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12300 W Hwy 44 3,456 SF 100% Leased Retail Building Rapid City, SD 57702 $549,000 ($158.85/SF)
Executive Summary
-Current owners have spared no expense in updating the property. Outside updates include: new rubber roof on main building and a metal roof on the storage building, new mound septic system with lift station, new HVAC trunks and an energy efficient heat meter. Interior updates include: new interior ceiling with 20" of blown-in insulation, updated electrical,new plumbing lines, LED lighting, fresh paint and new drywall throughout, and a freshly painted and sealed concrete floor. Walk in 25'x7' cooler with 10 access doors.
-2nd building is 1,320sqft and offers great residual income- front 450sqft is leased to a long term mo/mo tenant, andremaining 864sqft is split into 3 separate storage units with 10' overhead doors.
-Plenty of parking in gravel area around property, and sellershave retained the front covered awning for expansion opportunities. Great visibility and daily traffic count (SD DOT 2024 ADT report up to 2,500vehicles/day).
-Sellers removed the non-compliant fuel system, but these could be added back later for additional income potential.
-Property has a shared well and septic system. Majority of work has been completed, but a few items remain: electrical covers, switchplates and heat register covers, minor bathroom work, replacing some interior wood paneling, adding small section of tin ceiling above indoor cooler and thewalk-in cooler is being serviced soon.
-There is an environmental review/mediation process is in progress for the non-compliantfuel system that was removed.
Property Facts
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
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- Mining, Quarrying, and Oil and Gas Extraction
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- -
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Conoco traces its origins to 1875 when Isaac Elder Blake founded the Continental Oil and Transportation Company in Ogden, Utah. Initially focused on petroleum products for Western pioneers, the company evolved through mergers and acquisitions, including its 1929 merger with Marland Oil. Conoco operated as an independent oil company until 2002, when it merged with Phillips Petroleum to form ConocoPhillips. In 2012, Conoco became a retail fuel brand under Phillips 66 following a corporate spinoff. Today, Conoco-branded stations provide gasoline and convenience services across the United States, primarily in the Midwest and Mountain states. The brand is privately held under Phillips 66 and maintains a strong presence in Colorado, Texas, and Montana.
- Johnson's Siding General Store
- Retailer
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- -
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- Rimrock Happy Tavern
- Accommodation and Food Services
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| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Mining, Quarrying, and Oil and Gas Extraction | - | - | - | ||
| Johnson's Siding General Store | Retailer | - | - | - | ||
| Rimrock Happy Tavern | Accommodation and Food Services | - | - | - |
Property Taxes
| Parcel Number | 0046691 | Improvements Assessment | $75,900 |
| Land Assessment | $31,400 | Total Assessment | $107,300 |
Property Taxes
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12300 W Hwy 44
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