515 S Rainbow Rd Spearfish, SD 57783
Property details
About 515 S Rainbow Rd
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.
Highlights
(ACTIVE)
Summary
- Full Bathrooms: 1
- Basement: No
- Interior: Carpet, Laminate Flooring
- Total Bedroom Count: 3
- Parking: None
- Architectural Style: Two Level
- Heating: Natural Gas, Forced Air
- Cooling: Evaporative Cooling
- List Price: $2,800,000
- Price/SqFt: $2,393
- Annual Tax Amount: $1,643
- Tax Year: 2024
- Lot: Wooded
- 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.
- Year Built: 1920
- Living Area: 1,170 SqFt
- Lot Size: 79.68 Acres
- MLS Number: 83023
- Office Name: Great Peaks Realty
- Office Phone: (605) 717-7325
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Mount Rushmore Area Association of REALTORS® Multiple Listing Service. Real estate listings held by other brokerage firms are marked with the Broker Reciprocity™ logo and detailed information about them includes the name of the listing brokers. Information Deemed Reliable But Not Guaranteed. The broker(s) providing this data believes it to be correct, but advises interested parties to confirm the data before relying on it in a purchase decision. Copyright 2025 Mount Rushmore Area Association of REALTORS®., Inc. Multiple Listing Service. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 5/11/2025, 8:20:30 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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$2,800,000
515 S Rainbow Rd
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Price information
Property sales
We're sorry, we currently don't have property sales data for this listing.
Tax history
| Year | Assessment | Property Tax |
|---|---|---|
| 2024 | $197,130 | $1,643 |
| 2022 | $213,953 | $1,749 |
| 2019 | $175,870 | $1,834 |
| 2018 | $157,370 | $1,757 |
| 2017 | $158,310 | $1,779 |
History based on county public records data.
Nearby schools
5
Creekside Elementary - 07
Public District 3-5
5.1 mi
•2325 North Ave
8
Whitewood Elementary - 04
Public District PK-6
6.7 mi
•603 Garfield St
4
Lead-Deadwood Elementary - 03
Public District KG-5
6.9 mi
•716 Main St
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $64,856. The majority of Spearfish, SD residents have income between $35k-100k annually. Most families are married, no kids. The most common level of education of people living in this area is post secondary degree.
How much money do the neighbors make?
What level of education do the neighbors have?
What types of families live nearby?
Are the neighbors home owners or renters?
How old are people in this area?
What do the neighbors do for fun?
Hunting
NASCAR
Figure Skating
Where do the neighbors shop?
Dillards
Dick's Sporting Goods
Wal-Mart
Where do the neighbors go to eat?
Cracker Barrel
Texas Roadhouse
Hardee's
What do the neighbors drive?
Cadillac
Subaru
Ram
What do the neighbors listen to?
News/Talk/Information
New Country
Classic Country
Frequently asked questions
Living in Spearfish, SD
Transportation in Spearfish includes a network of well-maintained roads and highways that connect residents to nearby cities and attractions. Public transportation options are available, with schedules that cater to the needs of the community. The town's layout promotes walkability in several areas, particularly in the downtown district, and there are bike-friendly routes for cycling enthusiasts. While specific ride-sharing services are present, they complement the existing transportation infrastructure, offering additional mobility solutions for residents and visitors.
The community is served by a number of public schools, offering education from elementary through high school levels, as well as a local university that contributes to the educational and cultural life of the town. Healthcare services are available, with facilities providing a range of care including primary and urgent care. Spearfish also features a public library, a variety of retail shops, and dining options that reflect the local culture. The city is attentive to the evolving needs of its residents, with initiatives aimed at enhancing services to accommodate growth and demographic shifts.
Spearfish is celebrated for its scenic beauty and outdoor recreational opportunities, including the nearby Black Hills National Forest. The community prides itself on a friendly, small-town atmosphere that is both welcoming and vibrant. Annual events like the Spearfish Canyon Half Marathon and the Downtown Friday Nights showcase the town's active lifestyle and commitment to community engagement.
Spearfish offers a diverse array of housing options, with single-family homes being a significant part of the market. The architectural styles in Spearfish vary, with a mix of modern, ranch-style, and traditional homes. The housing market is dynamic, with a blend of historic homes and newer constructions that cater to a range of preferences. The homeownership rate in Spearfish is robust, reflecting a community invested in long-term residency.
About 515 S Rainbow Rd
The listing price of 515 S Rainbow Rd property is $2,800,000.
The property 515 S Rainbow Rd is a house located in Spearfish, South Dakota, 57783.
Active Listing: 515 S Rainbow Rd is For Sale (Active/New) which means the seller is accepting offers.
The nearby schools for 515 S Rainbow Rd are: Creekside Elementary - 07 (GreatSchools Rating 5/10), Whitewood Elementary - 04 (GreatSchools Rating 8/10), Lead-Deadwood Elementary - 03 (GreatSchools Rating 4/10), Spearfish Middle School - 05 (GreatSchools Rating 6/10), Lead-Deadwood Middle School - 02 (GreatSchools Rating 6/10), Belle Fourche Middle School - 07 (GreatSchools Rating 4/10), Spearfish High School - 01 (GreatSchools Rating 7/10), Lead-Deadwood High School - 01 (GreatSchools Rating 4/10), Belle Fourche High School - 01 (GreatSchools Rating 5/10).
According to the records, the last property tax for 2024 is $1,643 (source: MLS/based on county public records data).
The property at 515 S Rainbow Rd has 3 bedrooms and 1 bathroom.
The property 515 S Rainbow Rd is 1,170 SqFt (source: MLS/tax record).
The year of construction for 515 S Rainbow Rd is 1920.
This home is located at 515 S Rainbow Rd in Spearfish, SD and zip code 57783. This 1,170 square foot home, which was built in 1920, sits on a 79.68 acre lot. Features: 3 bedrooms, 1 bathroom. It has been listed on Rocket Homes since February 4, 2025 and is currently priced at $2,800,000.
In April 2025, from all listings sold in Spearfish, SD there were more than 1 sold above asking price, over 7 sold below and more than 2 were sold right at the asked price. The inventory of homes for sale in Spearfish, SD between March and April 2025 increased by 21.4%.