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    Productive Farmland with Development Potential Title is generated by Realmo AI

    0000 Hwy 44, Parkston, SD 57366

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    Claim this Listing
    For Sale
    $1,480,000

    Vacant Land - Parkston, SD

    Lot size:
    74.00 Acres
    Added:
    Mar 16, 2026
    Days on Market:
    68
    Last Refresh:
    May 22 at 12:06 am

    Property Features for 0000 Hwy 44

    General Information

    Property type
    Land
    Property subtype
    Other
    Parking features
    Garage
    Standard status
    Active
    Lot size
    74.00 Acres

    Taxes and HOA fees

    Tax Annual Amount
    1495

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Geoff Kleinschmit

    Listing agent Geoff Kleinschmit

    Listing office American Legacy Land Company 26003 Deer Dr, Humboldt, SD

    Listing date Mar 16, 2026

    MLS# 11674077 Listing URL

    Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 74+/- acres of highly productive agricultural land with a Soil Productivity Index of 83.9, indicating strong yield potential.
    • Exceptional commercial and developmental potential due to its location on the edge of Parkston and visibility from HWY 44.
    • Strategic location north of HWY 44 and west of Old HWY 37, offering easy access and high visibility.
    • Ben Street splits the property, adjacent to thriving commercial properties.
    • Suitable for expanding farming operations, investing in South Dakota farmland, or securing land for long‑term development.
    • Includes a garage.

    Overview

    This 74-acre tract of agricultural land is located on the southeast edge of Parkston, South Dakota. The property, positioned just north of HWY 44 and west of Old HWY 37, features a Soil Productivity Index of 83.9, indicating strong yield potential. Ben Street splits the property, where commercial properties currently exist. The location offers visibility from a major HWY corridor, creating opportunities for future growth and expansion. The property combines farmland with commercial and developmental potential. It is suited for expanding current farming operations, investing in productive South Dakota Farmland, or securing land with long-term development upside.
    Location Intelligence

    Current Use by Public Records

    Agricultural land / Farmland

    Map

    City
    Parkston
    County
    Hutchinson
    State
    South Dakota
    Longitude
    -97.97899
    Latitude
    43.38945

    FAQs

    What type of property is this?
    Agricultural land / Farmland - 74-acre farmland near Parkston, SD, with commercial development opportunities.
    Where is this agricultural land / farmland located?
    The property is located at 0000 Hwy 44 Parkston, SD.
    What is the asking price?
    The asking price for this property is $1,480,000.
    What are key features of this property?
    This property features: 74+/- acres of highly productive agricultural land with a Soil Productivity Index of 83.9, indicating strong yield potential.; Exceptional commercial and developmental potential due to its location on the edge of Parkston and visibility from HWY 44.; Strategic location north of HWY 44 and west of Old HWY 37, offering easy access and high visibility.
    (605) 553-3755
    We can help!
    Listing Contact
    Geoff Kleinschmit
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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