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909 E St Patrick St - Robbinsdale Shopping Center 32,400 SF Retail Condo Unit Offered at $2,500,000 in Rapid City, SD 57701
INVESTMENT HIGHLIGHTS
- Stabilized Asset with Value-Add Potential: Currently 90.7% occupied by a diverse mix of nine tenants, providing stable cash flow with the opportunity
- Powerful Shadow Anchor: A brand new, separately-owned O'Reilly Auto Parts shares the building structure and parking lot.
- Seasoned & Resilient Tenant Roster: Anchored by Boyd's Drug Mart, a community staple since 1952, and complemented by a mix of recession-resistant tena
EXECUTIVE SUMMARY
This asset offers an exceptional blend of secure, in-place cash flow from a seasoned tenant roster and a clear value-add opportunity through the lease-up of existing vacancy. The property features a diverse mix of medical, office, retail, and service-based tenants, several of whom have operated at this location for decades, demonstrating a strong historical performance and commitment to the site. A key strategic advantage is the property's direct adjacency and shared physical plant with a brand new, high-traffic O'Reilly Auto Parts store. This national tenant acts as a powerful shadow anchor, driving consistent consumer traffic to the shared parking lot and providing daily exposure for the tenants at Saint Patrick Plaza. With approximately 12,000 vehicles passing per day on E Saint Patrick Street, the property boasts excellent visibility and access. This offering is ideal for an investor seeking a reliable income stream with tangible upside in one of the Midwest's most dynamic and fastest-growing markets.
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS
1 UNIT AVAILABLE
Unit 1
| Unit Size | 32,400 SF | Sale Type | Investment or Owner User |
| Price | $2,500,000 | Cap Rate | 7.68% |
| Price Per SF | $77.16 | NOI | $192,125 |
| Condo Use | Retail | No. Parking Spaces | 75 |
| Unit Size | 32,400 SF |
| Price | $2,500,000 |
| Price Per SF | $77.16 |
| Condo Use | Retail |
| Sale Type | Investment or Owner User |
| Cap Rate | 7.68% |
| NOI | $192,125 |
| No. Parking Spaces | 75 |
DESCRIPTION
This is 32,400 sf of a 50,000 sf building.
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909 E St Patrick St - Robbinsdale Shopping Center
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