Serena Inn and Suites Repositioning 2124 N Lacrosse St 118 Room Hotel Rapid City, SD 57701 $3,200,000 ($27,119/Room)

Great location - High-visibility I-90 redevelopment and repositioning opportunity in one of Rapid City’s strongest growth corridors
The existing layout and scale provide flexibility for investors pursuing:
• Hotel repositioning and rebranding
• Extended stay conversion
• Workforce housing
• Studio apartment redevelopment
• Hybrid lodging/residential concepts
Hospitality & Commercial Brokers is pleased to present this strategically located 117-room hospitality redevelopment & repositioning opportunity positioned directly off Interstate 90 and LaCrosse Street in Rapid City, South Dakota — one of the region’s most heavily traveled commercial corridors.?
Offered at $3,200,000 ($27,350/key), the property presents a rare opportunity to acquire a large-scale hospitality asset significantly below replacement cost with multiple repositioning paths available.?
The property is ideally situated near substantial ongoing commercial growth, including new retail and restaurant development featuring Chick-fil-A, Les Schwab, and additional national tenants.? The location also stands to benefit from the planned regional sports complex, expected to generate increased tourism, group, and family travel demand.?
Rapid City’s economy is additionally supported by Ellsworth Air Force Base, one of the region’s largest economic drivers and employers.? The base contributes significant year-round lodging demand through military personnel, contractors, training activity, visiting families, and ongoing infrastructure investment tied to the B-21 Raider program and future expansion initiatives.? Ellsworth’s continued growth is expected to further strengthen long-term housing and hospitality demand throughout the Rapid City market.?
Rapid City continues to experience strong regional growth and investment activity across both the hospitality and multifamily sectors.? While new apartment developments are actively being constructed throughout the market, demand for workforce-oriented and affordable housing options remains significant.? The property’s scale, interstate visibility, and flexible layout position it well for investors seeking value-add hospitality repositioning or adaptive reuse opportunities.?
The economy and midscale hotel segment within Rapid City has also experienced limited new supply additions in recent years, supporting long-term operational upside for a renovated and repositioned asset.?
The property is being sold as-is and offers investors the opportunity to create significant value through renovation, operational repositioning, and adaptive reuse strategies.?