3615 Canyon Lake Dr - Loft/Creative Space FOR SALE


Rapid City, SD 57702
$1,750,000 USD
605-390-8868
3615 Canyon Lake Dr, Rapid City, SD for Sale
$1,750,000 USD
Loft/Creative Space - FOR SALE
1/6
null | Request Cap Rate

3615 Canyon Lake Dr
Rapid City, SD 57702


OVERVIEW

SELLER FINANCING UNDER PRIME. The business address for this significant West Rapid City office building has been associated with local advertising and marketing companies over the years. The ground floor space currently holds two long term tenants. Additional space is available on the ground floor to expand into additional rental income or for primary office overflow. The second and top floors are subdivided into a series of multiple private office spaces supported with several adjacent private meeting spaces of different sizes. Executive offices are contained within and a private rear access to the building is quite useful. The dynamic second floor 20' ceiling entrance sports a huge 1930's Chicago brick style wall with old time painted advertising welcoming you to the main offices. Primary street access may be taken directly from Canyon Lake Drive with secondary access taken from Rushmore St. Restaurants are located immediately across Canyon Lake Drive and across Rushmore Street. If this building piques your interest we encourage you to consider looking inside to envision how your business could set up shop at this uniquely located West Rapid address. Long term leases (gross leases) are in place with tenants on the lower level who desire to continue if possible. About 25%-30% of the lower level may be available for the expansion into more income producing spaces. The entire second and third floors are available for the new owner or future tenant. Most of the main floor offices and 2nd and 3rd floor space have been remodeled over time. It is the owners' preference to sell this property using private financing with a CONTRACT FOR DEED.

FOR SALE DETAILS

PRICE

$1,750,000 USD

PRICE/SF

$207 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

SELLER FINANCING UNDER PRIME!

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Loft/Creative Space

ADD'L SUBTYPES

Medical

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

C

YEAR BUILT

1992

SPRINKLERS

-

PARKING SPACES

31

LAND DETAILS

LAND ACRES

0.45 AC

LAND SF

19,602 SF

ZONING

GC

APN/PARCEL ID

0035633

ASK ABOUT THIS PROPERTY

Phillip OlsenOlsen Real EstateMore Info
605-390-8868

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Phillip OlsenOlsen Real EstateMore Info
605-390-8868

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.