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230 N Main

Spearfish, SD 57783
  • $2,200,000
  • STATUS: Active
  • ON SITE: 95 Days
  • MLS #: 170022
UPDATED: 181 min ago
$2,200,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 8,685
    SQFT
  • $253
    $/SQFT
Neighborhood:
Type:
Commercial
County:

School Ratings & Info

Description

This 31-unit apartment complex is located on Main Street in the heart of Spearfish, SD. The property includes 4 separate buildings that are situated on 4 city lots with a total land area of .64 acres and 8,685 square feet of finished space. Current rental rates range from $625-$850/month with a gross monthly rental income potential of $22,375 ($268,500 annual) at 100% capacity. The owner pays for electricity, gas, city water and city sewer. This is one of the few pet-friendly complexes in Spearfish, which has created strong demand for the units. With the exception of the 824 square foot, 1 bed, 1 bath managers suite and office, 30 of the 31 units are studio apartments. There is a large laundry room generating additional income. With more than 1/2 acre of land and 200 feet of frontage on the main corridor through Spearfish, the value of this property will continue to appreciate overtime and the commercial uses will remain endless.

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© 2024 Black Hills Association of REALTORS® Multiple Listing Service. All rights reserved. The data relating to real estate for sale or lease on this web site comes in part from BHMLS. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Will Dixon Real Estate at Keller Williams Realty Black Hills. Data last updated: 2024-11-10T00:17:13.983.
www.willdixonrealestate.com/homes/153374389
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230 N Main Spearfish, SD 57783

  • Price: $2,200,000
  • Status: Active
  • On Site: 95 Days
  • Updated: 181 min ago
  • MLS #: 170022
0
Beds
0
Baths
0
½ Baths
N/A
Acres
8,685
SQFT
$253
$/SQFT
Neighborhood:
Northern Hills
County:
Other
Area:
Northern Hills
Property Description
This 31-unit apartment complex is located on Main Street in the heart of Spearfish, SD. The property includes 4 separate buildings that are situated on 4 city lots with a total land area of .64 acres and 8,685 square feet of finished space. Current rental rates range from $625-$850/month with a gross monthly rental income potential of $22,375 ($268,500 annual) at 100% capacity. The owner pays for electricity, gas, city water and city sewer. This is one of the few pet-friendly complexes in Spearfish, which has created strong demand for the units. With the exception of the 824 square foot, 1 bed, 1 bath managers suite and office, 30 of the 31 units are studio apartments. There is a large laundry room generating additional income. With more than 1/2 acre of land and 200 feet of frontage on the main corridor through Spearfish, the value of this property will continue to appreciate overtime and the commercial uses will remain endless.
Exterior Features

Road Frontage City/County Roofing CompositionMetal View City

Interior Features

Basement None Cooling Window/Wall Flooring Wood Heating Gas

Property Features

Auction YN No Building Use Other Commercial Type Other Sale Or Lease For Sale Services City SewerCity Water

© 2024 Black Hills Association of REALTORS® Multiple Listing Service.
Listing provided courtesy of Kade Welfl of THE REAL ESTATE CENTER OF SPEARFISH: .


© 2024 Black Hills Association of REALTORS® Multiple Listing Service. All rights reserved. The data relating to real estate for sale or lease on this web site comes in part from BHMLS. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Will Dixon Real Estate at Keller Williams Realty Black Hills. Data last updated: 2024-11-10T00:17:13.983.
 
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Will Dixon Real Estate at Keller Williams Realty Black Hills
2401 West Main Street
Rapid City SD, 57702