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    Lakefront Recreational Land Tract Title is generated by Realmo AI

    TBD County Road 25 A, Wallace, SD 57272

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    Claim this Listing
    For Sale
    $45,000

    Vacant Land - Wallace, SD

    Lot size:
    10.75 Acres
    Added:
    Dec 10, 2025
    Days on Market:
    174
    Last Refresh:
    Jun 2 at 11:06 pm

    Property Features for TBD County Road 25 A

    General Information

    Property type
    Land
    Property subtype
    Other
    Parking features
    Garage
    Standard status
    Active
    APN
    020197
    Lot size
    10.75 Acres

    Taxes and HOA fees

    Tax Annual Amount
    308

    Utilities

    Water front features
    Wflake, Waterfront
    Water front
    1

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Katie Graeb

    Listing agent Katie Graeb

    Listing office Whitetail Properties Real Estate, LLC 121 S. Madison St, Pittsfield, SD

    Listing date Dec 10, 2025

    MLS# 11617203 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

    • 10.75‑acre parcel on Kings Lake in Codington County with shoreline and lake access
    • Property is not buildable under current regulations, suited for recreation and long‑term natural enjoyment
    • Approximately 1 acre of upland for staging, parking, or boat launch depending on seasonal conditions
    • Kings Lake supports a multi‑species fishery including walleye, northern pike, largemouth bass, bluegill, crappie, and yellow perch
    • Kings Lake has no official public boat launch, offering a quieter fishing and recreation setting with less traffic
    • Distances to communities: Florence ~8 miles west, Henry ~15 miles south, and Watertown ~25 miles southeast

    Overview

    This offering is an approximately 10.75-acre recreational land tract on Kings Lake that is not buildable under current regulations. The property includes a meaningful portion of shoreline and lake surface ownership, paired with about one acre of upland that can be used for staging and parking for seasonal lake access. Vegetation is primarily native grasses and low-growing lakeside cover, and the terrain gently slopes from higher ground near the roadway toward the lake margin. The setting is designed for low-maintenance, nature-focused enjoyment rather than residential or structural development.

    Kings Lake is a smaller, natural prairie lake in Codington County with a quiet recreational feel and a multi-species fishery, including walleye, northern pike, largemouth bass, bluegill, crappie, and yellow perch. Anglers commonly target productive weed lines, and there is no official public boat launch, which can help keep activity more spread out across the water. The property’s configuration offers a practical way to access the lake for angling and wildlife activities, with owners advised to verify intended uses with Codington County and applicable state agencies.

    Given its unbuildable status and direct relationship to the water, the property is best suited for anglers, bird watchers, paddlers, and hunters where permitted, as well as for adding shoreline enjoyment to nearby owned land. Prospective owners should plan around seasonal lake conditions and changing water levels that naturally shape prairie lake recreation in northeastern South Dakota.
    Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Map

    City
    Wallace
    County
    Codington
    State
    South Dakota
    Longitude
    -97.4345
    Latitude
    45.0654

    FAQs

    What type of property is this?
    Waterfront Land - Unbuildable lakefront acreage with shoreline ownership and access for fishing, paddling, and wildlife viewing on Kings Lake.
    Where is this waterfront land located?
    The property is located at TBD County Road 25 A Wallace, SD.
    What is the asking price?
    The asking price for this property is $45,000.
    What are key features of this property?
    This property features: 10.75‑acre parcel on Kings Lake in Codington County with shoreline and lake access; Property is not buildable under current regulations, suited for recreation and long‑term natural enjoyment; Approximately 1 acre of upland for staging, parking, or boat launch depending on seasonal conditions
    (605) 690-8582
    We can help!
    Listing Contact
    Katie Graeb
    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.

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