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$3,100,000
180203 MLS
Rare Turnkey Restaurant & Redevelopment Opportunity 1331 E. North Street | Rapid City, South Dakota An exceptional opportunity to acquire one of Rapid City's premier restaurant properties. This approximately 6,000-square-foot freestanding building is fully equipped for an upscale dining or hospitality concept and offers an immediate opportunity for owner-users, restaurant operators, or investors. The offering includes a complete commercial kitchen, expansive dining room, full bar area, outdoor patio with panoramic views of Rapid City's western hills, ample customer parking, and a comprehensive inventory of furniture, fixtures, and equipment (FF&E). The property is currently owned by an independent franchise owner however the national franchise has ceased operations, allowing a new operator to capitalize on an established location with minimal startup time. The property is being offered below its current appraised value. A copy of the appraisal is available to qualified buyers upon execution of a Non-Disclosure Agreement (NDA). Strategically located at the intersection of East North Street and Campbell Street, the property benefits from outstanding visibility and accessibility within one of Rapid City's fastest-growing commercial districts. The surrounding area has experienced substantial investment, including new multifamily housing, retail, hospitality, and commercial development. Nearby destinations include Menards, Walmart, Sam's Club, Rushmore Crossing, Monument Health facilities, and the expanding Dakota Market Square development. The City of Rapid City has also approved a Tax Increment Financing (TIF) project to complete the missing segment of East Anamosa Street to Elk Vale Road, a major infrastructure improvement expected to enhance connectivity, increase commuter traffic, and further strengthen the area's long-term commercial appeal. Contact Christian Morgan, NorthStar Realty at 605-205-5124 or 970-396-8100 with questions or to arrange a tour.

1331 E North, Rapid City
$3,120,000
179997 MLS
Listed by Tyler Schad at Silverleaf Real Estate LLC 605-430-3710. Discover a rare opportunity to own 80 breathtaking acres in the heart of the Black Hills, surrounded by U.S. Forest Service land on three sides for exceptional privacy and direct access to nature. This remarkable property offers sweeping panoramic views, including stunning views of Black Elk Peak, creating an unforgettable setting for your dream home, ranch, or recreational retreat. Located just 18 minutes from Rapid City, you'll enjoy the perfect balance of peaceful seclusion and convenient access to shopping, dining, and amenities. The property consists of two 40-acre parcels, offering the flexibility to purchase the entire 80 acres or buy a single parcel to suit your needs. Rolling hills, open meadows, and a beautiful mix of mature oak, aspen, apple, and pine trees provide a diverse and picturesque landscape that's rich in wildlife and natural beauty. Outdoor enthusiasts will appreciate the endless recreation right outside the back door. Miles of mountain biking, hiking, horseback riding, and ATV trails connect directly through the surrounding Forest Service land, making this an exceptional basecamp for year-round adventure. Whether you're seeking a private mountain estate, an equestrian property, or an investment in one of the Black Hills' most desirable locations, this one-of-a-kind property offers unmatched scenery, privacy, and recreational access.

tbd Canyon Pl, Rapid City
$3,300,000
89455 MLS
11,085 SF turn-key restaurant facility for sale on Mt Rushmore Rd, one of Rapid City’s primary north-south commercial corridors. After 50 years as a community gathering place, the owners of Colonial House are retiring and offering the real estate, liquor license, and FF&E for sale. The operating business is not included. The building is configured as a full-service restaurant use with commercial kitchen, bar, dining areas, bakery production space, office, mezzanine storage, and support areas. The 2.87-acre site includes 105 paved parking spaces and direct access from Mt Rushmore Rd. The location has historically supported more than $5M in annual restaurant sales, demonstrating the strength of the site and corridor. Originally constructed in 1955 and fully remodeled down to the studs in 2015, the property offers an established restaurant location with decades of community goodwill. Ownership would welcome a buyer interested in carrying the Colonial House name forward, though the site is equally suited for a new restaurant concept or easily converted to a multi-tenant retail space. For additional information or to schedule a showing, contact Chris Long at 605-939-4489 or Dan Logan at 605-593-7980.

