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    • Brokers

    Marc Hitchcox, Montrose, CO

    License ID: EA100007474,PersonLicenseNumber
    Years of Experience
    17

    Service Locations

    Contact details

    Phone:
    (970) 729-3055
    Office Address:
    15402 6260 Road, Montrose, CO 81403

    Property Types

    • Commercial Sale
    • Land

    Performance

    Listings
    23
    Total transactions
    124
    Total transactions amount
    $46M
    Price range
    $125k - 1.9M
    Average price
    $371k

    Listings

    For Sale (23)

    View map
    • $299,000
      0.42 Acres

      Ouray Ready-to-Build Residential Lot

      Ready-to-build lot in Ouray with utilities and forest access.
      17 Hinkson Ter, Ouray, CO 81427
      View Details
    • $299,000
      0.42 Acres

      Ouray, CO Residential Land

      Raw land ready to build in the resort City of Ouray.
      16 Hinkson Ter, Ouray, CO 81427
      View Details
    • $79,000
      0.94 Acres

      Land in Fairway Pines

      Residential land in golf course community near Ridgway, Colorado.
      225 Badger Trl, Ridgway, CO 81432
      View Details
    • $79,000
      0.94 Acres

      Residential Land in Golf Community

      Land in Fairway Pines, near Ridgway, perfect for building.
      225 Badger Trl, Ridgway, CO 81432
      View Details
    • $79,000
      0.94 Acres

      Residential Lot in Golf Community

      Residential lot in Fairway Pines, near golf, skiing, and amenities.
      225 Badger Trl, Ridgway, CO 81432
      View Details
    • $99,900
      0.45 Acres

      Residential Land in Brook Subdivision

      Upscale lot with waterfall views, utilities, and HOA irrigation.
      4117 Waterfall Dr, Montrose, CO 81403
      View Details
    • $99,900
      0.45 Acres

      Residential Lot in Brook Subdivision

      Upscale residential lot with utilities and expansive views.
      4117 Waterfall Dr, Montrose, CO 81403
      View Details
    • $249,000
      0.17 Acres

      Ouray Land with Utility Access

      Residential land in Ouray, Colorado, with utilities and development potential.
      140 Fedel Ct, Ouray, CO 81427
      View Details
    • $450,000
      5.97 Acres

      Ouray CO Land Parcel

      5+ acre parcel suitable for development or trophy home.
      2 Oak St, Ouray, CO 81427
      View Details
    • $450,000
      5.97 Acres

      Ouray Land Parcel For Sale

      5+ acre residential land parcel in Ouray, Colorado.
      2 Oak St, Ouray, CO 81427
      View Details
    • New
      $175,000
      35.72 Acres

      Montrose Homesite with Mountain Views

      Private 35.72-acre homesite with panoramic mountain views in Ouray County.
      1910 Bible Camp Rd, Montrose, CO 81427
      View Details
    • $975,000
      14.49 Acres

      Large Residential Parcel in Ouray

      14.49 acre residential land with multi-family zoning in Ouray.
      Tbd Oak St, Ouray, CO 81427
      View Details
    • $175,000
      35.72 Acres

      Montrose Land with Mountain Views

      35.72-acre homesite with mountain views near Montrose, Colorado.
      1910 Bible Camp Rd, Montrose, CO 81427
      View Details
    • $975,000
      14.49 Acres

      Large Parcel in Ouray

      Large R2 zoned parcel in Ouray with mountain views.
      Tbd Oak St, Ouray, CO 81427
      View Details
    • $309,000
      11.57 Acres

      Olathe Agricultural Land Opportunity

      Approximately 11 acres suitable for housing or agricultural development.
      Tbd Riv Rd, Olathe, CO 81425
      View Details
    • $250,000
      0.17 Acres

      Level Lot in Ridgway, Colorado

      Level lot with utilities near shops and restaurants in Ridgway.
      21 N Laura St, Ridgway, CO 81432
      View Details
    • $450,000
      14.51 Acres

      Treed Acreage on Loghill Mesa

      14.51 acres with views, no HOA, includes trailer.
      6101 County Road 1, Montrose, CO 81403
      View Details
    • $450,000
      14.51 Acres

      Treed Acreage on Loghill Mesa

      14.51 acres with views, no HOA, and utilities.
      6101 County Road 1, Montrose, CO 81403
      View Details
    • $250,000
      0.17 Acres

      Ridgway, Colorado Level Lot

      Level lot with utilities near shops and restaurants in Ridgway.
      21 N Laura St, Ridgway, CO 81432
      View Details
    • $249,000
      0.17 Acres

      Ouray Residential Lot For Sale

      Residential lot in Ouray with utilities and multi-family zoning.
      140 Fedel Ct, Ouray, CO 81427
      View Details
    • $309,000
      11.57 Acres

      Olathe Agricultural Land Opportunity

      Approximately 11 acres of agricultural land suitable for development.
      Tbd Riv Rd, Olathe, CO 81425
      View Details
    • $299,000
      0.42 Acres

      Ready-to-Build Lot in Ouray

      Resort city lot with utilities and National Forest access.
      16 Hinkson Ter, Ouray, CO 81427
      View Details
    • $299,000
      0.42 Acres

      Ready-to-Build Lot in Ouray

      Resort city lot with utilities, forest access, and mountain views.
      17 Hinkson Ter, Ouray, CO 81427
      View Details

    Leases and Sales on Map

    • For Sale

    Properties for sale

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    Marc Hitchcox, Montrose, CO
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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    Marc Hitchcox, Montrose, CO
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