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Net Lease Investment Property 1620 Concourse Ct 4,920 SF Retail Building Rapid City, SD 57703 $900,000 ($182.93/SF)
Investment Highlights
- Zoned Light Industrial
- Fire protection system, smoke detectors, and handicap access
- Near Elk Vale Rd and SD Hwy 44
- 20 on-site parking spaces, asphalt/off-street
- Fenced outdoor play areas
- Elk Vale Rd (SD Hwy 44 to I-90): 22,009 VPD [CONFIRM source/year]
Executive Summary
1620 Concourse Court offers investors the opportunity to acquire a fully leased, single-tenant net lease investment property in Rapid City's established Rushmore Business Park. The 4,920-square-foot building is leased to Kindred Spirits, LLC, operating as Lil Friends Learning Center of RC, under a long-term NNN lease extending through January 2034 with two additional 3-year renewal options. The lease structure minimizes landlord responsibilities by passing through taxes, insurance, maintenance, repairs, and capital replacement obligations to the tenant.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Day Care Center
Building Size
4,920 SF
Building Class
C
Year Built
1990
Price
$900,000
Price Per SF
$182.93
Tenancy
Single
Building Height
1 Story
Building FAR
0.11
Lot Size
1.00 AC
Zoning
LI - Light Industrial
Parking
20 Spaces (4.07 Spaces per 1,000 SF Leased)
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- Kindrer Spirits LLC
- -
- -
- -
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| Kindrer Spirits LLC | - | - | - | - |
Somewhat walkable
20/100
Exceptionally drivable
90/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 0044958 | Improvements Assessment | $396,900 |
| Land Assessment | $69,700 | Total Assessment | $466,600 |
Property Taxes
Parcel Number
0044958
Land Assessment
$69,700
Improvements Assessment
$396,900
Total Assessment
$466,600
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