2315 Mt. Rushmore Road, Rapid City
$3,300,000
179979 MLS
11,085 SF turn-key restaurant facility for sale on Mt Rushmore Rd, one of Rapid City’s primary north-south commercial corridors. After 50 years as a community gathering place, the owners of Colonial House are retiring and offering the real estate, liquor license, and FF&E for sale. The operating business is not included. The building is configured as a full-service restaurant use with commercial kitchen, bar, dining areas, bakery production space, office, mezzanine storage, and support areas. The 2.87-acre site includes 105 paved parking spaces and direct access from Mt Rushmore Rd. The location has historically supported more than $5M in annual restaurant sales, demonstrating the strength of the site and corridor. Originally constructed in 1955 and fully remodeled down to the studs in 2015, the property offers an established restaurant location with decades of community goodwill. Ownership would welcome a buyer interested in carrying the Colonial House name forward, though the site is equally suited for a new restaurant concept or easily converted to a multi-tenant retail space. For additional information or to schedule a showing, contact Chris Long at 605-939-4489 or Dan Logan at 605-593-7980.

2315 Mt Rushmore Rd, Rapid City
$6,800,000
179420 MLS
81 unit apartment complex with a mixture of studio (24), 1 bed (27), 2 bed (24), a3 bed apartments (6), and 12 garages. Conveniently located in SE Rapid City just down the street from Monument Hospital and between two major thoroughfares HWY 16 and HWY 79. Robbinsdale Park complex is directly to the East of this property offering tenants numerous recreation opportunities as well. The property is well kept and has a low vacancy rate making this a great opportunity add a great multifamily complex to your portfolio in the fast growing Rapid City market.

426 & 434 E Fairmont Blvd, Rapid City
$9,060,000
87427 MLS
Rapid City is a core regional market serving the Black Hills and a multi-state trade area spanning western South Dakota, northeastern Wyoming, and portions of Nebraska and Montana—supporting durable tenant demand and long-term cash flow. The property is located on Haines Avenue just south of Interstate 90, with traffic counts exceeding 35,000 vehicles per day. This highly visible site offers excellent access and consistent customer flow. Haines Avenue is a primary north–south arterial connecting I-90 to downtown Rapid City and the city’s main medical corridor. Recent capital improvements (2024–2025) include an extensive interior remodel (including multiple office/warehouse spaces on the 27,342sf, 2nd floor mezzanine), parking lot refinishing and restriping, new LED lighting, and exterior paint. Planet Fitness invested over $2.5 million in its approximately 30,000-square-foot space, reinforcing its long-term commitment. Tenants have executed new 12-year NNN leases with multiple 5-year renewal options, providing stable, predictable income. The investment offers a 7.50% Year One cap rate on base rent, with tenant reimbursement of capital improvements over an amortized term. Offered as part of a four-property portfolio. Additional details available in the Offering Memorandum. Listed by: Randy Olivier, RE/MAX Advantage | 605-430-6246

1845 Haines Avenue, Rapid City
$9,060,000
177466 MLS
NNN Investment Opportunity – Rapid City represents a core regional market for net-lease investment, serving as the commercial hub for the Black Hills and a multi-state trade area encompassing western South Dakota, northeastern Wyoming, and portions of Nebraska and Montana. This depth of regional draw supports long-term tenant performance and durable cash flow. The subject property is strategically positioned on Haines Avenue, immediately south of Interstate 90, benefiting from average daily traffic counts exceeding 35,000 vehicles. This prime location offers exceptional visibility, ease of access, and sustained customer traffic—key drivers of tenant sales and lease longevity. Haines Avenue is a major north–south arterial that directly connects I-90 to downtown Rapid City and the city’s primary medical corridor. In 2024 and 2025, the property underwent extensive capital improvements, including a full interior remodel (including the office space in the 27,342 sf 2nd-floor mezz), acomplete parking lot refinish and restriping, new LED parking lot lighting, and fresh exterior paint. The Planet Fitness tenant alone invested more than $2.5 million into improvements within its approximately 30,000-square-foot space, further reinforcing its long-term commitment to the location. Each tenant (see addendum for details) has recently executed a new 12-year initial lease term with multiple 5-year renewal options, providing stable, predictable income under a true NNN structure. This NNN investment delivers a 7.50% Year One cap rate on base rent, with strong downside protection. Although the landlord advances capital improvement costs, the tenant reimburses these expenses over an amortized term, effectively mitigating long-term ownership exposure. This property is being offered as part of a four-property portfolio. Additional information on the remaining three properties is available in the attached Offering Memorandum. Listed by: Randy Olivier RE/MAX Advantage 605-430-6246

