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 War Bonnet Rd Custer, SD 57730

    Sponsored
    For Sale
    $1,238,000

    Acreage - Custer, SD

    Lot size:
    51.52 Acres
    Days on Market:
    206
    Last Refresh:
    Feb 20 at 2:06 am

    Property Features for Tbd War Bonnet Rd

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Lot size
    51.52 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Lori Svoboda
    Lori Svoboda

    Western Skies Real Estate (605) 673-2433

    Listing agent Lori Svoboda (605) 673-2433

    Listing date Jul 30, 2025

    MLS# 84375 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

    Custer Acreage with Development Potential

    This 51.52-acre property, located 7 miles west of Custer on HWY 16 and 2 miles north on North Pole Road, presents multiple potential uses. It is suitable as a ranchette or an investment property. The land could be subdivided for individual lot sales or used to build a home while maintaining agricultural status. The property adjoins the Black Hills National Forest, offering extensive recreational opportunities. There is good access to utilities, and neighboring properties have good wells. The property is located on War Bonnet Road in Custer, SD 57730.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Ranches

    Map

    City
    Custer
    County
    Custer
    State
    South Dakota
    Longitude
    -103.73840828094
    Latitude
    43.766899674164

    Nearby Similar for Sale

    • $375,000
      20.00 Acres

      20-Acre Ranch with Black Hills Views

      20 acres with utilities, fencing, and Black Hills views.
      W Argyle Rd, Custer, SD 57730
      View Details
    • $1,675,000
      4,552 SF

      Luxury New Construction on 5 Acres

      Move-in ready, luxury new construction home on a 5-acre retreat.
      25809 Sidney Trl, Custer, SD 57730
      View Details
    • $1,750,000
      1,216 SF

      Secluded Black Hills Retreat

      70-acre private property with pond, orchard, campground, and home.
      11755 Pleasant Valley Rd, Custer, SD 57730
      View Details
    • $1,400,000

      Established Bakery & Cafe For Sale

      Profitable bakery and cafe with apartment in high-traffic Custer location.
      541 Mount Rushmore Rd, Custer, SD 57730
      View Details
    • $395,000
      1,504 SF

      Custer Cabin on Wooded Acres

      Cozy 3-bedroom cabin on 3 acres near Custer, SD.
      25094 Forest Park Rd, Custer, SD 57730
      View Details
    • Contact for pricing
      1,495 SF

      Prime Custer SD Commercial Space

      Main Street basement suite, 1495 sq ft.
      648 Mt. Rushmore Rd, Custer, SD 57730
      View Details
    • $230,000
      1.50 Acres

      Custer Commercial Land - Prime Location

      1.5-Acre Lot, Stunning Views, Utilities Available
      Tbd Wazi Ln, Custer, SD 57730
      View Details
    • $1,200,000
      0.10 Acres

      Prime Custer Bakery & Cafe

      Established Eatery w/ Apartment
      541 Mount Rushmore Rd, Custer, SD 57730
      View Details
    • $338,888
      0.34 Acres

      Custer Commercial Lots - High Visibility

      Prime Custer location, two lots, high traffic.
      Tbd Mt. Rushmore Rd, Custer, SD 57730
      View Details
    • $355,000
      0.56 Acres

      High-Traffic Custer Commercial Lot

      Prime Custer location, high visibility, 0.56 acres.
      631 Mt. Rushmore Rd, Custer, SD 57730
      View Details
    • $1,275,000
      5,345 SF

      25389 Mccurran Ranch Rd

      Multifamily properties • 5,345 SF
      25389 Mccurran Ranch Rd, Custer, SD 57730
      View Details

    FAQs

    What type of property is this?
    Agricultural land - 51.52 acres near Black Hills National Forest, Custer, SD.
    Where is this agricultural land located?
    The property is located at Tbd War Bonnet Rd Custer, SD.
    What is the asking price?
    The asking price for this property is $1,238,000.
    What are key features of this property?
    This property features: - Adjoins Black Hills National Forest offering unlimited recreational opportunities.; - Potential for subdivision and individual lot sales.; - Suitable for building a dream home and maintaining Ag status.
    (605) 517-0785
    Request Owner's contact information
    Tbd War Bonnet Rd Custer, SD 57730
    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 War Bonnet Rd
    Custer, SD 57730
    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 War Bonnet Rd Custer, SD 57730
    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
    Lori Svoboda
    Lori Svoboda
    (605) 517-0785 (605) 673-2433
    Learn more
    Google sign-in failed. Please try again or use another login method.