Listed by Mike Bulich (605-786-8107) with Berkshire Hathaway HomeServices Midwest Realty. Unique downtown Rapid City investment opportunity with multiple possibilities! Located directly behind the historic Pillen Optical Building, this non-conforming duplex is commercially zoned, offering potential to continue its current residential use or explore conversion to commercial space, subject to applicable city requirements and approvals. The property features two units, including a 1-bedroom, 1-bath upper apartment and a 2-bedroom, 1-bath main-level unit with basement access, plus a single-car garage. Its downtown location creates opportunities for rental income, office or commercial use, or a larger redevelopment vision utilizing both neighboring properties. Property must be sold with, or simultaneously with, the Pillen Optical Building at 501 Kansas City Street, MLS #178324. The list price of $600,000 is for both properties (711 5Th street & 501 Kansas City). Two neighboring downtown properties with income potential, commercial zoning, and flexibility for future use.
For sale
$600,000
711 5th St, Rapid City, SD 57701
--beds
--baths
--sqft
Duplex
Built in 1934
-- sqft lot
$573,300 Zestimate®
$--/sqft
$-- HOA
What's special
Single-car garageTwo units
- 1 day
- 59
- 1
Likely to sell faster than
Zillow last checked:
Listing updated:
Listed by:
MICHAEL BULICH 605-786-8107,
BERKSHIRE HATHAWAY HOMESERVICES MIDWEST REALTY
Source: Black Hills AOR,MLS#: 180788
Facts & features
Interior
Heating
- Electric, Baseboard
Cooling
- Window Unit(s)
Features
- Windows: Window Coverings
- Has basement: Yes
Property
Parking
- Parking features: Paved
Features
- Exterior features: Private Entrance
- Has view: Yes
- View description: City
Lot
- Size: 2,613 Square Feet
- Features: Interior Lot
Details
- Parcel number: 3701176009
- Zoning description: Unknown
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Duplex
Materials
- Roof: Composition
Condition
- Year built: 1934
Community & HOA
Community
- Security: Smoke Detector(s)
- Subdivision: Original Town
Location
- Region: Rapid City
Financial & listing details
- Tax assessed value: $166,800
- Annual tax amount: $2,214
- Date on market: 8/31/2026
- Lease term: Month To Month
Estimated market value
$573,300
$545,000 - $602,000
$1,281/mo
Price history
| Date | Event | Price |
|---|---|---|
| 8/31/2026 | Listed for sale | $600,000+200% |
Source: | ||
| 10/13/2024 | Listing removed | $200,000 |
Source: BHHS broker feed #170638 Report a problem | ||
| 9/20/2024 | Listed for sale | $200,000 |
Source: | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $2,214 -2.3% | $166,800 +2.5% |
| 2024 | $2,267 -2.8% | $162,800 +1.1% |
| 2023 | $2,332 +9.3% | $161,100 +4.9% |
| 2022 | $2,134 | $153,600 +19% |
| 2021 | -- | $129,100 +21.8% |
| 2020 | $1,811 +18.8% | $106,000 +20.7% |
| 2019 | $1,524 -4.3% | $87,800 -3.6% |
| 2018 | $1,593 +12.6% | $91,100 +9.9% |
| 2017 | $1,414 | $82,900 -22.3% |
| 2016 | $1,414 -30.8% | $106,700 -0.9% |
| 2015 | $2,044 | $107,700 +1.2% |
| 2014 | $2,044 | $106,400 |
Find assessor info on the county website
Monthly payment
Est. payment





