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

    2008 Harvest Creek Ln lot 1 Madison, SD 57042

    View on Map
    For Sale
    $77,700

    LAND - Madison, SD

    Lot size:
    1.19 Acres
    Added:
    Aug 6, 2025
    Days on Market:
    240
    Last Refresh:
    Apr 2 at 5:06 am

    Property Features for 2008 Harvest Creek Ln lot 1

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Residential
    Standard status
    Active
    Lot size
    1.19 Acres

    Taxes and HOA fees

    TaxDescription
    TBD when plated.

    Utilities

    Utilities
    Cable Available

    We can help!

    Listing Contact
    Adam Foland
    Adam Foland

    Listing agent Adam Foland

    Listing office EXIT Realty Advantage 1020 S Union Ave, Madison, SD

    Listing date Aug 6, 2025

    MLS# 22506052

    Copyright © 2026 Realtor Association of the Sioux Empire MLS. 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 Land Near Lake Herman

    This residential land offers peaceful country living with open views and no backyard neighbors, and is not subject to HOA restrictions. The lot is located near Lake Herman and its public boat landing, and is also near the Madison Golf and Country Club. The property is situated minutes from Madison. The lot size is 1.1932 acres.
    Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Madison
    County
    Lake
    State
    South Dakota
    Longitude
    -97.1868811
    Latitude
    43.9782502

    Nearby Similar for Sale

    • $378,500
      2,568 SF

      Established Bar and Restaurant For Sale

      Profitable bar and restaurant in growing community near college campus.
      123 SW 1st St, Madison, SD 57042
      View Details
    • $249,900

      Prime Corner Lot in Madison

      High-visibility commercial property with expansion potential in Madison, SD.
      325 SE 4th St, Madison, SD 57042
      View Details
    • $140,000

      Scenic Lake View Acreage

      1.84-acre lot with lake views near Madison, South Dakota.
      Stoney Point Rd, Madison, SD 57042
      View Details
    • $125,000

      Residential Land Near Lake Herman

      1.39 acre residential lot near Madison Country Club.
      Bob Price Blvd, Madison, SD 57042
      View Details
    • $649,900
      8,900 SF

      Established Restaurant and Lounge For Sale

      Restaurant and lounge with meeting and banquet rooms available for sale.
      1407 NW 2nd St, Madison, SD
      View Details
    • $114,900

      Commercial Land on Washington Avenue

      Commercial land with utilities on a busy road in Madison.
      400 S Block Washington Ave, Madison, SD 57042
      View Details
    • $79,900

      Residential Land Near Lake Herman

      One-acre residential lot near Lake Herman and Madison.
      2122 Harvest Creek Ln lot: 7, Madison, SD 57042
      View Details
    • $365,000
      1,618 SF

      Established Car Wash Business For Sale

      Profitable, updated car wash business with consistent traffic.
      304 NE 2nd St, Madison, SD
      View Details
    • $190,000

      Lakefront Lot in Madison, SD

      Rare 1.35-acre lot with lake views and boat access.
      Cottonwood CV, Madison, SD 57042
      View Details
    • $380,000
      5,612 SF

      Versatile Mixed-Use Property in Madison

      Mixed-use property near downtown Madison and Dakota State University.
      610 NE 3rd St, Madison, SD 57042
      View Details
    • $900,000
      20,000 SF

      Madison Flex Property Near Airport

      20,000 SF flex building on 5.02 acres for sale.
      1520 NE 3rd St, Madison, SD
      View Details
    • $2,800,000
      34,200 SF

      New Industrial Shop Units Available

      New industrial shop units for sale, built in 2024.
      1301-1337 John Deere Circle, Madison, SD 57042
      View Details

    FAQs

    What type of property is this?
    Land - Residential lot near Lake Herman, Madison Golf and Country Club.
    Where is this land located?
    The property is located at 2008 Harvest Creek Ln lot 1 Madison, SD.
    What is the asking price?
    The asking price for this property is $77,700.
    What are key features of this property?
    This property features: Peaceful country living with open views; No backyard neighbors offering added privacy; Enjoy freedom with no HOA restrictions
    (605) 270-2598
    We can help!
    Listing Contact
    Adam Foland
    Adam Foland
    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!