Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Development Opportunity Near Ellsworth AFB Title is generated by Realmo AI

    TBD Liberty Boulevard, Box Elder, SD 57719

    View on Map
    Claim this Listing
    For Sale
    $3,750,000

    Residential Multi - Box Elder, SD

    Lot size:
    24.76 Acres
    Added:
    Jul 22, 2022
    Days on Market:
    1400
    Last Refresh:
    May 21 at 2:06 pm

    Property Features for TBD Liberty Boulevard

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    Multi-Family
    Standard status
    Active
    Lot size
    24.76 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Kevin Andreson

    Listing agent Kevin Andreson

    Listing office Keller Williams Realty Black Hills SP 745 N. Ames St. Unit 1, Rapid City, SD

    Listing date Jul 22, 2022

    MLS# 73215 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.

    HighLights

    • Prime location in Box Elder, near Ellsworth Air Force Base main gate.
    • Direct demand drivers from planned B‑21 mission expansion at Ellsworth AFB.
    • Development‑ready commercial site, fully graded and prepared for multifamily construction.
    • Excellent visibility from Interstate 90.
    • Immediate access to Liberty Boulevard, at the center of residential and commercial expansion.
    • City utilities available and strong infrastructure support in place.

    Overview

    This commercial site in Box Elder, South Dakota, presents a development opportunity in one of the fastest-growing corridors in the Black Hills region. The property is positioned minutes from the main gate at Ellsworth Air Force Base and benefits from the planned B-21 mission expansion, placing it in an area of sustained population and housing demand growth. The site, spanning 24.76 acres, is fully graded and prepared for multifamily construction, with city utilities available and infrastructure support in place. The property offers visibility from Interstate 90 and immediate access to Liberty Boulevard, situating it at the center of residential and commercial expansion related to Ellsworth AFB and the surrounding Box Elder growth corridor. Surrounded by new single-family construction and emerging commercial services, the location is suited for apartments, townhomes, workforce housing, or a mixed-use concept serving military personnel, contractors, and the expanding local workforce. The property's zoning is Multi-Family. The site is located near TBD Liberty Boulevard, Box Elder, SD 57719.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Box Elder
    County
    Pennington
    State
    South Dakota
    Longitude
    -102.972
    Latitude
    44.0896

    Nearby Similar for Sale

    • $399,900
      2,800 SF

      New Self-Storage Facility with Expansion

      New self-storage facility with income stream and expansion potential.
      TBD Antelope Flats Drive, Box Elder, SD 57719
      View Details
    • $800,000

      Commercial Land Near Ellsworth AFB

      4.07 acres of commercial land in Box Elder, South Dakota.
      550 N Ellsworth Road, Box Elder, SD 57719-0000
      View Details
    • $160,000

      Commercial Lot on Radar Hill

      Prime commercial lot with high visibility and utilities available.
      22763 Mule Deer Trail, Box Elder, SD 57719
      View Details
    • $160,000

      Commercial Lot on High-Traffic Road

      Commercial lot with high visibility and established retail synergy.
      22763 MULE DEER TRAIL, Box Elder, SD 57719
      View Details
    • $4,150,000

      Single-Family Rental Portfolio in Box Elder

      19 single-family homes near Ellsworth Air Force Base.
      270 Landmark Court, Box Elder, SD 57719
      View Details
    • $3,000,000
      16,000 SF

      New Industrial Warehouse in Box Elder

      New construction warehouse on 1.91 acres, ready for occupancy.
      4651 Seger Drive, Box Elder, SD 57719
      View Details
    • $1,450,458

      RDO Industrial Subdivision Land

      Last lot available in successful RDO Industrial Subdivision.
      4400 E Mall Drive, Box Elder, SD 57719
      View Details
    • $400,000

      Land Parcel Near Future Development

      Land available near upcoming Cheyenne Blvd and Alpha Omega subdivision.
      14800 Radar Hill Dr, Box Elder, SD 57719
      View Details
    • $2,555,142

      Corner Lot Near Ellsworth AFB

      Commercial land with high traffic, utilities available, near main gate.
      312 Parker Dr, Box Elder, SD
      View Details
    • $200,500

      25 Acres Near Ellsworth AFB

      25 acres of land near Box Elder, South Dakota.
      TBD Antelope Flats Drive, Box Elder, SD 57719
      View Details
    • $219,000
      2,856 SF

      Commercial Land Near Ellsworth AFB

      Prime commercial land suitable for various business ventures.
      306 Hillview Drive, Box Elder, SD 57719
      View Details
    • $699,000

      Commercial Property in Box Elder

      Commercial property for sale in Box Elder, South Dakota.
      4600 E Mall Dr, Box Elder, SD, 57719
      View Details

    FAQs

    What type of property is this?
    Commercial land - Commercial site ready for multifamily or mixed-use development.
    Where is this commercial land located?
    The property is located at TBD Liberty Boulevard Box Elder, SD.
    What is the asking price?
    The asking price for this property is $3,750,000.
    What are key features of this property?
    This property features: Prime location in Box Elder, near Ellsworth Air Force Base main gate.; Direct demand drivers from planned B‑21 mission expansion at Ellsworth AFB.; Development‑ready commercial site, fully graded and prepared for multifamily construction.
    (605) 646-5409
    We can help!
    Listing Contact
    Kevin Andreson
    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 Liberty Boulevard, Box Elder, SD 57719
    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!