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$ 2,200,000
Est. payment /mo
Active
230 N Main St Spearfish, SD 57783
8,685 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
MLS Listing ID 170022
Lot Size 8,685 Sqft
Property Sub-Type Other
Property Description
This 31-unit apartment complex is located on Main Street in the heart of Spearfish, SD. The property includes 4 separate buildings that are situated on 4 city lots with a total land area of .64 acres and 8,685 square feet of finished space. Current rental rates range from $625-$850/month with a gross monthly rental income potential of $22,375 ($268,500 annual) at 100% capacity. The owner pays for electricity, gas, city water and city sewer. This is one of the few pet-friendly complexes in Spearfish, which has created strong demand for the units. With the exception of the 824 square foot, 1 bed, 1 bath manager's suite and office, 30 of the 31 units are studio apartments. There is a large laundry room generating additional income. With more than 1/2 acre of land and 200 feet of frontage on the main corridor through Spearfish, the value of this property will continue to appreciate overtime and the commercial uses will remain endless.
Location
State SD
County Other
Area Northern Hills
Interior
Cooling Window/Wall
Listed by THE REAL ESTATE CENTER OF SPEARFISH