909 St Joseph StRapid City, SD 57701

For Sale
$1,250,000

Rapid City Office Building, Net Lease

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional investment opportunity presents the entire fourth floor of the prestigious Turnac Tower in downtown Rapid City, South Dakota. This 5,111 square foot Class A office space is part of a 10-story building constructed in 1974 and offers a compelling 4.05% cap rate with a current NOI of $50,640. The asking price is $1,250,000, translating to $244.57 per square foot. Currently, the space has 50% occupancy, with over 2,500 square feet available for lease, providing immediate rental income potential. The property boasts numerous amenities, including private and public elevators, a grand marbled lobby and café, professional management, secure off-street parking, and a prime location directly across from Wells Fargo and the Federal Building. Its central downtown location offers easy access to numerous restaurants, businesses, and attractions, including the Rushmore Plaza Civic Center and The Monument arena. This is a multi-tenant, net lease (NNN) investment, ideal for both investors seeking strong returns and businesses looking to establish a presence in a thriving urban environment. The building features high-security features. This is a rare opportunity to acquire a significant portion of a highly desirable building in a vibrant downtown area.

Highlights

  • Entire 4th floor of prestigious Turnac Tower, Rapid City, SD.
  • 5,111 SF Class A office space, 50% occupied, with 2,500+ SF available for lease.
  • $1,250,000 asking price, $244.57/SF, 4.05% cap rate, $50,640 NOI.
  • Prime downtown location, across from Wells Fargo & Federal Building, near amenities.
  • Multi-tenant, NNN lease; ideal for investors and businesses.

Property Details for 909 St Joseph St

Property type
Other office properties, Office properties
Square Feet
5,111 SF
Class
A
Year Built
1974
Buildings
1
Stories
10

Location Insight

City
Rapid City
County
Pennington
State
South Dakota
Latitude
44.081031044238
Longitude
-103.2337024771
909 St Joseph St, Rapid City, South Dakota

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909 St Joseph St
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