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

    20.57 acres Custer Limestone Road Custer, SD 57730

    View on Map
    For Sale
    $411,400

    Acreage, Frame,Mobile,Modular - Custer, SD

    Lot size:
    20.57 Acres
    Added:
    Jun 17, 2025
    Days on Market:
    294
    Last Refresh:
    Apr 6 at 8:06 am

    Property Features for 20.57 acres Custer Limestone Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Exterior features
    Fenced Perimeter, Hay Barn, Livestock Building, Shed
    Fencing
    Fenced, Perimeter
    Standard status
    Active
    Lot size
    20.57 Acres

    Building Details

    Architectural style
    Other
    Additional Structures
    Barn(s), Packing Shed, Shed(s)

    We can help!

    Listing Contact
    Craig Reindl
    Craig Reindl

    Listing agent Craig Reindl

    Listing office Western Skies Real Estate 523 Mt. Rushmore Rd., Custer, SD

    Listing date Jun 17, 2025

    MLS# 84906 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

    Custer Land with Historical Significance

    This 20+ acre property, once the site of the Crawford Ranch and Sawmill, borders Black Hills National Forest land on two sides. The parcel features hard native grasses, a seasonal creek, limestone outcroppings, old-growth pines, and aspen and birch thickets, complemented by expansive views. The property includes a usable wood barn, a storage/tack building, and a well house. Extensive cleanup has been completed, including the removal of dilapidated corrals, fencing, and an old mobile home. This location is suitable for a hobby farm, mountain cabin, or RV escape.
    Location Intelligence

    Current Use by Public Records

    Agricultural land / Farmland

    Map

    City
    Custer
    County
    Custer
    State
    South Dakota
    Longitude
    -103.767
    Latitude
    43.6653

    Nearby Similar for Sale

    • $399,000

      Custer Land For Sale

      Commercial land with high traffic and great visibility.
      TBD Corral Drive, Custer, SD 57730
      View Details
    • $555,000

      Historic Commercial Building in Custer

      Unique commercial space with high exposure in the Black Hills.
      436 Mt. Rushmore Road, Custer, SD 57730
      View Details
    • $650,000

      Black Hills Ranch Land Opportunity

      40 acres near Custer, SD, ideal for ranching or recreation.
      TBD W Argyle Road, Custer, SD 57730
      View Details
    • $650,000

      Black Hills Ranch with Pristine Views

      40-acre ranch near Custer, SD, with water access.
      TBD W Argyle Road, Custer, SD 57730
      View Details
    • $375,000

      20-Acre Ranch with Black Hills Views

      20 acres with utilities, fencing, and Black Hills views.
      TBD W Argyle Road, Custer, SD 57730
      View Details
    • $599,000

      Black Hills Recreational Land Parcel

      14.89 acres bordering USFS with creek, well, and septic.
      24901 Big Valley Trail, Custer, SD 57730
      View Details
    • $110,000

      Custer, SD Acreage For Sale

      Two-acre lot near Custer with building sites and mature trees.
      LOT 20 Caledonia Trail, Custer, SD 57730
      View Details
    • $119,500

      Buildable Lot with Black Hills Views

      0.45-acre lot in Stone Hill with unobstructed views.
      25 Sidney Park Rd, Custer, SD 57730
      View Details
    • $69,500

      Residential Land with Mountain Views

      Residential lots with views near schools and downtown Custer.
      Lot 8, Block 1 Stone Hill, Custer, SD 57730
      View Details
    • $69,500

      Residential Land with Mountain Views

      Residential lots with views near schools, trails, and downtown.
      Lot 7, Block 1 Stone Hill, Custer, SD 57730
      View Details
    • $185,000

      Custer Acreage with Pond

      3.06-acre partially wooded lot with spring-fed pond near Custer.
      TBD LOT 1 Caledonia Trail, Custer, SD 57730
      View Details
    • $79,500

      Residential Land in Black Hills

      Residential lots with utilities near Custer's attractions.
      Lot 1, Block 2 Stone Hill, Custer, SD 57730
      View Details

    FAQs

    What type of property is this?
    Agricultural land / Farmland - 20+ acre oasis bordering national forest with unique characteristics.
    Where is this agricultural land / farmland located?
    The property is located at 20.57 acres Custer Limestone Road Custer, SD.
    What is the asking price?
    The asking price for this property is $411,400.
    What are key features of this property?
    This property features: Borders Black Hills National Forest on 2 sides, offering direct access to recreational opportunities.; 20+ acre parcel provides ample space and privacy.; Features diverse natural landscape including native grasses, seasonal creek, and a mix of mature and young trees.
    (605) 440-0642
    We can help!
    Listing Contact
    Craig Reindl
    Craig Reindl
    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!