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118 Main St

Rapid City , South Dakota 57701

Listing Type:
For Sale
Listing Price:
$1,300,000.00
Property Type:
Multi-Family
Property Subtype:
Mid-Rise
Year Built:
1959
Listing Status:
Active
Building Size:
8600 SqFt

Description:

Investment Opportunity! New 9-unit apartment building in the East of 5th development in Downtown Rapid City. Completed in 2017, this former warehouse located between 1st and 2nd St on the north side of Main St was gutted to the shell and reconfigured into 7 one bedroom units, 1 two bedroom unit on the 2nd floor, and a storefront office suite with covered parking adjacent to the building. Each unit has an open concept design with modern amenities - in-unit washer/dryer, dishwasher, kitchen island, hard surfaces throughout, cathedral ceilings, skylights, and large closet. Neighboring businesses include Armadillo's Ice Cream, BHFCU's new building to the west, and Pure Bean Coffeehouse and Dakotah Bank across the street. Walking distance to SDSM&T, Rapid City parks and bike trails, Rapid City Civic Center, and downtown restaurants and nightlife. Current rents are well below market in the surrounding area.
9 units - (7) 1 bed/1 bath ground floor apartments - 635 SF each, (1) 2 bed/2.5 bath 2nd floor apartment - 1,500 SF, (1) ground floor commercial suite - 1,350 SF, 5 year term
Covered parking structure to the west for tenants
Modern amenities in each unit
Current rents well below market
Walking distance to SDSM&T, Main Street Square, downtown restaurants/nightlife, city parks and bike trails

Presented by:

Keller Williams Realty Black Hills

(605) 343-7500

Click here to email


Listed by:

Keller Williams Realty Black Hills

Black Hills

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