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$ 3,250,000
Est. payment /mo
Active
701 N 5TH ST Spearfish, SD 57783
8,500 SqFt
UPDATED:
Key Details
Property Type Commercial, Commercial Sale
Sub Type Retail
Listing Status Active
Purchase Type For Sale
Square Footage 8,500 sqft
Price per Sqft $382
MLS Listing ID 180133
HOA Y/N No
Year Built 1893
Lot Size 0.290 Acres
Acres 0.29
Lot Dimensions .29 acres
Property Sub-Type Retail
Property Description
Listed by Randy Olivier, REMAX Advantage, 605-430-6246. Positioned at one of the most recognizable intersections in Spearfish, the Lown Mercantile Building is one of the Black Hills' most celebrated commercial landmarks. Constructed in 1893 and proudly listed on the National Register of Historic Places, this iconic property has long stood as a symbol of Spearfish's remarkable evolution from a frontier trading community into one of South Dakota's premier destinations for tourism, higher education, and commerce. Following an award-winning historic rehabilitation, the building seamlessly blends timeless architecture with modern commercial functionality. Extensive renovations include structural reinforcement, updated mechanical systems, a fully equipped commercial kitchen, restored sandstone exterior, and expanded dining and entertainment areas. A striking timber-framed rear addition further distinguishes the property with multiple outdoor entertainment decks, generous storage, unfinished office space, and infrastructure designed for a future commercial passenger elevator, creating exceptional flexibility while positioning the building for enhanced ADA accessibility. Inside the main level, guests are welcomed into the Six Goats Tavern, featuring soaring ceilings, exposed timber beams, hardwood flooring, rustic architectural details, abundant natural light, and a spacious open dining room centered around an impressive full-service bar. The thoughtfully designed commercial kitchen and prep areas provide efficient service to both the dining and bar spaces, supporting high-volume operations with ease. The currently available second floor is designed for banquets, weddings, corporate events, private gatherings, potential offices, and meetings. 701 5th Street offers an extraordinary combination of historic significance, architectural character, modern infrastructure, and long-term investment potential. Landmark properties of this caliber rarely become available.
Location
State SD
County Lawrence
Area Spearfish
Zoning General Commercial
Interior
Heating Electric
Cooling Central Air
Flooring Tile, Wood
Exterior
Parking Features 11-20, On/Off Street
Utilities Available Natural Gas Connected, Electricity Connected
View Y/N No
View City
Roof Type Rubber
Building
Story 3
Foundation Block
Sewer Public Sewer
Water Public
Others
Virtual Tour https://my.matterport.com/show/?m=3zwpihvpXsU
Listed byRE/MAX ADVANTAGE