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    Spearfish, SD
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    Spearfish, SD Multifamily Properties for Sale

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    Lead, SD Belle Fourche, SD Whitewood, SD Deadwood, SD Sturgis, SD Beulah, WY Aladdin, WY Nisland, SD
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    Downtown 5-Plex Residential Income
    Updated: Mar 9
    Downtown 5-Plex Residential Income

    314 5th Street, Spearfish, SD 57783

    $659,000
    4,305 sqft
    5‑plex in downtown Spearfish with 100% occupancy reported
    All units are 1‑bedroom, 1‑bathroom; basement unit is 2‑bedroom, 1‑bathroom
    4 of 5 units remodeled with new appliances and fixtures, flooring, cabinets, vanities and countertops, sinks and toilets
    Detached garage accessed from the alley plus additional parking and front off‑street parking
    Metal roof; brand new roof installed in summer 2025
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    Duplex with Office Barn and Land
    Updated: Sep 15, 2025
    Duplex with Office Barn and Land

    3225 Old Belle Road, Spearfish, SD 57785

    $900,000
    3,950 sqft 1.62 AC lot
    1.62‑acre property just off Exit 8 with outbuildings, RV parking, and a barn
    Updated duplex rental home with each unit offering 2 bedrooms and 1 bathroom
    Barn is mostly finished and currently leased as an office and storage space
    1967‑built frame and brick construction with composition roof
    Heating includes heat pump, electric, and baseboard; cooling includes wall unit(s)
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    Ranch Duplex with Pole Barn
    Ranch Duplex with Pole Barn

    262 Upper Valley Road, Spearfish, SD 57783

    $525,000
    3,782 sqft 0.52 AC lot

    Duplex-style ranch with walkout lower level, private garages, and large pole barn on a fenced, level lot.

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    Turn Any Listing Into an Investment Snapshot Owner equity, real caprate, demand score for every listing. Go To Analytics Center
    Turnkey 20-Unit Motel Property
    Turnkey 20-Unit Motel Property

    925 North 3rd Street, Spearfish, SD 57783

    $1,700,000
    5,787 sqft

    Zoned C-1 commercial motel/Airbnb with plans for two duplexes and a completed flood study.

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    Three-Unit Residential Income Property
    Three-Unit Residential Income Property

    230 230 1/2 234 W Ohio Street, Spearfish, SD 57783

    $399,000
    0.18 AC lot

    Triplex in Spearfish with three private entrances, updated interiors, and a newer roof and gutters.

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    Furnished Duplex Rental Property
    Furnished Duplex Rental Property

    TBD 1954-1984 Russell Street, Spearfish, SD 57783

    $5,685,000
    3.25 AC lot

    Fully appliance-furnished duplex units with off-street parking and private decks/patios for a turn-key rental setup.

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    Spearfish Multifamily Development Opportunity
    Spearfish Multifamily Development Opportunity

    S 27th Street lot: 12 & 13, Spearfish, SD 57783

    $359,000
    0.57 AC lot

    Half-acre corner lot zoned R3, ideal for multifamily development.

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    Duplex Rental Expansion Property
    Duplex Rental Expansion Property

    TBD 1954-1984 Russell Street, Spearfish, SD 57783

    $5,685,000

    Apartment-style duplexes offer furnished 2-bedroom units with private decks and off-street parking.

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    Based on your search, we've compiled 18 Potential Opportunities for your consideration. Besides 8 Active listings in Spearfish, SD, we suggest exploring several alternatives: 4 properties in Nearby Cities, and similar 2 Off-Market properties to explore as potential leads, plus 4 Land Listings that present a potential for development.

    Opportunities in Nearby Cities

    Here are 4 Similar properties we found in Nearby Locations for your consideration.

    Three-Duplex Multifamily Property
    Three-Duplex Multifamily Property

    802 Miners Avenue, Lead, SD 57754

    $275,000
    3,894 sqft

    This multifamily property consists of three duplexes providing four rental units in total. The unit mix includes one 2-bedroom unit and the remaining spaces are 1-bedroom or efficiency-type layouts. The larger home includes a sun porch, and the property also features a 2-car garage. The seller describes the property as needing major TLC.

