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Building for Sale - Real Estate only 701 N 5th St 7,500 SF Retail Building Spearfish, SD 57783 $3,250,000 ($433.33/SF)
Investment Highlights
- Extensive renovations including structural reinforcement and updated mechanical systems
- Bose sound system with plug-in microphones. Cat 5 wiring. Upstairs wired for office cubicles
- Fully equipped commercial kitchen downstairs, kitchen on the upper floor
- Positioned at one of the most recognizable intersections in Spearfish
Executive Summary
The historic Lown Mercantile Building at 701 N 5th St, Spearfish, SD is offered for sale at $3,250,000. Constructed in 1893 and listed on the National Register of Historic Places, this landmark property has undergone an extensive award-winning renovation that seamlessly blends historic character with modern functionality. The building is home to the popular Six Goats Tavern on the main level, featuring a full-service bar, commercial kitchen, open dining area, and rustic architectural details. The second floor is well-suited for events, weddings, meetings, office use, or future redevelopment opportunities.
The property offers significant long-term upside with future elevator infrastructure, multiple outdoor entertainment decks, generous storage space, unfinished office areas, and a development-ready interior lot capable of supporting an additional five-story mixed-use building. This is a rare opportunity to acquire one of the Black Hills' most recognizable commercial assets with strong income potential, redevelopment flexibility, and unmatched historic appeal.
The property offers significant long-term upside with future elevator infrastructure, multiple outdoor entertainment decks, generous storage space, unfinished office areas, and a development-ready interior lot capable of supporting an additional five-story mixed-use building. This is a rare opportunity to acquire one of the Black Hills' most recognizable commercial assets with strong income potential, redevelopment flexibility, and unmatched historic appeal.
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- Offering Memorandum
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
7,500 SF
Building Class
B
Year Built/Renovated
1893/2025
Price
$3,250,000
Price Per SF
$433.33
Tenancy
Single
Building Height
2 Stories
Building FAR
1.08
Lot Size
0.16 AC
Zoning
General Commercial - General Commercial
Frontage
Amenities
- Conferencing Facility
- Corner Lot
- Mezzanine
- Restaurant
- Security System
- Air Conditioning
- Balcony
- Shower Facilities
Moderately walkable
60/100
Exceptionally drivable
90/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 32030-02200-060-00 | Improvements Assessment | $587,230 |
| Land Assessment | $113,400 | Total Assessment | $700,630 |
Property Taxes
Parcel Number
32030-02200-060-00
Land Assessment
$113,400
Improvements Assessment
$587,230
Total Assessment
$700,630
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Building for Sale - Real Estate only | 701 N 5th St