Improved Mixed-Use Land for Sale in Spearfish, South Dakota
515 S Rainbow Rd
Spearfish, SD 57783






















An exceptional investment opportunity awaits with this 39.68-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! Adjacent 40 acre parcel can also be purchased, see MLS 83023. Call Listing Agents Casey Raftevold | 605-863-5282 | or Heath Gran at 605-209-2025 with Great Peaks Realty for more information.
Directions
From Exit 14 in Spearfish go south to Colorado Blvd and head East for 2.2 miles. Property will be on the right. See Great Peaks Realty signs.
Location
- Street Address
- 515 S Rainbow Rd
- County
- Lawrence County
- Community
- Spearfish
- School District
- Spearfish
- Elevation
- 3,898 feet
Property details
- MLS Number
- MTRAOR 83054
- Date Posted
Detailed attributes
Listing
- Type
- Residential
- Subtype
- Single Family Residence
Structure
- Stories
- 2
- Roof
- Composition
- Heating
- Forced Air
Exterior
- Features
- Outbuilding, Outbuildings, Packing Shed, Paved Street, Shed, Unpaved Street
Interior
- Rooms
- Bathroom, Bedroom x 3
- Floors
- Carpet, Laminate
Listing history
Date | Event | Price | Change | Source |
---|---|---|---|---|
Mar 3, 2025 | Price drop | $1,700,000 | $100,000 -5.6% | MTRAOR |
Feb 7, 2025 | New listing | $1,800,000 | — | MTRAOR |