24.95 Acres in Rapid City, SD - $6,100,000

NEW LISTING LOCATION! LOCATION! LOCATION! Four prime development lots are being sold as one unit—an exceptional opportunity for developers, investors, or businesses seeking a strategic foothold in one of Rapid Valley’s fastest-growing commercial corridors. Perfectly situated just off Hwy 44, at the high-exposure corner of Elk Vale and Concourse (also fronting Jubilee), and positioned directly beside the Safeway lot, this property offers unparalleled visibility and access. It is a high-traffic, high-growth location surrounded by established businesses, new construction, and expanding residential neighborhoods that continue to fuel demand for services, housing, and retail.

The seller has already invested over half a million dollars into professional studies, engineering, surveys, and due-diligence work for a previously approved 540-unit high-end apartment project known as Quail Ridge. Notably, the development received approval for two TIFs—one city and one county—underscoring strong municipal support and the economic potential of this site. With city water and sewer already stubbed in on the lots, a significant portion of the heavy lifting has been completed for the next owner.

Multiple access points create substantial flexibility for layout, traffic flow, and future planning—whether your vision includes multifamily, mixed-use, hospitality, retail, or a combination of uses. The prominent corner on the southeast side of the Concourse/Elk Vale junction is ideally suited for a convenience store or gas station, offering maximum exposure and an easy-access footprint. The remainder of the acreage is wide-open with countless development possibilities, benefiting from steady commercial momentum and continuous vehicle counts along both Elk Vale and Hwy 44. This property represents a thriving commercial opportunity in an area buzzing with possibility and positioned for long-term success. Listed at $5.61/SF. The seller is open to partnering with a qualified buyer with strong capital or potentially acting as the banker by holding a contract for deed, offering creative pathways to bring your project to life. Come take a look—your next major development could begin right here!