Beaver Lake Campground
Custer, SD
Asking price
$2,400,000
Sites
—
Cap rate
—
Price / site
—
About this property
Beaver Lake Campground is an established 103-unit RV park on 19.46 acres along US Hwy 16 just west of Custer. Located in the southern Black Hills, the property provides convenient access to downtown Custer and major attractions including Crazy Horse Memorial, Custer State Park and Mount Rushmore National Memorial. The campground offers RV, tent and cabin accommodations across wooded sites with a strong mix of guest amenities. A heated seasonal pool, recreation areas, laundry facilities and multiple bathhouses serve guests throughout their stay, while on-site retail, propane, and firewood complement the core operation. The 3,520 SF main building houses the office, store, laundry, guest facilities and a three-bedroom owner/manager apartment. Additional buildings and operational infrastructure are in place throughout the property, including a rec hall, shop, garage, two pump houses, two storage sheds, and a pool equipment room. Campground FF&E is included in the sale, with financial information available to qualified buyers upon signed NDA.
All details
Figures are transcribed from the source listing as published. “Source page last checked” is when our crawler last fetched that page — it is not a check of the financials and not confirmation from the broker.
| Asking price | $2,400,000 |
|---|---|
| Address | 12005 U.S. 16 |
| First seen by UnitListed | Sep 19, 2026 |
| Source page last checked | Sep 19, 2026 |
| Source last changed | Sep 19, 2026 |
Trade area
We have not resolved this listing to a US county yet, so there is no public-record context to show. This happens when a listing has no precise location, or sits outside the United States.
Before you call the broker
8 things are not disclosed on this listing. These are the questions that would close the gap — specific to a park, not a generic list.
Net operating income — not disclosed
What is the trailing twelve-month NOI, and what does it include and exclude?
The single number a lender will size debt against. Ask what is excluded — management fees and reserves are the usual omissions.
What period the financials cover — not disclosed
Are these figures trailing twelve months, last calendar year, or projected?
A projected stabilised NOI and a current operating NOI can differ by a third, and both get called "NOI".
Gross income and operating expenses — not disclosed
Can you share a trailing twelve-month profit and loss, with the expense lines itemised?
NOI alone hides whether income is high or expenses are being under-reported. The split is what you underwrite.
Reason for sale — not disclosed
Why is the owner selling, and how long have they held it?
Never published on a listing, always worth knowing. Retirement and a looming capital bill are very different situations.
Site count and hookup mix — not disclosed
How many sites are there, and how many are full-hookup, partial or tent?
Full-hookup sites earn a multiple of what a tent site does. The count alone does not tell you the income.
Operating season and seasonal mix — not disclosed
Is this year-round or seasonal, and what is the split between seasonal, monthly and transient guests?
A seasonal park with a five-month window is a different business from a year-round one at the same annual revenue.
Utility infrastructure — not disclosed
Are water, sewer and electric municipal or private, and what condition is the infrastructure in?
A private septic or well at end of life is a capital item that can exceed a year of NOI, and it will not appear in the expenses.
Permits and non-conforming use — not disclosed
Is the current site count permitted, and is any of it legal non-conforming?
A park operating more sites than it is permitted for cannot be financed at the income it shows.
Asking price — disclosed
Currency of the asking price — disclosed
Whether the land is included — disclosed
What has changed
Every date below is when we observed a change, not when it happened. We first saw this listing on Sep 19, 2026; that is not the same as when it came to market, and we have no way to know the latter.
- Sep 19, 2026First seen by UnitListed
The asking price has not changed across any of our observations.
