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$ 900,000
Est. payment /mo
Active
1620 Concourse Dr Rapid City, SD 57703
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
MLS Listing ID 89542
Property Sub-Type Other
Property Description
4,920 SF | SINGLE-TENANT NNN INVESTMENT | 5% ANNUAL RENT GROWTH Fully leased, single-tenant investment property located in Rushmore Business Park near Elk Vale Rd and SD Hwy 44 in east Rapid City. The location provides convenient access to surrounding employment areas, residential neighborhoods, and regional routes. The 4,920 SF building sits on 0.80 acres and is leased to Kindred Spirits, LLC, doing business as Lil Friends Learning Center of RC, through January 31, 2034, with approximately seven years remaining on the initial term. The true NNN lease assigns real estate taxes, insurance, repairs, maintenance, and capital replacement obligations to the tenant. Base rent increases 5% annually, and the lease includes two 3-year renewal options. The property was fully remodeled in 2021. It is configured for childcare operations with a reception area, full kitchen, five care rooms, multiple restrooms, a fire protection system, fenced outdoor play areas, and 20 on-site parking spaces. The property has supported childcare operations for more than 30 years. The current tenant has occupied the building since October 2023. For more information, contact Chris Long, SIOR, CCIM, at 605-939-4489 or Dan Logan at 605-593-7980.
Location
State SD
County Pennington
Area Northeast
Listed by Keller Williams Realty Black Hills RC