Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Development Lot on Willow Street Title is generated by Realmo AI

    47515 E Willow St, Harrisburg, SD 57032

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Commercial development lot in Harrisburg near major retailers.

    Type:Land
    Lot size:
    1.24 Acres
    Added:
    Aug 14, 2024
    Days on Market:
    646
    Last Refresh:
    Mar 17 at 1:26 pm

    Property Features for 47515 E Willow St

    General Information

    Standard status
    Active
    Lot size
    1.24 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Austin Luecke
    Austin Luecke

    Listing agent Austin Luecke License #SD 21805

    Listing office Bender Commercial

    Listing date Aug 14, 2024

    Source Crexi

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Bender Commercial

    HighLights

    • High‑traffic location with 5,800 vehicles daily at Willow Street and Cliff Avenue.
    • Large 54,014 SF development lot (subject to Right‑Of‑Way).
    • City support for commercial zoning upon annexation.
    • City water available.
    • Close proximity to established businesses.
    • Development opportunity in central Harrisburg.

    Overview

    A development lot is available along Willow Street in central Harrisburg, situated near the intersection of Willow Street and Cliff Avenue, which experiences a daily traffic count of 5,800 vehicles. The property, currently measuring 54,014 square feet, will be subject to providing Right-Of-Way to the City of Harrisburg. City water is available. Neighboring businesses include Dollar Fresh Market, Circle K, Ace Hardware, Fareway, Lewis Drug, Sanford Clinic, Dollar General, and Dairy Queen. The City is expected to support commercial zoning upon annexation. The property is to be sold as-is.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Harrisburg
    County
    Lincoln
    State
    South Dakota
    Longitude
    -96.7047898
    Latitude
    43.4310965

    Nearby Similar for Sale

    • $79,000

      Residential Land in Harrisburg, SD

      Residential land for sale in Harrisburg, South Dakota.
      612 Tom Sawyer Trl, Harrisburg, SD 57032
      View Details
    • $77,000

      Residential Land in Harrisburg, SD

      Residential land for sale in Harrisburg, South Dakota.
      616 Tom Sawyer Trl, Harrisburg, SD 57032
      View Details
    • $81,500

      Residential Land in Harrisburg, SD

      Residential land for sale in Harrisburg, South Dakota.
      610 Tom Sawyer Trl, Harrisburg, SD 57032
      View Details
    • $78,000

      Residential Land in Harrisburg, SD

      Residential land for sale in Harrisburg, South Dakota.
      614 Tom Sawyer Trl, Harrisburg, SD 57032
      View Details
    • $81,500

      Residential Land in Harrisburg, SD

      Residential land for sale in Harrisburg, South Dakota.
      608 Tom Sawyer Trl, Harrisburg, SD 57032
      View Details
    • $395,000

      Acreage Homesite in Lakeview Estates

      Rare opportunity: 2.88 acres in established rural neighborhood.
      27235 Cedar Ridge Ct, Harrisburg, SD 57032
      View Details
    • $62,000

      Residential Land in Harrisburg, SD

      Residential lot in Harrisburg, SD, walkable to local amenities.
      1210 Plainside Ave, Harrisburg, SD 57032
      View Details
    • $81,500

      Residential Lot in Harrisburg, SD

      Residential land for sale in Harrisburg, South Dakota.
      608 Tom Sawyer Trl, Harrisburg, SD 57032
      View Details
    • $63,500

      Residential Land in Harrisburg, SD

      Residential land for sale in Harrisburg, South Dakota.
      1228 Plainside Ave, Harrisburg, SD 57032
      View Details
    • $81,500

      Residential Land in Harrisburg, SD

      Prime residential lot in Harrisburg, SD, walkable to amenities.
      602 Tom Sawyer Trl, Harrisburg, SD 57032
      View Details
    • $81,500

      Residential Land in Harrisburg, SD

      Residential land for sale in Harrisburg, South Dakota.
      604 Tom Sawyer Trl, Harrisburg, SD 57032
      View Details
    • $60,500

      Residential Land in Harrisburg, SD

      Residential land for sale in Harrisburg, South Dakota.
      1216 Plainside Ave, Harrisburg, SD 57032
      View Details

    FAQs

    What type of property is this?
    Commercial land - Commercial development lot in Harrisburg near major retailers.
    Where is this commercial land located?
    The property is located at 47515 E Willow St Harrisburg, SD.
    What is the asking price?
    The asking price for this property is $630,000.
    What are key features of this property?
    This property features: High‑traffic location with 5,800 vehicles daily at Willow Street and Cliff Avenue.; Large 54,014 SF development lot (subject to Right‑Of‑Way).; City support for commercial zoning upon annexation.
    (605) 336-7600 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Austin Luecke
    Austin Luecke
    Real Estate License ID: SD 21805
    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
    47515 E Willow St, Harrisburg, SD 57032
    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!