Log In/Sign Up
Your email has been sent.
Multiple properties for sale - NNN leased 1845 Haines Ave 121,440 SF 100% Leased Retail Building Rapid City, SD 57701 $9,060,000 ($74.60/SF) 7.50% Cap Rate
Investment Highlights
- • Long-Term Net-Leased Income – New 12-year NNN leases with national tenants NAPA Auto Parts and Planet Fitness provide stable, predictable cash flow
- • Recently Upgraded Asset – Significant 2024–2025 capital improvements including interior renovations, LED lighting, exterior updates, and resurfaced
- • Prime High-Traffic Location – Positioned just south of Interstate 90 on Rapid City’s primary retail corridor with visibility to 35,000+ vehicles per
Executive Summary
High-visibility, income-producing retail investment located on Haines Avenue just south of Interstate 90 in Rapid City, SD. This 121,440 SF property sits on 9.03 acres at a signalized corner with traffic counts exceeding 35,000 vehicles per day, offering exceptional access and exposure along a primary north–south corridor.
The asset is anchored by established national tenants NAPA Auto Parts and Planet Fitness, both operating under new 12-year NNN leases with renewal options, providing stable, long-term cash flow. Recent capital improvements (2024–2025) include interior renovations, updated lighting, exterior paint, and parking lot resurfacing.
Offered at a 7.50% Year One cap rate, this property presents a strong passive investment opportunity in the Black Hills’ primary regional trade hub.
The asset is anchored by established national tenants NAPA Auto Parts and Planet Fitness, both operating under new 12-year NNN leases with renewal options, providing stable, long-term cash flow. Recent capital improvements (2024–2025) include interior renovations, updated lighting, exterior paint, and parking lot resurfacing.
Offered at a 7.50% Year One cap rate, this property presents a strong passive investment opportunity in the Black Hills’ primary regional trade hub.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
121,440 SF
Building Class
C
Year Built/Renovated
1988/2025
Price
$9,060,000
Price Per SF
$74.60
Cap Rate
7.50%
NOI
$679,228
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Loading Docks
2 Exterior
Building FAR
0.31
Lot Size
9.03 AC
Zoning
General Commercial - General Commercial - Retail
Parking
417 Spaces (3.43 Spaces per 1,000 SF Leased)
Frontage
280’ on Haines
Amenities
- Freeway Visibility
- Security System
- Signage
- Air Conditioning
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- NAPA AutoParts
- Retailer
- 91,472 SF
- $7.15
- Triple Net
- Dec 2037
- Planet Fitness
- Health Care and Social Assistance
- 29,968 SF
- -
- Triple Net
- Dec 2037
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| NAPA AutoParts | Retailer | 91,472 SF | $7.15 | Triple Net | Dec 2037 | |
| Planet Fitness | Health Care and Social Assistance | 29,968 SF | - | Triple Net | Dec 2037 |
Nearby Major Retailers
Property Taxes
| Parcel Number | 2025332012 | Improvements Assessment | $3,619,000 |
| Land Assessment | $1,919,300 | Total Assessment | $5,538,300 |
Property Taxes
Parcel Number
2025332012
Land Assessment
$1,919,300
Improvements Assessment
$3,619,000
Total Assessment
$5,538,300
1 of 34
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
Presented by
Multiple properties for sale - NNN leased | 1845 Haines Ave
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.
Your message has been sent!
Activate your LoopNet account now to track properties, get real-time alerts, save time on future inquiries, and more.