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

    TBD Caledonia Trail Custer, SD 57730

    View on Map
    Claim this Listing
    For Sale
    $112,500

    Residential Single Family - Custer, SD

    Type:Single Family Residence
    Lot size:
    2.05 Acres
    Added:
    Feb 14, 2026
    Days on Market:
    76
    Last Refresh:
    May 1 at 12:06 pm

    Property Features for TBD Caledonia Trail

    General Information

    Property type
    Land
    Property subtype
    Single Family Residence
    Zoning
    Residential
    Exterior features
    Trees
    Standard status
    Active
    Lot size
    2.05 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Phil Lampert
    Phil Lampert

    Listing agent Phil Lampert

    Listing office Lampert Properties 239 North 5th Street, Custer, SD

    Listing date Feb 14, 2026

    MLS# 87480 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 Treed Lot Near Forest

    This attractive 2.05-acre residential lot is located in the Caledonia Estates subdivision near Custer, South Dakota. The property is treed, offering privacy and scenic views. The subdivision borders USFS land, and this particular lot adjoins National Forest on two sides, providing seclusion and direct access to Black Hills recreation. Electricity and high-speed fiber internet are available to the lot line. Community lots in the area range from 2 to 5 acres, with established homes throughout the neighborhood. Light protective covenants are in place to help preserve long-term property values. Annual road maintenance is assessed through county taxes. Water wells in the area average around 240 to 400 feet in depth. This property presents a rare opportunity given the limited inventory of 2 to 3-acre lots in the area.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    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 with Pristine Views

      40-acre ranch near Custer, SD, with water access.
      TBD W Argyle Road, Custer, SD 57730
      View Details
    • $299,000

      Southern Black Hills Wooded Oasis

      8.55-acre wooded property near Custer, Hot Springs, and Edgemont.
      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 Lot

      Two-acre lot near Custer with mature trees and utilities.
      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
    • $2,300,000
      8,700 SF

      Prime Custer Mixed-Use Investment

      Renovated mixed-use property with retail and short-term rental income.
      632 Mt. Rushmore Road, Custer, SD 57730
      View Details
    • $239,900

      Ready Lot in Star Valley

      Prepared lot with foundation, utilities, and RV site near Custer.
      12290 South Star Drive, Custer, SD 57730
      View Details
    • $215,000

      5-Acre Horse Property Near USFS

      5-acre horse property near USFS with creek and camper.
      11895 Pleasant Valley Road, Custer, SD 57730
      View Details
    • $79,500

      Residential Lot in Black Hills

      Residential lot with utilities near Custer's attractions.
      Lot 8, Block 3 Stone Hill, Custer, SD 57730
      View Details
    • $355,000

      Custer Acreage with Utilities

      12.61 acre property with utilities near Mickelson Trail.
      12075 True Grit Trail, Custer, SD 57730
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - 2.05-acre residential lot bordering National Forest near Custer, SD.
    Where is this residential land & home lot located?
    The property is located at TBD Caledonia Trail Custer, SD.
    What is the asking price?
    The asking price for this property is $112,500.
    What are key features of this property?
    This property features: Direct access to National Forest on two sides, providing exceptional seclusion and access to Black Hills recreation.; 2.05‑acre treed lot offering privacy and scenic vistas in the desirable Caledonia Estates subdivision.; Electricity and high‑speed fiber internet available to the lot line.
    (605) 391-9358
    We can help!
    Listing Contact
    Phil Lampert
    Phil Lampert
    Real Estate License ID: 3273
    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

    Thank You for Inquiry

    TBD Caledonia Trail, Custer, SD 57730

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!