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909 E St Patrick St
Rapid City, SD 57701

$2,500,000 USD

Storefront Retail Office Condo For Sale  •  32,400 SF

Property Details

  • Property Type Storefront Retail Office
  • Total Building Size 32,400 SF
  • Lot Size 2.43 AC
  • Building Class B
  • Year Built 1965
  • Cap Rate 7.68 %
  • Tenancy Multiple
  • Zoning General commercial
0 Transit Score
60 Walk Score

1 Unit Available

Name Condo Use Size Price Details
1st Floor - Unit 1 Retail 32,400 SF $2,500,000 USD
  • Unit Size: 32,400 SF
  • Condo Use: Retail
  • Price: $2,500,000 USD
  • Sale Type: Investment or Owner User
  • Price/SF: $77.16 USD
Description
This is 32,400 sf of a 50,000 sf building.

Description 

This asset offers an exceptional blend of secure, in-place cash flow from a seasoned tenant roster and a clear value-add opportunity through the lease-up of existing vacancy. The property features a diverse mix of medical, office, retail, and service-based tenants, several of whom have operated at this location for decades, demonstrating a strong historical performance and commitment to the site.
A key strategic advantage is the property's direct adjacency and shared physical plant with a brand new, high-traffic O'Reilly Auto Parts store. This national tenant acts as a powerful shadow anchor, driving consistent consumer traffic to the shared parking lot and providing daily exposure for the tenants at Saint Patrick Plaza. With approximately 12,000 vehicles passing per day on E Saint Patrick Street, the property boasts excellent visibility and access.
This offering is ideal for an investor seeking a reliable income stream with tangible upside in one of the Midwest's most dynamic and fastest-growing markets.

Highlights

Stabilized Asset with Value-Add Potential: Currently 90.7% occupied by a diverse mix of nine tenants, providing stable cash flow with the opportunity
Seasoned & Resilient Tenant Roster: Anchored by Boyd's Drug Mart, a community staple since 1952, and complemented by a mix of recession-resistant tena
Powerful Shadow Anchor: A brand new, separately-owned O'Reilly Auto Parts shares the building structure and parking lot.

Property Flyers

Financial Summary

Cap Rate: 7.68 %
Total Expenses: $0 USD

Major Tenants

Tenant SF Occupied Lease End Date
Black Hills Center for Native American Research
Boyds Pharmacy
Hair Connection
Happy Jacks-East
Orkin
Oscars Barber Shop
Western Resources

Public Transportation

AirportDriveWalkDistance
Rapid City Regional 16 min - 8.9 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 75
Type: Surface
Included in Rent: Yes
Mariah Jeffery 307-316-2239 Coldwell Banker - The Property Exchange, Inc.
Mariah Jeffery 307-316-2239 Coldwell Banker - The Property Exchange, Inc.