Home for Sale, 401 N. River St. , Hot Springs, South Dakota 57747

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.