Broken Arrow Horse Camp
Custer, SD
Asking price
$2,400,000
Sites
—
Cap rate
—
Price / site
—
About this property
Situated just 4 miles from Custer, South Dakota, Broken Arrow Horse Camp is one of the most successful, beautiful and, highest rated RV parks in the Black Hills region. Visitors are 1 hour from Rapid City, 30 minutes from Mount Rushmore, and 15 minutes from Crazy Horse Memorial and Custer State Park. The campground offers wide open skies, immediate trail access to the Black Hills National Forest, and stunning views of the Needles. Serving both RV and horse riders, the campground has 36 full-hookup, pull-thru sites with 20/30/50 amp service, 7 water and electric sites with 20/30 amp service, 10 cabins, and 4 tent sites. With 9 barns on the property, the campground can house 99 horses and features 3 round pens, a hay barn, electric and water at the barns, and a general store for supplies. The office building contains a laundry room, bathrooms, and the cleanest showers in the state! Open from May 1 through September 30, the campground operations leave you 7 months in the off-season to explore the region or head south with the other snowbirds! Our ratings across all platforms are outstanding and we are immensely proud of the work we do to keep Broken Arrow everyone's favorite summer getaway. Interested buyers will have 3 acres of expansion room on the property. A 3 bedroom, 2 bath home is included with the property. The campground has a trail permit with the United States Forest Service that helps to keep over 50 miles of clean, well marked trails available for our guests to explore. Yearly events like the fireworks at Mount Rushmore, Gold Rush Days in Custer, the Buffalo Roundup at Custer State Park, and the Volksmarch at Crazy Horse will have your guests returning year after year. Owner carry is not an option. Banks will require around $850,000 down to purchase this campground. Call Daniel at 281-743-3973 for any information. Proof of funds or letter of credit will be required before sharing of financial information.
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 |
|---|---|
| First seen by UnitListed | Sep 6, 2026 |
| Source page last checked | Oct 24, 2026 |
| Source last changed | Sep 21, 2026 |
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 6, 2026; that is not the same as when it came to market, and we have no way to know the latter.
- Sep 21, 2026Price reduced$2,600,000 → $2,400,000
- Sep 21, 2026Price reduced
- Sep 6, 2026First seen by UnitListed
