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Rapid City, SD 57702 631 Deadwood Ave

631 Deadwood Ave Rapid City, SD - Image 1631 Deadwood Ave Rapid City, SD - Image 2631 Deadwood Ave Rapid City, SD - Image 3
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Presented By: RE/MAX ADVANTAGE
  • MLS# 177467
  • 02/10/2026
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  • SQFT • 6,300

Home Details

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 located along Deadwood Avenue, a primary industrial corridor connecting Interstate 90 to the Omaha/Chicago Street intersection, where the area transitions into a dense retail, food-service, and residential node. This highly visible location provides excellent access and consistent traffic exposure—key contributors to tenant sales performance and long-term lease stability. The surrounding area has experienced substantial reinvestment in recent years, with new ownership groups developing modern facilities while also revitalizing and repositioning older assets. These improvements have strengthened the corridor’s overall appeal and enhanced long-term fundamentals. The 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 assets is available in the attached Offering Memorandum. Listed by Randy Olivier, RE/MAX Advantage, 605-430-6246.
Presented By: RE/MAX ADVANTAGE

Interior Features for 631 Deadwood Ave

Other Interior Features

BasementNone
Floor CoveringConcrete
WallsSheetrock

General for 631 Deadwood Ave

Auction Y/NNo
CityRapid City
ConstructionSteel Frame
CoolingCentral
CountyPennington
Docs on FileLeases
HeatingGas
LeasedOwner Occupied
ParkingAsphalt/Off-Street
Postal Code57702
Primary CityRapid City
Public RemarksNNN 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 west
Road FrontageMajor Artery
RoofRubber
Sale/LeaseFor Sale
Sale/RentFor Sale
StatusU/C CONTINGENCY
Status Detail4
SubdivisionSD
TypeRetail
ViewCity

Exterior for 631 Deadwood Ave

ExteriorBlock
FoundationPoured, Slab
METERSMaster

Additional Details

Price History

Jerilyn Suridis

Broker Associate
Price $1,440,000
MLS#177467
List Date 02/10/2026
Property Type Contingent
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