Historic Lown Mercantile

701 N. 5th StreetSpearfish, SD

Exclusively Listed By:Sandra RundeCCIM, SIOR, Commercial Broker605-391-7500skrunde@gmail.com

Chris LongCCIM, Commercial Broker605-939-4489chris@rapidcitycommercial.com

Keller Williams Realty Black Hills2401 W. Main St. | Rapid City, SD 57702www.rapidcitycommercial.com

For Sale $2,375,000

Overview: Welcome!This restored historic property is the gem of downtown Spearfish, and an excel-lent investment opportunity. All 3,621 square feet of space upstairs and 4,181square feet of space downstairs is traditional stone work, stained glass win-dows and hardwood floors -- true to the style of 1893. With spacious floorplans, it has the capability of transforming into any number of potential uses.The upper floor is currently vacant and would make an amazing high end officesuite, complete with cabling throughout, large open windows, class A ameni-ties and a large outside patio with great hills views. The main floor currentlyboasts one of the highest rated restaurants in Spearfish: Steerfish Steak andSmoke. With a long term lease in place, it is a great opportunity to owner oc-cupy the 2nd floor and let the lease on the 1st floor make a large portion of thepayment or give a nice return on your investment.

Highlights Locally well-known building

Full break kitchen upstairs, commercialkitchen on the main floor.

Cherry wood floors with foam insulation forsound proofing between floors

Murano Italian Glass light fixtures and top-end track lighting

Bose Audio System with wireless mics andsound system

Historic and original pieces of furniturethroughout the building

On and off-street parking

Upstairs fireplace built of Sandstone broughtfrom Colorado near Estes Park

Stainless steel kitchen appliances

Large outdoor patio with beautiful views ofthe hills and downtown Spearfish

Property Information:

Lawrence County Tax Information:

Parcel ID: 32030-02200-060-002016 Taxes Payable 2017: $8,447.04

(Taxes Include Lot 5)

Legal Description:Original Town of Spearfish, All of Lot 6 BLK

22

Financial Data Available Upon RequestWith Signed Confidentiality Agreement

Special Assessments: $473.00

The Lown Mercantile is an ideal location for any business looking tobe centrally located in the heart of downtown Spearfish. Locatedright next door to the city administration building it would be idealfor engineering firms, law offices or any professional firm lookingfor a class A image.

The 2nd level floor plan is wide open and ready for an open col-laborative workspace or could easily be divided to provide the de-sired privacy of individual offices while keeping a suite with greatnatural light on all sides. The space has 13’ ceilings, tall windows,beautiful hardwood floors, a sandstone fireplace, and three privaterestrooms, one of which contains a shower. The kitchen upstairsboasts granite counter tops, a double oven/warming oven, stovetop and Cherry wood cabinets that would serve as a perfect highend break room. The back door leads out onto the pergola coveredspacious deck. The back deck features Trex Decking and has accessto the elevator shaft and equipment storage.

The main floor is Steerfish Steak and Smoke, a restaurant that ishighly popular with the locals. They are a tenant with a long termlease in place that will transfer with the sale. An excellent invest-ment opportunity, the restaurant has a high-end feel in a contem-porary-rustic environment.

Sandstone fireplace and seating area upstairs

Upstairs kitchen and bar

Customized Amenities:

“The comprehensive ground-up restoration of the building entailed full exterior/interior restoration in accordancewith the Department of Interiors Standards for Historic Restoration, which included all new state of the art HVAC,plumbing and electrical service, as well as new EPDM membrane roof, all of which is fully documented. Subsequentto the restoration, the only exterior maintenance (exclusive of the landscape/grounds) that has been required is thepainting/staining of the exterior windows and the door frames as well as the heavy timber structure… this process isperformed every 5 years regardless of need.” -- Todd Crowe (Owner)

Amenities:

No deferred maintenance

Honor Award for Restoration by theSDSHPO

Programmable HVAC system

Upper level is wired with Cat5 and hasfloor receptacles every 8 ft.

Has a complete sound system (includingexterior terrace) as well as bothhard-wired and wireless microphones

Floor cavity between upper and lowerlevels is fully insulated with closed cellpolyurethane foam insulation and theroof has R-60 insulation

Hardwood floors on the lower level wererefinished in 2014

Floorplans:

Main Floor

Upper Floor - Of-fice Space

These floor plans are a limited sketch of the space andshould not be used to reference actual features. Not toscale.

Bar and Beer Cooler

Kitchen

Prep

Downstairs tobasement

Front Entry

Kitchen Restrooms &Busser’s room

Available for lease at$21.00/sq ft NNN

Land:

Area Maps

Lot 5

Lot 6

Steerfish Bar

Class A Finish

Collaborative

Upstairs Kitchen

Exterior Elevator Shaft

FireplaceOpen Office

Steerfish Dining Area

Additional Photos:

The Area:

Disclaimer: All information contained herein has been given to us by the owner of the property or other sources wedeem reliable. We have no reason to doubt its accuracy, but we do not guarantee it. All information should be

verified by purchaser prior to purchase or lease.

Located in the northern Black Hills betweenMount Rushmore National Memorial and DevilsTower National Monument, Spearfish gives youeasy access to miles of easy, moderate andstrenuous walking, hiking and biking trails—allwith views that won’t disappoint. Enjoy theFish Hatchery, the city parks, as well as finedining and shopping.

2016 was the 75th Anniversary forMount Rushmore National Monument

In all of America, there is only one Spearfish. Uniquein its blend of history, beauty, small-town charm,and big city amenities, Spearfish is truly a wonderfulcommunity. Over the last decade, Spearfish hasexperienced steady growth. People of all ages havebeen attracted to the community, not only for itsbeauty but also for the quality of life. Spearfish is acomplete community, offering excellent healthcare,high quality education, friendly neighborhoods andlow crime rate.

Spearfish is widely known as one of the fastestgrowing communities in the Midwest. Spearfish hastransformed itself from what once was a smallagrarian community, to what is now a“metropolitan” rich area, fueled by a diverse mix ofbusiness & industry. Why has Spearfish becomesuch a hotbed of activity? Let us provide you somereasons:

The (Great!) Reasons: CNBC Names South Dakota 2013 Best Place to Do Business

Lower Cost of living translate to lower cost of doingbusiness

No state personal income tax, no corporate income tax,no personal property tax and no business inventory tax!

Spearfish Economic Development Corporation has thecapacity to provide custom incentive proposals toqualified businesses seeking to expand or relocate.