603 N River St - Hospitality FOR SALE


Hot Springs, SD 57747
$1,700,000 USD
605-390-2481
603 N River St, Hot Springs, SD for Sale
$1,700,000 USD
Hospitality - FOR SALE
1/130
null | Request Cap Rate

603 N River St
Hot Springs, SD 57747


HIGHLIGHTS

  • Multi-Stream Hospitality Asset: lodging + events + wellness/spa potential
  • 11 Guest Accommodations including a two-bedroom apartment
  • Event Center Capacity up to 250 Guests (weddings, corporate events, reunions, private functions) with 4 attached suites
  • Full Kitchen + Dedicated Dining Room supports retreats, group stays & catered operations and liquor license
  • Spa & Wellness Area with hot sand room, granite room, hot soaking tub room & massage rooms
  • Historic 1891 Sandstone Building with strong destination-style appeal

OVERVIEW

Historic Boutique Resort, Event Venue & Wellness Destination An Exceptional Hospitality Investment Opportunity in Hot Springs, South Dakota Historic destination properties with existing hospitality infrastructure rarely become available in the Black Hills. Red Rock River Resort offers the opportunity to acquire an operating hospitality campus in the heart of Hot Springs, South Dakota, a community experiencing renewed interest as a wellness, recreation, and destination travel hub. Originally constructed in 1891, this remarkable sandstone landmark sits along the river in the heart of historic Hot Springs, once nationally known as **"The Carlsbad of America"** for its natural mineral springs, wellness culture, and elegant resort hotels. Today, Hot Springs is experiencing a remarkable resurgence. Significant investment in downtown revitalization, the beautifully restored River Walk, the continued success of Moccasin Springs Natural Mineral Spa, year-round tourism, and growing interest in experiential travel are bringing new energy to this historic community. Visitors come to relax, reconnect, and experience one of the Black Hills' most authentic destinations. Red Rock River Resort offers the rare opportunity to acquire an operating hospitality property while continuing its transformation into a premier boutique destination. ## Existing Improvements The property currently includes: • 17 guest accommodations, including a desirable two-bedroom apartment • Large event center accommodating approximately 250 guests • Four guest rooms connected directly to the event center • Commercial kitchen and dining facilities • Spa and wellness amenities including a hot sand room, granite room, soaking tub room, and massage rooms • Retail/commercial space suitable for boutique shops, cafés, galleries, or guest services • Historic sandstone architecture that simply cannot be replicated today ## Multiple Revenue Opportunities The property's flexible design supports numerous business models including: • Boutique hotel • Destination spa and wellness retreat • Weddings and special events • Corporate retreats • Family reunions • Restaurant and destination dining • Boutique retail • Wellness programming • Retreat experiences • Seasonal tourism packages • Group tours ## Why This Opportunity Stands Apart • Historic 1891 sandstone landmark • Existing hospitality infrastructure • Established event venue • Built-in wellness amenities • Multiple potential revenue streams • Prime location within the Southern Black Hills tourism corridor • Significant value-add and redevelopment potential • A destination property with authentic history and character A Vision for the Future Imagine welcoming guests for a weekend that combines luxury lodging, spa treatments, exceptional dining, boutique shopping, evening cocktails in a restored basement speakeasy, live entertainment, and unforgettable days exploring the Southern Black Hills. Picture a destination where guests arrive for a wedding, return for an anniversary getaway, attend a wellness retreat, or spend a long weekend enjoying the natural mineral springs, nearby national parks, and outdoor recreation. Red Rock River Resort has the foundation to become a place visitors return to year after year. Few properties possess both the historic character and physical layout necessary to create this type of immersive destination experience. ## Why Hot Springs? Hot Springs offers a rare combination of history, wellness, recreation, and small-town charm while remaining close to some of western South Dakota's most recognizable attractions. Nearby attractions include: • Wind Cave National Park • Custer State Park • The Mammoth Site • Evans Plunge Mineral Springs • Moccasin Springs Natural Mineral Spa • Angostura Reservoir • Scenic drives, hiking, fishing, kayaking, golfing, wildlife viewing, and year-round outdoor recreation Known as **"The Carlsbad of America,"** Hot Springs has welcomed travelers seeking relaxation and healing for more than a century. Today, the city is once again becoming a destination for wellness tourism, boutique lodging, and authentic Black Hills experiences. Continued investment in downtown revitalization, the River Walk, local restaurants, shopping, and tourism has positioned the community for continued growth. Ideal Ownership Opportunities Red Rock River Resort offers exceptional flexibility for a variety of hospitality and investment strategies. Ideal for: • Boutique hotel operators • Hospitality investors • Wellness and spa operators • Wedding and event venue owners • Restaurant entrepreneurs • Retreat operators • Destination resort developers • Family offices seeking legacy investments • 1031 Exchange buyers seeking an income-producing commercial property with significant upside With existing lodging, event facilities, wellness amenities, commercial kitchen space, retail opportunities, and redevelopment potential, Red Rock River Resort provides a foundation that would take years and substantially more capital to recreate today. Investment Opportunity Whether preserving its legacy as a historic resort or transforming it into a modern boutique hospitality destination, Red Rock River Resort offers investors the opportunity to own a landmark property with multiple revenue streams and exceptional long-term upside. This is more than a hotel. It is an opportunity to restore a historic destination, create unforgettable guest experiences, and become part of the continued revitalization of one of South Dakota's most unique communities. Learn More Read the full story and vision for Red Rock River Resort: https://www.hillsrealestateteam.com/blog/103/Red+Rock+River+Resort%3A+A+Historic+Destination+Reimagined+in+Hot+Springs%2C+South+Dakota Experience everything Hot Springs has to offer: https://www.youtube.com/watch?v=JmBmN_lrZ8Y

FOR SALE DETAILS

PRICE

$1,700,000 USD

PRICE/SF

$52 USD /SF

# OF ROOMS

17

PRICE/ROOM

$100,000 {currency}

CAP RATE

Request Cap Rate

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Red Rock River Resort

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

3

ROOM ENTRANCE

Interior

BUILDING CLASS

C

YEAR BUILT

1891

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.22 AC

LAND SF

9,583 SF

ZONING

General Commercial

APN/PARCEL ID

75520-05600-026-00

ASK ABOUT THIS PROPERTY

Cheri St PierreBerkshire Hathaway HomeServices Midwest RealtyMore Info
605-390-2481

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Cheri St PierreBerkshire Hathaway HomeServices Midwest RealtyMore Info
605-390-2481

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