1620 Concourse Ct

Description:

1620 Concourse Ct is a 4,920 SF single-tenant investment property on 0.80 acres in Rapid City's Rushmore Business Park, near Elk Vale Rd and SD Hwy 44. Built in 1990 and fully remodeled in 2021, the building is configured for childcare use with a reception area, full kitchen, five care rooms, multiple restrooms, a fire protection system, and fenced outdoor play areas. The property is leased to Kindred Spirits, LLC, doing business as Lil Friends Learning Center of RC, through January 31, 2034, with about seven years remaining on the initial 10-year term. The true NNN lease passes real estate taxes, insurance, repairs, maintenance, and capital replacement to the tenant. Base rent increases 5% annually, with two 3-year renewal options. Current base rent is $6,300 per month ($75,600 annually). Twenty on-site parking spaces serve the site. Zoning is Light Industrial. Offered for sale at $900,000. 



Near Elk Vale Rd and SD Hwy 44 in east Rapid City 
Access to surrounding employment areas, residential neighborhoods, and regional routes 
Located in Rushmore Business Park, Pennington County 
Elk Vale Rd (SD Hwy 44 to I-90): 22,009 VPD [CONFIRM source/year] 
Concourse Dr (Concourse Ct to Jet Dr): 3,669 VPD [CONFIRM source/year] 




4,920 SF single-tenant building on 0.80 acres 
Leased through January 31, 2034; about 7 years remaining on the initial term 
True NNN lease: tenant covers taxes, insurance, repairs, maintenance, and capital replacement 
5% annual rent escalations with two 3-year renewal options 
Current base rent $6,300 per month ($75,600 per year) 
Asking price $900,000 ($182.93/SF) 
20 on-site parking spaces 

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