1
208-286-2300 for more info

53 Sherman St

Deadwood, SD 57732
7 37000 Sq Ft Price / Sq Ft: $12333.333333333
$3,500,000
Murphy Business & Financial Corporation
  • Date Listed: 11/07/2014
  • Year Built: 1894

We have a fabulous re-development opportunity for one of Deadwood’s truly historic buildings located in the heart of the town at 51, 53 & 55 Sherman St. Deadwood, S.D. The property was built in 1894 by William E Adams, a pioneer and wholesale grocer. Currently known as ‘Deadwood Dick’s’ the property consists of a saloon and restaurant with slot machines located in the bar area. There is an Antique Mall with 25 dealers located on the main floor, basement and Mezzanine. In 1999 two suites opened on the third floor for overnight lodging and later other apartments and rooms were converted into suites and hotel rooms located on a portion of the third floor and the entire fourth floor. Another opportunity has arisen with the recent passing of a statewide gaming bill allowing Keno, Craps and Roulette in Deadwood. This is one of the few buildings in downtown Deadwood that is large enough to house these games and only adds to the property's desirability. The W.E. Adams Building is a National Historic Landmark structure in Historic Deadwood and therefore approved historical restoration/renovation will result in eligibility for tax benefits and an 8 year State property tax moratorium. Your accountant can provide further details on this benefit. The property is unique in relation to all others in the downtown district of Deadwood. It is the third largest building in Deadwood’s Historical District and is easily developed as work has already been completed with regard to the structural basis. Adjacent to public parking, onsite parking for 25 cars, gaming potential of 120 gaming devices (with a four building designation) and can fulfill the requirements for a City Liquor License. This provides a wonderful foundation for a variety of redevelopment opportunities.

1 - 15 of 1 Results