INVESTMENT OPPORTUNITY. With this acquisition, you will be able to step into an existing income producing property located in the downtown Historic District of Hot Springs. Built in 1910 and originally known as the Medical Block Building, the building offers 6320 sf of commercial space with 3 retail/office store front suites on the main level and an upper level with 3 vacation rental apartments. The building has recently undergone an update throughout offering modern amenities. The location of this property is within walking distance from many local restaurants, waterfall, river front walking path and many of the local attractions. The North River Street road reconstruction project which includes a new road, new sidewalks, new street lighting, updating city infra structure and includes the installation of a new cantilevered walkway along Fall River which flows through downtown is complete and looks amazing! The nightly vacation rental business could easily convert into monthly or yearly apartment rentals if new owner so chose. Seller is a licensed real estate broker in Florida and Georgia. Seller will be participating in a 1031 exchange. Buyers should acknowledge. Main level office spaces fully occupied and have steady business and the vacation rental business books regularly and booking calendar will transfer to the new owner. (See VRBO -this platform provides excellent additional information on the amenities of these vacation rentals)
Hot Springs is located in South Dakota. Hot Springs, South Dakota has a population of 3,407. Hot Springs is less family-centric than the surrounding county with 9.06% of the households containing married families with children. The county average for households married with children is 13.6%.
The median household income in Hot Springs, South Dakota is $44,167. The median household income for the surrounding county is $51,007 compared to the national median of $69,021. The median age of people living in Hot Springs is 54.9 years.
The average high temperature in July is 89.8 degrees, with an average low temperature in January of 12.3 degrees. The average rainfall is approximately 17.8 inches per year, with 29.6 inches of snow per year.
