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LOCATION, LOCATION, LOCATION! Opportunity awaits at 523 Spearfish Canyon Road, ideally positioned at the gateway to beautiful Spearfish Canyon. Formerly home to a restaurant this 3,600 sq. ft. commercial building sits on .47 acres and offers a versatile combination of customer-facing and functional business space in a location that is hard to beat. For additional information or to schedule a private tour, contact: Cher Rhoades Oak & Key Realty 605.639.1158 Inside, you’ll find approximately 2,100 sq. ft. of newly updated retail/restaurant space, offering a great foundation to bring your business vision to life. An additional 1,500 sq. ft. of warehouse and storage space provides valuable room for inventory, equipment, deliveries, or behind-the-scenes operations. The property is served by city water, private sewer, and natural gas, and the recently updated interior provides a fresh canvas for its next owner. Whether you envision a restaurant, retail storefront, specialty shop, showroom, service-based business, or an entirely new concept, the possibilities here are endless. With a highly visible location along Spearfish Canyon Road and one of the Black Hills’ most recognizable destinations just beyond your doorstep, this is an opportunity you won’t want to overlook. Bring your vision, make the space your own, and let your next business venture start at 523 Spearfish Canyon Road!

Highlights

  • Commercial Sale
  • 0.47 Acre Lot
  • 51 days on Market

  • Construction Materials
    Frame
  • Parking Features
    Gravel, Asphalt, Off Street
  • Living Area
    3600.0
  • Flooring
    Tile, Concrete, Wood
  • Cooling
    Central Air
  • Heating
    Forced Air
  • Basement
    Partial

  • Acres
    0.47
  • View
    Hills, Canyon
  • Water
    Public


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Frequently Asked Questions

How do I schedule a tour of 523 Spearfish Canyon?

We can make that happen quickly. Click Tour This Home and we'll connect you directly with our vetted local partner to schedule your visit to 523 Spearfish Canyon.

They know commercial sales in the area well and can give you the guidance you need to buy with confidence.

How do I get more information about 523 Spearfish Canyon?

Click Ask a Question to talk with our team. You already know it is a N/A bed, N/A bath, listed for $995,000. We can talk through recent upgrades, potential seller motivation, how this commercial sale compares to others in Spearfish, and can even get you in to see the property quickly.

How do I get a virtual tour of 523 Spearfish Canyon?

Yes! A virtual tour is available for 523 Spearfish Canyon. Click here to view the full walkthrough and explore every room at your own pace. If you would like a guided virtual showing or have questions along the way, we can connect you with our local expert to walk you through it live.

How much is the monthly mortgage payment for 523 Spearfish Canyon?

With a 20% down payment and a 30-year fixed loan at an illustrative 7.25% rate, the ez Mortgage Calculator estimates the monthly payment for 523 Spearfish Canyon at around $5,662. This includes estimated property taxes and insurance.

Want to see how this changes with different down payments or interest rates? Jump to the calculator to run the numbers and fine-tune your plan.

How do I get pre-approved to buy 523 Spearfish Canyon?

Stand out in a competitive market by getting pre-approved today. Our quick and private pre-approval process helps you understand your true buying power—no credit pull required to explore all of your options.

Or, let us connect you with our preferred local lender in Lawrence County. They will give you all of your available financing options, based on your specific situation and what is available to you.

Can I negotiate the asking price for 523 Spearfish Canyon?

In most cases, yes. Whether 523 Spearfish Canyon is priced competitively or not, your best offer depends on your personal situation, the seller's timeline, and recent activity in Spearfish's market. Our preferred local partner will help you craft a strategy—factoring in comparable properties that have sold, timing, and deal structure—to make a smart, strong offer. Click here to ask about negotiation opportunities.

How do I make an offer on 523 Spearfish Canyon?

We can handle that for you. Our preferred local agent specializes in commercial sales in Spearfish and can guide you through every step of the offer process.

You need an expert who is looking out for your best interests. From market valuation to contingencies and timing, they'll help you present a compelling offer that fits your goals. Click Ask a Question to get started today.

What is the price per square foot for this home?

This home is listed at $995,000 with 3,600 sqft of space—that comes out to approximately $276 per square foot.

How long has this property been on the market?

523 Spearfish Canyon was listed on September 19, 2026, which means it's been on the market for 51 days.

Want to keep tabs on it? Click the ♥ to favorite this home and get notified of price drops or changes.

What is the lot size of this property?

523 Spearfish Canyon sits on a 0.47-acre lot, which is 20,473 square feet.

Is 523 Spearfish Canyon still available for sale?

Yes, this home is still available! Click the ♥ to favorite it so you don't miss any changes—or ask our local expert to schedule a time to see it in person.

Source: ez Home Search, MLS Data

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The data relating to real estate for sale on this website comes in part from the Internet Data exchange (IDX) program of the Black Hills Association of REALTORS®. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed. Copyright ©2026 Black Hills Association of REALTORS®. All rights reserved.