TBD E Colorado Blvd, Spearfish, SD 57783

40-acre development opportunity in Spearfish, SD, positioned at East Colorado Blvd & South Rainbow Rd near I-90 Exit 17. Ideal for commercial or multi-use projects, with city infrastructure upgrades, excellent visibility, and proximity to Sky Ridge and the Sportsplex.

About This Property: This exceptional 40± acre parcel offers an unparalleled development opportunity in the thriving city of Spearfish, South Dakota. Situated at the high-visibility intersection of East Colorado Boulevard and South Rainbow Road in Spearfish, SD, this property offers a strategic position between the City of Spearfish and the rapidly expanding Sky Ridge neighborhood and Sports Complex at Exit 17 off Interstate 90.

Land: The East Colorado Boulevard corridor is recognized by the City of Spearfish as a prime area for commercial and multi-use development. The city encourages a diverse mix of residential densities, commercial enterprises, and light industrial facilities within the designated City Services Boundary, which includes this property. The adjacent areas feature C-2 Highway Service Commercial and Development Review District (DRD) zoning, offering significant flexibility for various development types.

Improvements: Essential infrastructure is either in place or planned to support development. A 12-inch water main runs along the south side of East Colorado Boulevard, and fiber optic cable and phone lines are available in the vicinity. The City of Spearfish is actively upgrading the sewer system, with planned expansions to the Elkhorn Ridge sewer lift station. Furthermore, the City is currently undertaking the Colorado Boulevard Widening Project, which includes expanding the roadway to accommodate turn lanes, bike lanes, and improved traffic flow, directly enhancing the accessibility of this property.

General Operations: This prime location offers easy access to regional and national markets via I-90, making it ideal for a wide range of commercial and multi-use developments. The property benefits from significant frontage on both East Colorado Boulevard and South Rainbow Road, ensuring excellent visibility for any future development. Its location near Exit 17 provides convenient access for both local residents and the numerous visitors drawn to the area.

Location: Spearfish is a rapidly growing community with a strong economy. The city boasts a projected population of nearly 14,000 by 2025 and a healthy average household income. The low unemployment rate and positive job growth further underscore the area’s economic vitality. This land is strategically positioned within a dynamic growth area near the Sky Ridge neighborhood and the Sportsplex. The Sportsplex, a regional draw for sports tournaments, generates significant traffic and demand for nearby services. The adjacent Sky Ridge residential development provides a built-in customer base for commercial ventures.