Sign Up Successful!
You now have access to more from Realmo!
    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

    Tbd Elk Vale Rd Rapid City, SD 57701

    Sponsored
    For Sale
    $425,000

    CI Land - Rapid City, SD

    Lot size:
    2.78 Acres
    Days on Market:
    752
    Last Refresh:
    Feb 20 at 12:06 am

    Property Features for Tbd Elk Vale Rd

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Interior features
    High Visibility
    Exterior features
    Hi-traffic Location
    Lot size
    2.78 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Christopher Long

    Keller Williams Realty Black Hills (605) 343-7500

    Listing agent Christopher Long (605) 343-7500

    Listing date Jan 31, 2024

    MLS# 78925 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.

    Learn more

    Property Insight Report

    Overview

    Rapid City Commercial Land Available

    This 2.78-acre commercial land parcel is located at the corner of Elk Vale Road and E Anamosa Street in Rapid City, South Dakota. The site benefits from high visibility and traffic, with a 2022 traffic count of 21,726 vehicles per day. Zoned for general commercial use, the property is suitable for office, retail, gas station, or speculative development. The future connection of E Anamosa Street from E North Street to Elk Vale Road is expected to enhance the site's accessibility, establishing the street as a major thoroughfare between the retail hub of Rapid City and Rapid Valley, along with easement documentation.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Rapid City
    County
    Pennington
    State
    South Dakota
    Longitude
    -103.15277560272
    Latitude
    44.081651092341

    Nearby Similar for Sale

    • $1,350,000
      19,988 SF

      Turn-Key Self-Storage Investment Opportunity

      Well-maintained self-storage facility with high visibility and modern amenities.
      4101 Biernbaum Ln, Rapid City, SD 57701
      View Details
    • $1,250,000
      11,600 SF

      Rapid City Commercial Property For Sale

      Versatile 11,600 SF commercial property with office and industrial space.
      1202 E St. Francis St, Rapid City, SD 57701
      View Details
    • $1,250,000
      11,600 SF

      Versatile Commercial Property in Central Location

      11,600 SF building with office and industrial space.
      1202 E St. Francis St, Rapid City, SD 57701
      View Details
    • $289,000
      1,640 SF

      Updated Duplex in Rapid City

      Up/down duplex with recent updates in Northwest Rapid City.
      3225 W Rapid St, Rapid City, SD 57702
      View Details
    • $825,000

      Rapid City Multifamily Investment Opportunity

      Well-maintained six-unit complex in growing Rapid City.
      201 E Nowlin St, Rapid City, SD 57701
      View Details
    • New
      $549,000
      3,456 SF

      Remodeled Retail Space in Rapid City

      2,136 SF remodeled retail space with additional income potential.
      12300 Highway 44 W, Rapid City, SD 57702
      View Details
    • Contact for pricing
      3,315 SF

      Retail/Office Space with Black Hills Views

      Multi-unit retail and office spaces with planned improvements and outdoor seating.
      7201 Mt. Rushmore Rd, Rapid City, SD 57702
      View Details
    • $1,185,000
      5,992 SF

      Rapid City Office Building For Sale

      Highly visible office building with flexible use options available.
      330 Knollwood Dr, Rapid City, SD 57701
      View Details
    • $1,495,000
      11,843 SF

      Rapid City Office Building Investment

      Well-located office building with suites, investment or owner-occupancy opportunity.
      2620 Jackson Blvd, Rapid City, SD 57702
      View Details
    • $1,575,000
      13,568 SF

      Rapid City Industrial Warehouse Available

      13,568 SF industrial warehouse with office and storage.
      940 Kennel Dr, Rapid City, SD 57703
      View Details
    • $950,000
      5,543 SF

      Rapid City Industrial Land/Building

      Light industrial property with office, warehouse, and yard space.
      1543 Deadwood Ave, Rapid City, SD 57702
      View Details
    • $450,000
      1,920 SF

      Rapid City Commercial Corner Property

      Commercial property with showroom, garage, and highway frontage.
      1585 Valley Dr, Rapid City, SD 57703
      View Details

    FAQs

    What type of property is this?
    Commercial land - 2.78 acres on high-traffic corner, Rapid City, South Dakota.
    Where is this commercial land located?
    The property is located at Tbd Elk Vale Rd Rapid City, SD.
    What is the asking price?
    The asking price for this property is $425,000.
    What are key features of this property?
    This property features: - High-visibility corner location at Elk Vale Rd and E Anamosa St.; - High traffic count of 21,726 vehicles per day (2022).; - Zoned general commercial, suitable for various uses like office, retail, or a gas station.
    (605) 343-7500
    Request Owner's contact information
    Tbd Elk Vale Rd Rapid City, SD 57701
    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.
    Tbd Elk Vale Rd
    Rapid City, SD 57701
    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
    Tbd Elk Vale Rd Rapid City, SD 57701
    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

    We can help!
    Listing Contact
    Christopher Long
    (605) 343-7500
    Learn more
    Google sign-in failed. Please try again or use another login method.