Rapid City, South Dakota, is an ideal location for retail space, offering a unique blend of natural beauty, rich history, and modern amenities. With its scenic location on the eastern slope of the Black Hills, Rapid City attracts tourists and locals alike, making it an excellent spot for retail businesses. The city's strong economy, driven by government services, healthcare, tourism, and financial services, provides a solid foundation for retail investments. Additionally, Rapid City is home to several major institutions, including Ellsworth Air Force Base, Monument Health, and Black Hills Ammunition, which contribute to the city's economic growth. The city's infrastructure, including Interstate 90, Rapid City Regional Airport, and the Rapid City, Pierre and Eastern Railroad, ensures easy access and connectivity for businesses and residents.
Rapid City offers a diverse range of retail spaces for lease, with 8 listings available. These spaces range in size from 1,000 square feet to 12,000 square feet, with an average annual rent of $15 USD per square foot. In addition to retail spaces, Rapid City also offers a variety of other property types, including restaurants, medical offices, and office spaces. Restaurants can thrive in Rapid City's vibrant downtown area, surrounded by attractions like Art Alley and the City of Presidents walking tour. Medical offices can benefit from the city's strong healthcare sector, led by Monument Health. Office spaces can take advantage of the city's growing financial services industry, with companies like Black Hills Ammunition and Ellsworth Air Force Base. With its unique blend of natural beauty, rich history, and modern amenities, Rapid City is an excellent location for businesses looking to establish a strong presence in the region.
What is the average cost per square foot for retail space in Rapid City?
The average cost per square foot for retail space in Rapid City is $15 USD per square foot, with an average size of 4,819 square feet and a maximum space size of 12,000 square feet available among the 8 listings of retail space for lease in the area.
How do anchor tenants affect surrounding retail space leases?
In Rapid City, where there are currently 8 available listings of retail space, anchor tenants play a significant role in influencing the surrounding retail space leases, as they attract a large customer base and create a draw for other businesses, thereby increasing foot traffic and desirability, which can lead to higher lease rates and more competitive terms for nearby retail spaces, with average annual rent per square foot at $15 USD and average size of 4,819 square feet, and maximum space size of 12,000 square feet.
