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230 N Main Street, Spearfish, SD 57783

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For Sale

$2,200,000

8,685 sqft

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Multi-Family (2-4 Units)
    Property type

  • $253.31
    Price per square foot

  • Over 50 Years Old
    Age

Explore this Property

Call or Text Listing Agent - Kade Welfl - The Real Estate Center of Spearfish - 605-210-0010 for more information. 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. Buyer is responsible for verifying all information on this MLS document.
MLS# 81297

Courtesy Of The Real Estate Center of Spearfish

(605) 642-2525

Property Features

  • Age
    Over 50 Years Old
  • Amenities
    Dock
  • Architecture Style
    Other
  • Exterior Type
    Wood Siding
  • Lot Size
    0.64 Acres
  • Roof Type
    Metal

Map and Directions

Directions to 230 N Main Street, Spearfish, SD 57783

Home seller CENTURY 21 Associated Realty

Get to know the neighborhood. A local affiliated CENTURY 21 office will help you set up tours, give advice, and negotiate with sellers.

CENTURY 21 Associated Realty

(605) 578-1417
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Copyright © 2024 Mt. Rushmore Area Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

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This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person's eligibility to attend a school or to use or benefit from other city, town or local services.

† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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