Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    Lot 4 Block 15 Apple Springs Boulevard Sturgis, SD 57785

    View on Map
    For Sale
    $189,000

    Residential Single Family - Sturgis, SD

    Type:Single Family Residence
    Lot size:
    0.24 Acres
    Added:
    Mar 31, 2022
    Days on Market:
    1468
    Last Refresh:
    Apr 6 at 7:06 pm

    Property Features for Lot 4 Block 15 Apple Springs Boulevard

    General Information

    Property type
    Land
    Property subtype
    Single Family Residence
    Standard status
    Active
    Lot size
    0.24 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Heath Gran

    Listing agent Heath Gran

    Listing office Great Peaks Realty 115 E. Hudson, Spearfish, SD

    Listing date Mar 31, 2022

    MLS# 71575 Listing URL

    Copyright © 2026 Mt. Rushmore Area Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Residential Lot in Apple Springs

    Located in the scenic Boulder Canyon, this 0.24-acre residential lot is situated in the Apple Springs Subdivision. The property offers an opportunity to build a dream home or a vacation rental. The location is in the heart of the Black Hills, near hiking, off-roading trails, the Boulder Canyon Country Club, Historic Deadwood, and Sturgis.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Auto Parts Store Bakery

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Sturgis
    County
    Meade
    State
    South Dakota
    Longitude
    -103.6051591
    Latitude
    44.4083039

    Nearby Similar for Sale

    • $995,000
      12,000 SF

      Spacious Facility Near Main Street

      Over 12,000 sq ft facility near Main Street.
      1105 5th Street, Sturgis, SD 57785
      View Details
    • $1,400,000
      11,250 SF

      Sturgis Retail Property on Main

      11,250 SF retail property in downtown Sturgis, South Dakota.
      1219 Main Street, Sturgis, SD 57785
      View Details
    • $599,000
      884 SF

      Sturgis Commercial Land with Building

      High-visibility commercial property with flexible space in Sturgis, South Dakota.
      2221 Lazelle Street, Sturgis, SD 57785
      View Details
    • $239,000

      Black Hills Acreage Building Site

      2.89 acre building site with panoramic views near Deadwood.
      20933 Majestic Heights Road, Sturgis, SD 57785
      View Details
    • $249,000

      Black Hills Building Site

      2-acre building site near Deadwood and Sturgis, South Dakota.
      20930 Majestic Heights Road, Sturgis, SD 57785
      View Details
    • $105,000

      Residential Lot in Apple Springs

      0.63 acre lot near golf, recreation, and Black Hills.
      Lot 1 Block 10 Wildberger Road, Sturgis, SD 57785
      View Details
    • $115,000

      Residential Lot in Apple Springs

      0.55 acre lot near golf course and outdoor recreation.
      Lot 5 Block 6 Covered Wagon Court, Sturgis, SD 57785
      View Details
    • $170,000

      Buildable Lot with Golf Course View

      Premier 0.3 acre lot with utilities in Apple Springs.
      Lot 6A Wildberger Road, Sturgis, SD 57785
      View Details
    • $185,000

      Residential Land with Mountain Views

      6.6 acre lot near Sturgis, suitable for residential development.
      Lot 4 Big Sky Ct., Sturgis, SD 57785
      View Details
    • $700,000
      4,349 SF

      Sturgis Assisted Living Facility

      Established assisted living facility with live/work opportunity in Sturgis.
      1542 Davenport Street, Sturgis, SD 57785
      View Details
    • $159,900

      Residential Lot in Hidden Valley

      Upscale residential lot near Sturgis, build your dream home.
      3726 Twisted Oak Road, Sturgis, SD 57785
      View Details
    • $325,000

      Sturgis Land: Build Your Dream

      4-acre build site near Deadwood and Sturgis.
      Lot 6 Mattson Lane, Sturgis, SD 57785
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Residential lot in the Black Hills near golf and recreation.
    Where is this residential land & home lot located?
    The property is located at Lot 4 Block 15 Apple Springs Boulevard Sturgis, SD.
    What is the asking price?
    The asking price for this property is $189,000.
    What are key features of this property?
    This property features: Located in the scenic Boulder Canyon in the heart of the Black Hills.; Situated within the Apple Springs Subdivision.; Opportunity to build a dream home or vacation rental.
    (605) 209-2052
    We can help!
    Listing Contact
    Heath Gran
    Real Estate License ID: SD 12630
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!