

Pennington

State

South Dakota

Latitude

44.0668

Longitude

-103.201

CBSA code

39660

CBSA name

RAPID CITY, SD METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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