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    Property profile & analytics

    581 Watiki Way Box Elder, SD 57719-9439

    • Motels
    • 29,196 SF
    • 3.89 lot acres
    OFF-MARKET
    Value Estimations
    $2,760,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US79-0043530
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Motels

    Property Details for 581 Watiki Way

    Year built
    2014
    Lot size
    3.89 lot acres
    Property size
    29,196 SF
    Property type
    Motels
    APN
    21-27-351-021
    APU
    2127351021

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,805,000
      6.5%
      $2,590,000
      7%
      $2,405,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,931,000
      Market price range: $1.23M - $2.93M

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $1,970,000
      Current use
      OFFICE BUILDING
      $3,375,000
      Change: +71% Conversion: Difficult
      RETAIL STORES
      $3,200,000
      Change: +63% Conversion: Difficult
      RESTAURANT
      $3,120,000
      Change: +59% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $2,355,000
      Change: +20% Conversion: Difficult
      MEDICAL BUILDING
      $2,050,000
      Change: +4% Conversion: Difficult
      WAREHOUSE, STORAGE
      $1,715,000
      Change: -13% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Box Elder
    County
    Pennington
    State
    South Dakota
    Longitude
    -103.147
    Latitude
    44.1
    CBSA code
    39660
    CBSA name
    RAPID CITY, SD METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $247,178
    $1,016,700
    $15,712,900
    $16,729,600
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,525,000
      16,142 SF

      621 Watiki Way

      MOTEL • 16,142 SF
      621 Watiki Way, Box Elder, SD 57719-9440
      View Details
    • Value Estimation by Request
      11.10 Acres

      Tbd Mall Dr

      Land • 11.10 Acres
      0 Tbd Mall Dr, Rapid City, SD 57719
      View Details
    • Value Estimation
      $1,400,000
      19,781 SF

      545 Northern Lgts Blvd

      HIGH-RISE APARTMENTS • 19,781 SF
      545 Northern Lgts Blvd, Box Elder, SD 57719
      View Details
    • Value Estimation by Request
      1,040 SF

      14780 228th St

      MINI-WAREHOUSE, STORAGE • 1,040 SF
      14780 228th St, Box Elder, SD 57719
      View Details
    • Value Estimation by Request
      2,912 SF

      Douglas Rd

      MINI-WAREHOUSE, STORAGE • 2,912 SF
      Douglas Rd, Box Elder, SD 57719
      View Details
    • Value Estimation by Request
      4,684 SF

      337 Main Gate Rd

      CAR WASH • 4,684 SF
      337 Main Gate Rd, Box Elder, SD 57719
      View Details

    Similar Nearby for Sale

    • $315,810
      1.00 Acre

      Land in Prime Box Elder Location

      Centrally located land near Ellsworth Air Force Base expansion.
      Tbd Villa Dr, Box Elder, SD 57719
      View Details
    • $200,500
      25.00 Acres

      25 Acres Near Ellsworth AFB

      25 acres of land near Box Elder, South Dakota.
      Tbd Antelope Flt Dr, Box Elder, SD 57719
      View Details
    • $3,750,000
      24.76 Acres

      Development Opportunity Near Ellsworth AFB

      Commercial site ready for multifamily or mixed-use development.
      Tbd Liberty Blvd, Box Elder, SD 57719
      View Details
    • $286,320
      2.39 Acres

      Prime Location in Box Elder

      Centrally located acreage near Ellsworth Air Force Base expansion.
      Tbd Villa Dr, 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
    • Contact for pricing

      Land For Sale

      Land available for sale in Box Elder, South Dakota.
      117 S Gate Rd, Box Elder, SD 57719
      View Details

    Similar Nearby for Lease

    • New
      $1.00 SF/Yr
      54,450 SF

      Finished Office in High-Traffic Center

      Move-in ready office space in a busy Box Elder location.
      475 Villa Dr, Box Elder, SD 57719
      View Details
    • $12 SF/Yr
      10,000 SF

      Strategic Frontage Rd Warehouse

      10,000 SF Warehouse - Box Elder
      208 Frontage Rd, Box Elder, SD 57719
      View Details
    • Contact for pricing

      Premium Strip Center Unit Available

      2,181 SF suite in high-traffic strip center.
      475 Villa Dr, Box Elder, SD 57719
      View Details
    • New
      $1.00 SF/Yr
      23,087 SF

      Retail Space in Box Elder

      New construction retail space with drive-thru opportunity.
      441 N Ellsworth Rd, Box Elder, SD 57719
      View Details
    • $1.00 SF/Yr
      16,000 SF

      New Industrial Warehouse in Box Elder

      New construction warehouse with flexible layout options in Box Elder, SD.
      4651 Seger Dr, Box Elder, SD 57719
      View Details
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    581 Watiki Way
    Box Elder, SD 57719-9439
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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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