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    Four-Plex Residential Income Property
    Four-Plex Residential Income Property

    2100 E Ida St, Sturgis, SD 57785

    $559,900
    4,572 sqft

    Well-maintained four-plex with in-unit laundry hookups, designated storage, and outdoor decks/patios.

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    Remodeled Duplex with Unfinished Basement
    Remodeled Duplex with Unfinished Basement

    8 Baltimore Street, Lead, SD 57754

    $299,900

    Recently remodeled duplex with two 3-bedroom units, updated baths, and shared unfinished basement storage and laundry.

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    Mobile Home Park Land
    Mobile Home Park Land

    543 14th St, Sturgis, SD 57785

    Contact for pricing
    4.40 AC lot

    Land in Sturgis is zoned for mobile homes and currently includes three mobile homes paying lot rents.

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    Potential Development Sites for Consideration

    Can't find the perfect fit? These Land listings present an alternative path: the potential to develop a property for your specific goals.

    Important: These AI-suggestions are a starting point, not a guarantee of permitted use. All zoning, permitting, and land use information must be independently verified by you with the appropriate local authorities before making any commitments.

    Commercial Land with RV Park
    Commercial Land with RV Park

    1003 W Bell St, Glendive, MT 59330

    $435,000
    3.88 AC lot

    Mobile home and RV park with expansion potential in Glendive.

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    Residential Subdivision Land Opportunity
    Residential Subdivision Land Opportunity

    1 Rainbow Estates, Glendive, MT 59330

    $50,000

    49-lot subdivision suitable for various residential development projects.

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    Residential Land in Carpenter, WY
    Residential Land in Carpenter, WY

    Road 201, Carpenter, WY 82054

    $82,000
    6.00 AC lot

    Corner lot with no covenants, manufactured housing allowed.

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    Bellvue Land with Mobile Home
    Bellvue Land with Mobile Home

    277 Riverside Dr, Bellvue, CO 80512

    $200,000
    0.21 AC lot

    Land with mobile home near Poudre River and Chambers Lake.

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    Off-Market Properties in Spearfish, SD

    Consider similar Off-Market properties in Spearfish, SD. You may contact the owners directly to inquire about their potential intentions to sell. To help you make a strong first impression, we can assist by reaching out to these owners with compelling proposals created using our AI tool.

    230 Main St
    Multifamily properties

    230 Main St, Spearfish, SD 57783

    Value Estimation by Request
    8,685 sqft 0.64 AC lot
    View details
    1724 Rustler Cir
    Multifamily properties

    1724 Rustler Cir, Spearfish, SD 57783

    Value Estimation by Request
    4,256 sqft
    View details

    Spearfish, SD Multifamily Properties Market Trends and Statistics

    Explore 10 multifamily properties for sale in Spearfish, SD, showcased through 8 active listings on our real estate platform. These investment opportunities span a total of 17,824 square feet of properties for sale, with an estimated market value of $3,784,000.

    Sale prices for multifamily properties in Spearfish, SD start at $525,000, averaging $946,000, and reaching up to $1,700,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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    Top Commercial Asset Segments

    Commercial property segments ranked by active listings on the market

    Duplexes 4
    Apartment buildings 2
    Short term rental properties 1
    Triplexes 1

    Demographics Overview

    Population 18K
    Population Growth (5Y) +9.0%
    Median Household Income $64,970
    College Educated 47.6%

    High-Yield Neighborhoods for Investment

    Identify Spearfish submarkets with the highest inventory density on the market and evaluate the average listing prices of real estate assets

    Neighborhood Average Price
    Sturgis $900K
    Spearfish $1.6M

    Taxes & Financing

    Tax Rate (average for all types) 1.58%
    Property Tax per SF $27.33 per SF
    Tax Rate vs County Average 0.02 pp below county avg
    Average Loan-to-Value 65.0%

    Listings Trend

    New vs delisted commercial listings in Lawrence County

    New Delisted

    Total CRE Inventory on Market (SF)

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    • 57783
    • 57785

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