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    Remodeled Restaurant in Historic Mancos Title is generated by Realmo AI

    123 W Grand Avenue, Mancos, CO 81328

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    For Sale
    $525,000

    Restaurant - Mancos, CO

    Property size:
    2,088 SF
    Lot size:
    0.11 Acres
    Price / SF:
    $251/SF
    Added:
    Mar 30, 2026
    Days on Market:
    52
    Last Refresh:
    May 20 at 2:06 pm

    Property Features for 123 W Grand Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Size
    2,088 SF
    Lot size
    0.11 Acres

    Building Details

    Year built
    1910
    Architectural style
    Other

    We can help!

    Listing Contact
    Bill Stanley
    Bill Stanley

    Listing agent Bill Stanley

    Listing office United Country Blue Sky Homes and Land 2525 E Main Street, Cortez, CO

    Listing date Mar 30, 2026

    MLS# 832990 Listing URL

    Copyright © 2026 Colorado Real Estate Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Extensively remodeled commercial property in the heart of historic and thriving Mancos.
    • Premier location in a growing and vibrant business district.
    • Significant renovations in 2020‑2021 including new roof, ceiling, electrical system, water lines, and cooling/heating systems.
    • Upgraded kitchen and prep areas with improved walk‑in cooler and new appliances.
    • Forced air heating and cooling installed in 2025.
    • Building front replaced with double pane windows while maintaining historical integrity (original construction 1910).

    Overview

    This extensively remodeled commercial property is located in the heart of historic and thriving Mancos. The property, a longtime local landmark currently home to The Columbine Bar and Grill, offers a premier location in a growing and vibrant business district. The property features a well-lit and spacious dining area with a mahogany bar, tongue and groove aspen paneling, and a privacy-fenced back patio. Improvements made to the building in 2020-2021 were extensive and include a replaced roof, ceiling, electrical system, water lines, and cooling and heating systems. Extensive enhancements were made to the kitchen and prep areas with an improved walk-in cooler and all new appliances. A forced air heating and cooling upgrade is planned for installation in 2025. The building front was replaced with double-pane windows, maintaining the historical integrity of the building originally constructed in 1910. The Columbine Bar and Grill business occupies the space as a tenant and is not included in the sale. The property has a lot size of 0.11 acres and a property size of 2088 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Columbine Bar & Grill Bar & Pub

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Fenceline Cidery — 141 S Main St, Mancos, CO 81328
    • El Río Cantina — 140 Mesa St, Mancos, CO 81328
    • Columbine Bar & Grill — 123 Grand Ave, Mancos, CO 81328

    Location Insight

    • Map
    • Local Demand
    City
    Mancos
    County
    Montezuma
    State
    Colorado
    Longitude
    -108.2897811
    Latitude
    37.3449895

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    FAQs

    What type of property is this?
    Bar & Pub - Extensively remodeled commercial property in the heart of Mancos, Colorado.
    Where is this bar & pub located?
    The property is located at 123 W Grand Avenue Mancos, CO.
    What is the asking price?
    The asking price for this property is $525,000.
    What are key features of this property?
    This property features: Extensively remodeled commercial property in the heart of historic and thriving Mancos.; Premier location in a growing and vibrant business district.; Significant renovations in 2020‑2021 including new roof, ceiling, electrical system, water lines, and cooling/heating systems.
    (970) 749-7671
    We can help!
    Listing Contact
    Bill Stanley
    Bill Stanley
    Learn More
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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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