Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Historic Mining Land in Black Hills Title is generated by Realmo AI

    TBD Aspen Creek Dr, Lead, SD 57754

    View on Map
    Claim this Listing
    New
    For Sale
    $340,000

    Residential Single Family - Lead, SD

    Type:Single Family Residence
    Lot size:
    15.51 Acres
    Added:
    May 6, 2026
    Days on Market:
    3
    Last Refresh:
    May 8 at 9:06 pm

    Property Features for TBD Aspen Creek Dr

    General Information

    Property type
    Land
    Property subtype
    Single Family Residence
    Zoning
    Other (See Remarks)
    Exterior features
    Trees
    Standard status
    Active
    Lot size
    15.51 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Matt Newton
    Matt Newton

    Listing agent Matt Newton

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

    Listing date May 6, 2026

    MLS# 88582 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

    • Borders BLM land, providing direct access to vast public lands for recreation and exploration.
    • Located minutes from Lead and Deadwood, offering convenient access to amenities, entertainment, and community events.
    • Combines privacy, mountain scenery, and easy access to year‑round outdoor activities (ATV, snowmobiling, hiking, skiing, fishing, hunting).
    • Offers a unique opportunity to own a piece of Black Hills history in the historic mining hills above Lead.
    • Suitable for various purposes: cabin site, recreational getaway, investment, or escape from crowds.
    • Features towering pines, rugged terrain, and incredible views, creating a peaceful mountain atmosphere.

    Overview

    Located in the historic mining hills above Lead, South Dakota, the Paris Lode borders BLM land. This property offers a rare opportunity to own a piece of Black Hills history while enjoying the beauty and recreation of the area. Situated minutes from downtown Lead and Deadwood, the 15.51-acre property combines privacy, mountain scenery, and easy access to year-round activities. It is suitable as a future cabin site, recreational getaway, investment opportunity, or a place to escape the crowds. The surrounding area is rich with history tied to the mining era that helped shape Lead and Deadwood. Nearby are ATV and snowmobile trails, hiking, biking, skiing at Terry Peak, fishing, hunting, and opportunities to explore public land in the Black Hills. Towering pines, rugged terrain, and views create a mountain atmosphere while keeping you close to restaurants, entertainment, and community events. The property is located near Aspen Creek Dr in Lead, SD. This property may appeal to outdoor enthusiasts, history lovers, investors, and those seeking a piece of the Black Hills lifestyle.
    Location Intelligence

    Current Use by Public Records

    Recreation land

    Map

    City
    Lead
    County
    Lawrence
    State
    South Dakota
    Longitude
    -103.913
    Latitude
    44.253

    Nearby Similar for Sale

    • $499,000
      3,000 SF

      Commercial Shop on Main Street

      3,000 sq ft commercial shop in high-traffic location.
      325 E Main Street, Lead, SD 57754
      View Details
    • $329,900

      Remodeled Duplex Near Main Street

      Recently remodeled duplex with modern amenities and convenient location.
      8 Baltimore Street, Lead, SD 57754
      View Details
    • $240,000

      Black Hills Residential Homesite Opportunity

      1.13-acre homesite in the Black Hills National Forest.
      11292 Trailside Loop, Lead, SD 57754
      View Details
    • $254,000

      Powderhouse Pass Residential Lot

      Residential lot in recreation epicenter near Black Hills attractions.
      11291 Trailside Loop, Lead, SD 57754
      View Details
    • $138,000

      Lead Golf Course Residential Lots

      Two residential lots on Lead Country Club Golf Course.
      Lots 14 & 15 Ironwood Lane, Lead, SD 57754
      View Details
    • $95,000

      Residential Lot in Terry Peak

      0.40 acre lot near Terry Peak with scenic views.
      21163 Turkey Trail, Lead, SD 57754
      View Details
    • $105,000

      Residential Lot in Terry Peak

      0.46 acre residential lot near Terry Peak, Lead, SD.
      21179 Turkey Trail, Lead, SD 57754
      View Details
    • $249,000

      Spearfish Canyon Build Site

      Stunning 1+ acre build site in Spearfish Canyon area.
      M.S. 1742 Lot 2 US HWY 14A, Lead, SD 57754
      View Details
    • $390,000

      Residential Lot with Expansive Views

      10.74-acre residential lot in Paradise Acres 2 subdivision.
      Lot 51 Moon Shadow Court, Lead, SD 57754
      View Details
    • $168,000

      Paradise Acres Treed Building Lot

      2.13-acre treed lot near Deadwood and Spearfish.
      Lot 16 Dynasty Road, Lead, SD 57754
      View Details
    • $69,000

      Lead Golf Course Residential Lot

      Residential lot on golf course with utilities and recreational access.
      Lot 15 Block 3 Ironwood Lane, Lead, SD 57754
      View Details
    • $69,000

      Lead Golf Course Lot

      Residential lot on Lead Country Club Golf Course.
      Lot 14 Block 3 Ironwood Lane, Lead, SD 57754
      View Details

    FAQs

    What type of property is this?
    Recreation land - Unique Black Hills property near Lead and Deadwood.
    Where is this recreation land located?
    The property is located at TBD Aspen Creek Dr Lead, SD.
    What is the asking price?
    The asking price for this property is $340,000.
    What are key features of this property?
    This property features: Borders BLM land, providing direct access to vast public lands for recreation and exploration.; Located minutes from Lead and Deadwood, offering convenient access to amenities, entertainment, and community events.; Combines privacy, mountain scenery, and easy access to year‑round outdoor activities (ATV, snowmobiling, hiking, skiing, fishing, hunting).
    (605) 545-4248
    We can help!
    Listing Contact
    Matt Newton
    Matt Newton
    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 Aspen Creek Dr, Lead, SD 57754
    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!