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$ 2,700,000
Est. payment | /mo
0.57 Acres Lot
$ 2,700,000
Est. payment | /mo
0.57 Acres Lot
Key Details
Property Type Commercial
Sub Type Warehouse
Listing Status Active
Purchase Type For Sale
MLS Listing ID 175197
Lot Size 0.573 Acres
Property Sub-Type Warehouse
Property Description
Prime NNN Investment Opportunity 24,970 SF industrial building fully leased to Johnstone Supply through April 2030, currently in Year 6 of a 10-year NNN lease. Current base rent is $12,885/month with 2% annual escalations, and two 5-year renewal options at market rate. Landlord responsibilities are limited to structure and roof. Johnstone Supply is a national HVAC/R distributor with 460+ locations. The Rapid City location, operated by SF2RC LLC, holds 48% local market share—the largest in the region. This structure provides reliable, long-term tenancy with substantial financial backing. Built in 2020, the facility offers high-quality infrastructure including 18.5' center ceiling height, 14' sidewalls, an 8'W x 10'T dock door and drive-through OH door with ramp, fire sprinklers, hanging OH heaters, and 3-phase/480V power. Interior includes three private offices, four shared workstations, a training room, classroom, full break room/kitchen, and a climate-controlled showroom. Located on Rapid City's active Deadwood Ave corridor, this asset combines modern construction, strong tenancy, and a passive income profile ideal for investors seeking stability and growth.
Location
State SD
County Pennington
Area Northwest
Interior
Cooling Office Only
Listed by KELLER WILLIAMS REALTY BLACK HILLS