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    Property profile & analytics

    38 Hartford Sd 57033 Hartford, SD 57033

    • Land
    • 25.00 lot acres
    For Sale
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 38 Hartford Sd 57033

    Lot size
    25.00 lot acres
    Property type
    Land

    Description

    This exceptional 25-acre parcel presents a unique investment opportunity in Hartford, South Dakota. Strategically located at the intersection of Colton Road and Highway 38, directly across from West Central High School, this property boasts unparalleled visibility and accessibility. Its prime location offers easy access to Interstate 90, providing convenient connectivity to Sioux Falls, just 10 miles away, and the central core of Hartford. Highway 38 sees 4,324 vehicles daily, while I-90 boasts an impressive 16,090 vehicles per day, ensuring significant traffic exposure for any development. The surrounding area shows substantial residential growth, creating a strong demand for commercial and residential projects. This versatile land is suitable for a variety of developments, including retail, office, and multi-family housing, catering to the needs of a thriving community. The property is available in Fall 2024. The asking price ranges from $4.75 to $8.00 per square foot, reflecting the exceptional potential of this location within a growing small town offering the advantages of proximity to a major city. This presents a fantastic opportunity to capitalize on the dynamic growth of Hartford and its strategic location. The small-town atmosphere combined with the convenience of Sioux Falls makes this a highly desirable area for both businesses and residents.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Hartford
    County
    Minnehaha
    State
    South Dakota
    Longitude
    -96.9282
    Latitude
    43.622

    Comparable in this City

    • Value Estimation by Request
      142.73 Acres

      Hartford

      Land • 142.73 Acres
      0 Hartford, Hartford, SD 57033
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      1.86 Acres

      Western Ave

      Land • 1.86 Acres
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      5.73 Acres

      323 Western Ave

      Land • 5.73 Acres
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    • Value Estimation by Request

      Western Ave

      Land
      0 Western Ave, Hartford, SD 57033
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    • Value Estimation by Request
      1.07 Acres

      Western Ave

      Land • 1.07 Acres
      0 Western Ave, Hartford, SD 57033
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    • Value Estimation by Request
      1.15 Acres

      Opal Ln & Western Ave

      Land • 1.15 Acres
      0 Opal Ln & Western Ave, Hartford, SD 57033
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    Similar Nearby for Sale

    • Contact for pricing
      142.73 Acres

      Hartford Development Land - 142 Acres

      Prime South Dakota development opportunity.
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    • Contact for pricing
      25.00 Acres

      Hartford Commercial Land Investment

      25 Acres, Hwy 38 Frontage, High Traffic
      38 Hartford Sd 57033, Hartford, SD 57033
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    • $340,000
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      Hartford Acreage: Build Your Dream Home

      5.73 Acres, Quiet Rural Living, City Limits
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    • $175,000
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      Hartford Residential Land: 1.86 Acres

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    • Contact for pricing
      1.00 Acre

      Hartford Retail Land - 9 Acres

      Prime retail land, divisible parcels, build-ready.
      46434 Sd-38, Hartford, SD 57033
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    • $515,315

      Hartford Commercial Land - $515K

      Prime commercial land, I-90 access, 3.38 acres.
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    Similar Nearby for Lease

    • $6 SF/Yr
      5,680 SF

      Industrial Warehouse with Office Space

      4,480 SF warehouse with 1,200 SF office for rent.
      26070 Brower Cir, Hartford, SD 57033
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    • $7 SF/Yr
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      Industrial Space with Dock Door

      Industrial space featuring dock door, overhead door, and radiant heat.
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    • $7 SF/Yr
      12,000 SF

      New Construction Warehouse Space Available

      New construction warehouse with office space, available January 2026.
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    • $12 SF/Yr
      16,992 SF

      Hartford Retail or Office Space

      Retail or office space available for lease in Hartford.
      304 South Dakota 38, Hartford, SD 57033
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    • $6 SF/Yr

      Industrial Warehouse with Office Space

      4,480 SF industrial warehouse with fenced parking and storage.
      26070 Brower Cir, Hartford, SD 57033
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    Hartford, SD 57033
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    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
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