305 W Main St, Lead, SD 57754 For Sale

The Stampmill Inn and Shot in the Dark Saloon is an award-winning (BEST American food restaurant in Lawrence County in 2025—highest Google rated), full-service restaurant and saloon in downtown Lead, South Dakota. On the main floor of this 10,800 sq ft building is the restaurant, saloon, 2 bathrooms and a newly expanded and remodeled kitchen in 2024. A full liquor license comes with this business, which is valued at $100,000. The full-service restaurant seats 60, and an additional 40 when the patio is open. The food trailer accommodates the expanded food and beverage demand when the high-demand patio is open. In fact, the 2023 food trailer almost doubles the kitchen capacity when open. , On the 2nd floor is the boutique Victorian inn comprised of 2, two-room suites with full baths, along with a full laundry and small kitchen. They are unique in that they have a separate entrance to the suites. The Sanford Underground Laboratory (SURF) is gearing up and has created short-term, medium-term, and long-term housing demand. The inn has been able to accommodate different housing support of the scientific researchers’ needs. The 3rd floor is wide-open for the new buyer to create their own vision. This floor has 8 rooms ready for development along with some electricity already installed.

This gem of a building has provided hospitality to Lead residents and visitors in different capacities since 1897. This owner has turned it from a closed-down restaurant into a successful, thriving restaurant, saloon, and inn. And yet, this building/business is positioned for even more growth. There is huge potential to move it even further with the renovation of the 3rd floor into more suites. This upgraded, unique building houses a solid, ongoing business that provides a sorely needed niche in Lead, SD. Upgrades to this property: Roof has been replaced with a rubber membrane roofing material, reconfigured the patio to include more seating and service with the addition of the food trailer, remodeled the kitchen area to make it bigger and more efficient, installed new gas fireplace, replaced the 2nd floor office into an add-on bedroom to a suite, replaced bathroom floorings (both) on main floor, replaced motors in cove heating units in restaurant, upgraded dish washing system, added a soft-water system, upgraded and replaced many different kitchen equipment pieces (see equipment list upgrades). The previous owners had closed down this building and restaurant for 8 months before current owner bought it, got it up and running in 2024, and with a full year of operation in 2025, sales were almost half a million gross. The owner has an improvement contract in place with the Lead Opera House for modification of the rear loading area & parking off Siever St. There will be a new delivery entrance for the Stampmill Inn and a new retaining wall at back, bottom of the extra lot. This modification/improvement is at Opera House's expense so an elevator improvement project can occur. Contract has been signed. Contact listing agent for lengthy legal description.