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Step into the magnificent Water, Light & Power Building, which stands as the largest and most exceptional historic sandstone building up for sale in Hot Springs. With its prime location on N River Street, this building promises to attract a steady flow of retail traffic, making it an ideal investment opportunity. The property boasts an incredible 10,395 square feet, which includes a 1,358 square feet retail space that currently operates as a salon and spa, a stunning 2-bedroom loft apartment above the salon, and two enormous garages on either side. The north-side garage spans 3,186 square feet and features a 26x20 loading dock, while the south-side garage encompasses 3,780 square feet and includes a basement of approximately 713 square feet that's ideal for storage.
The building underwent a complete overhaul in 2021, with new electrical and plumbing systems, flooring, paint, fixtures, and even LED high-efficiency lights. It's rare to find a historic building that's been so extensively updated! Construction is set to begin in April/May 2023 to install a new roof on the north-side garage and make full repairs to the rest of the building's roofs, along with the addition of a brand-new awning. The parking lot has plenty of spaces, and the location offers a fantastic view, making it an attractive investment opportunity with endless possibilities. Additionally, one of the owners is a licensed broker associate and the listing agent. Resa Rutz C21 Stevens & Associates 605-891-1298
The current leasing situation at the Water, Light & Power Building comprises a salon that wishes to keep its lease, while the loft tenant will vacate before the closing date. The two tenants leasing the garages are currently using them for storage, and their leases expire on May 1, 2023. However, you the buyer, may cancel these leases if desired. The tenants in the garages would be willing to stay if the new owner is agreeable to such an arrangement.
Welcome to Hot Springs, the Southern Gateway to the stunning Black Hills. This area is a haven for outdoor enthusiasts, with a wide range of activities available to enjoy, including hunting, fishing, hiking, and boating. For those seeking relaxation, the warm waters of the Fall River and the serenity of the Freedom Trail offer a peaceful escape from the hustle and bustle of everyday life.
One of the area's most popular attractions is the Angostura Recreation Area, a breathtaking reservoir that provides ample opportunities for boating, fishing, swimming, and camping. Whether you're looking for a day of water sports or a quiet spot to fish, this beautiful location has something for everyone.
When you're ready to explore the town, you'll find plenty of options for shopping, dining, and entertainment. Take a refreshing dip at The Evans Plunge or treat yourself to a relaxing massage at Moccasin Springs Natural Mineral Spa. And, of course, don't forget to take advantage of the town's abundant water supply by trying some of the area's delicious spring water.
With its wealth of natural beauty and close proximity to all the Black Hills has to offer, Hot Springs truly is a water-rich community that is sure to delight visitors of all ages.
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.