1845 Haines Ave, Rapid City
$3,249,000
177291 MLS
Listed by Brian Gill, with CENTURY 21 ClearView Realty, (605) 641-3465. Introducing a versatile commercial investment opportunity with a very desirable location near all the medical facilities around Monument Health Hospital, known as the "Medical Mile". Exceptional functionality and great visibility off of Catron Boulevard just 1/2 mile from the Stumer Rd. Walmart. This attractive newer two year old property has a total of 17,400 sq. ft., with 10 units and runs 100% occupancy. Tenants are all high quality, well established businesses with long term leases and options to renew. Enjoy the passive income opportunity with the flexibility for either 100% multi-tenant occupancy, or partial rental income for an owner occupant. This location is poised to take advantage of the Catron Boulevard / 5th Street expansion that has been ongoing and will be ramping up in the near future. Each unit has both front and rear off street parking, with heated concrete zero entry front entrances, 14 ft. ceilings and a 12 ft. overhead door with an additional entrance in back. This is NOT a metal warehouse building. This is a high quality Business Park constructed conventionally with 2x8 walls and is extremely well insulated and energy efficient. It has 15 Security Cameras throughout the exterior of the property. Six out of the 10 tenants are medical related businesses with their own security system in place. Gas and electric services are metered separately, and water is divided among all the tenants at $40 monthly. Landscaped areas have a time saving drip system in place for convenience and ease of maintenance.

5626 Fargo Ln, Rapid City
$5,800,000
86621 MLS
LOCATION! LOCATION! LOCATION! 4 prime development lots being sold as one unit. Perfectly situated just off of Hwy 44, at the corner of Elk Vale and Concourse (also on Jubilee), next to the Safeway lot. It's an optimal high-traffic, high-visibility location in a buzzing Rapid Valley business sector. Seller has spent a half a million dollars on different studies, surveys, etc. in the past for a 540-unit, high-end apartment complex under the name of Quail Ridge. There was a TIF application that was accepted at the city level– and, per the facts of the matter, there were communications about a TIF with the county. City water & sewer on sites. Multiple access points mean plenty of layout options. The corner of the lot on the southeast side of the junction of Concourse and Elk Vale would make a great gas station lot. Thriving commercial opportunity, buzzing with opportunity of what could be! Listed at 5.61/SF. Seller is willing to come alongside a qualified buyer with good capital as a partner or as the banker holding a contract for deed. Come take a look!

TBD Elk Vale Road, Rapid City
$3,920,400
176262 MLS
Listed by Pat Hall | Premier Properties LLC | 605-484-5000. 12-Acre Commercial Building Site situated along the fastest-growing corridor in the Rapid City area! Located on Highway 16 South, between Catron Blvd and Moon Meadows, with approximately 414 feet of frontage. Positioned just north of the Forest Service building, this property offers excellent visibility and high traffic counts, making it an ideal location for your next development. Priced at $7.50 per square foot. Property is partially Broker owned.

7811 Mt Rushmore Rd 7811 Mt Rushmore Road, Rapid City
$3,415,000
167660 MLS
Located along the recently reconstructed Dyess Ave just north of Interstate 90, this property presents an excellent opportunity for business expansion in Rapid City's fastest growing industrial corridor. The property consists of approximately 56 buildable acres with access from Dyess Ave and Seger Dr and offers convenient access to Exit 60 at E North St and Exit 61 at Elk Vale Rd. Property taxes currently reflect Ag status. Up to 130 acres available. See MLS #167657. Photo renderings are conceptual only and not to scale. Schedule your private tour today!

TBD Dyess Ave Additional Access From Seger Dr, Rapid City
$5,493,000
167657 MLS
Located along the recently reconstructed section of Dyess Ave just north of Interstate 90, this property presents an excellent opportunity for business expansion in Rapid City's fastest growing industrial corridor. The property consists of approximately 97 buildable acres with access from Dyess Ave and Seger Dr and offers convenient access to Exit 60 at E North St and Exit 61 at Elk Vale Rd. Surrounded by established and thriving businesses this is an ideal location for business park subdivision or larger facility on a competetively priced property. Property taxes currently reflect Ag status. Photo renderings are representative and not to scale. Seller will consider smaller parcels based on site plan needs. Schedule your private tour today!

TBD Dyess Ave Additional Access From Seger Dr, Rapid City
$3,279,000
167922 MLS
18.14 acres zoned General Commercial with easy access to Interstate 90. This is an amazing investment opportunity in a prime location with great visibility, high density traffic and 850' of frontage along Highway 16 bypass (Elk Vale Rd). Another bonus is the property sits just South of a major intersection (Elk Vale Rd & Cheyenne Blvd.) for even more visibility with an easy entrance and exit. Downtown Rapid City is only 3 miles West and Ellsworth Air Force Base in Box Elder is just 3 miles East. The area is seeing significant Commercial and Residential growth and expansion in this area with the new B-21 Raider anticipated to arrive at Ellsworth Air Force Base in 2027.

1046 Endeavour Blvd, Rapid City