An exceptional investment opportunity awaits with this 79.68-acre property on Colorado Blvd. in Spearfish, South Dakota. Perfectly positioned between the City of Spearfish and the Spearfish Sports Complex at Exit 17, this expansive parcel offers unmatched potential for commercial, industrial, or residential development. This property has electricity, city water, fiber optic cable and phone lines. Located just south of Spearfish Airport at the intersection of Colorado Blvd and Rainbow Rd., this high-visibility property boasts easy access to major transportation routes, making it ideal for businesses, residential, or mixed-use projects. With Spearfish's rapid growth and thriving economy, this is a rare chance to secure a premier piece of land in a sought-after location. Whether you're looking to expand your business, develop a residential neighborhood, or invest in the future of Spearfish, this property is an incredible opportunity. Don’t miss out—contact us today to explore the possibilities! Call Listing Agents Casey Raftevold | 605-863-5282 | or Heath Gran at 605-209-2025 with Great Peaks Realty for more information.
For sale
Price cut: $100K (3/3)
$2,800,000
515 S Rainbow Rd, Spearfish, SD 57783
3beds
1,170sqft
Est.:
Site Built
Built in 1920
79.68 Acres Lot
$2,557,500 Zestimate®
$2,393/sqft
$-- HOA
What's special
High-visibility property
- 81 days
- on Zillow |
- 384 |
- 6 |
Zillow last checked: 7 hours ago
Listing updated: February 06, 2025 at 05:04pm
Listed by:
Casey Raftevold,
Great Peaks Realty,
Heath Gran,
Great Peaks Realty
Source: Mount Rushmore Area AOR,MLS#: 83023

Travel times
Tour with a buyer’s agent
Tour with a buyer’s agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 3
- Bathrooms: 1
- Full bathrooms: 1
Heating
- Natural Gas, Forced Air
Cooling
- Window Evap.
Appliances
- Laundry: Main Level
Features
- Flooring: Carpet, Laminate
- Windows: Single Hung
- Basement: Crawl Space
- Has fireplace: No
Interior area
- Total interior livable area: 1,170 sqft
Property
Parking
- Parking features: No Garage, Other
Features
- Levels: Two
- Stories: 2
- Patio & porch: Open Deck
Lot
- Size: 79.68 Acres
- Features: Few Trees
Details
- Additional structures: Shed(s), Outbuilding
- Parcel number: 210000060320130
- Zoning description: Lawrence County Zoning: General Agricultural
- Horses can be raised: Yes
Construction
Type & style
- Home type: SingleFamily
- Property subtype: Site Built
Materials
- Frame
- Roof: Composition
Condition
- Year built: 1920
Community & HOA
Location
- Region: Spearfish
Financial & listing details
- Price per square foot: $2,393/sqft
- Tax assessed value: $174,501
- Annual tax amount: $1,750
- Date on market: 2/4/2025
- Listing terms: Cash,New Loan
- Road surface type: Paved, Unimproved
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