Back to Previous Page 1620 Concourse Ct
Net Lease Investment Property
$900,000
Bldg 4,920 SF | Land 0.8 Acres | 1 Story
Property Information
List Price $900,000
Zoning Light Industrial
Bldg SF 4,920
Bldg $/SF $183
Year Built 1990
County Pennington County
Acres 0.8
Property Overview
The building was fully remodeled in 2021 and is configured for childcare use, with a reception area, full kitchen, five care rooms, multiple restrooms, a fire protection system, and fenced outdoor play areas. Twenty on-site parking spaces support staff and pick-up and drop-off traffic.
The property is leased to Kindred Spirits, LLC, doing business as Lil Friends Learning Center of RC, through January 31, 2034, with about seven years remaining on the initial 10-year term. The true NNN lease passes real estate taxes, insurance, repairs, maintenance, and capital replacement obligations to the tenant. Base rent increases 5% annually, and current rent is $6,300 per month. Two 3-year renewal options extend the potential hold.
The 0.80-acre site sits near Elk Vale Rd and SD Hwy 44 in east Rapid City, with access to surrounding employment areas, residential neighborhoods, and regional routes.
Highlights
• Leased through January 31, 2034, with about seven years remaining on the initial term
• True NNN lease: tenant covers taxes, insurance, repairs, maintenance, and capital replacement
• 5% annual rent escalations with two 3-year renewal options
• Current base rent of $6,300 per month ($75,600 annually)
• Fully remodeled in 2021 for childcare use with five care rooms, reception, and full kitchen
• 20 on-site parking spaces
• Near Elk Vale Rd and SD Hwy 44 in east Rapid City
Location Overview
• Near Elk Vale Rd and SD Hwy 44 in east Rapid City
• Access to surrounding employment areas, residential neighborhoods, and regional routes
• Located within Rushmore Business Park, alongside established industrial and flex users
• Elk Vale Rd (SD Hwy 44 to I-90): 22,009 VPD [CONFIRM source/year]
• Concourse Dr (Concourse Ct to Jet Dr): 3,669 VPD [CONFIRM source/year]
Listing Agents
SIOR, CCIM
Commercial Broker
Professional Summary
Chris specializes in investment, industrial, office, land, multifamily, and hospitality transactions throughout Rapid City and the Black Hills. With more than two decades of experience in real estate research, institutional multifamily operations, revenue management, and brokerage, he brings a disciplined, market-driven approach to every assignment.
Clients rely on Chris for strategic pricing, financial analysis, and structured negotiation informed by institutional experience. He advises property owners and investors with clear communication and data-backed recommendations from evaluation through closing.
Experience & Background
Chris began his career in Denver as a research associate with The Meyers Group, leading new development research and publishing reports on market trends and absorption.
In 2003, he joined UDR, Inc., a national multifamily real estate investment trust, where he served as Director of Pricing and Revenue Management. He led the nationwide rollout of yield management software across more than 230 properties, contributing to sustained revenue growth.
After relocating to South Dakota in 2010, Chris built the only team in Western South Dakota solely focused on commercial real estate sales and leasing. Over the past 16 years, Rapid City Commercial has led the region in both sales and leasing volume. In the last five years, the team has completed more than 550 transactions totaling over $425 million in volume, ranking #1 in the KW Commercial North Central Region and among the top 20 nationwide.
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Broker Associate
Professional Summary
Dan focuses on industrial, multifamily, land, and campground transactions throughout Rapid City and the Black Hills region, with an emphasis on investment properties. Since entering commercial real estate in 2022, he has developed experience in small-bay industrial projects and owner-user acquisitions.
Dan approaches each assignment with a practical and analytical mindset, evaluating transactions from both sides to help structure mutually beneficial outcomes. Known for being straightforward and strategic, he works with clients as an advisor and partner rather than a sales-driven intermediary.
Experience & Background
Prior to beginning his real estate career, Dan served as a combat medic in the United States Army, with assignments in Germany and Colorado supporting infantry and military police units. His military background instilled discipline, adaptability, and attention to detail that continue to inform his professional approach.
After returning to Rapid City, Dan earned a Bachelor of Science in Business Administration with a concentration in Management from Black Hills State University. During this time, he obtained his South Dakota real estate license and joined Rapid City Commercial, supporting clients in acquisition, investment analysis, and transaction execution across Western South Dakota.
