Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    3408 Elk Springs Dr Glenwood Springs, CO 81601

    Sponsored
    For Sale
    $379,000

    LAND - Glenwood Springs, CO

    Lot size:
    2.89 Acres
    Days on Market:
    5
    Last Refresh:
    Feb 6 at 12:06 am

    Property Features for 3408 Elk Springs Dr

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Residential
    APN
    218536213066
    Lot size
    2.89 Acres

    We can help!

    Listing Contact
    Sara Kurz
    Sara Kurz

    eXp Realty, LLC (303) 803-6663

    Listing agent Sara Kurz (970) 379-2148

    Listing date Feb 2, 2026

    MLS# 191167 Listing URL

    Copyright © 2026 Aspen Glenwood MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Premier View Lot in Glenwood

    This 2.887-acre residential lot is located in filing 9 of Elk Springs, offering unobstructed panoramic views stretching from Independence Pass to Mt. Sopris to Sunlight. The lot is situated in an open meadow bordered by a grove of pinon and scrub oak trees to the West. The south end of the lot is adjacent to over 100 acres of dedicated green space, ensuring unobstructed views. All utilities, including natural gas, electric, community water, and sewer lines, have been installed on the lot line. Water and sewer tap fees are paid. Elk Springs is a gated community with access to private walking trails on 1,100 acres of open space. The Elk Springs gate is located 5 minutes from the park/ride at the intersection of Hwy 82, 10 minutes from downtown Glenwood Springs, 20 minutes from the Willits Town Center, and 45 minutes from skiing in Snowmass Village and Aspen. The property is zoned for residential use.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Glenwood Springs
    County
    Garfield
    State
    Colorado
    Longitude
    -107.285705
    Latitude
    39.489058

    Nearby Similar for Sale

    • $550,000
      1,586 SF

      Glenwood Springs Multifamily Investment

      Multifamily property in the heart of Glenwood Springs.
      712.5 Bennett Ave Unit 1 #2, Glenwood Springs, CO 81601
      View Details
    • New
      $4,599,000
      10,000 SF

      Historic Mixed-Use Building For Sale

      Historic downtown Glenwood Springs mixed-use property with retail and apartments.
      725 Grand Ave, Glenwood Springs, CO 81601
      View Details
    • $1,350,000
      3,807 SF

      Glenwood Springs Income Property

      Rare downtown Glenwood Springs income property with endless potential.
      1015 Grand Ave, Glenwood Springs, CO 81601
      View Details
    • $1,350,000
      3,807 SF

      Glenwood Springs Income Property

      Rare downtown Glenwood Springs income property with endless potential.
      Glenwood Springs, CO 81601
      View Details
    • $5,500,000
      15,920 SF

      Historic Glenwood Springs Landmark Building

      Four-story landmark building with development lot in prime location.
      801 Grand Ave, Glenwood Springs, CO 81601
      View Details
    • New
      $815,000
      2,136 SF

      Move-in Ready Office with Mountain Views

      Bright office space in Penrose Plaza, Glenwood Springs.
      2520 S Grand Ave, Glenwood Springs, CO 81601
      View Details
    • New
      $525,000
      1,129 SF

      Glenwood Springs Office Condominium

      Light-filled office space with mountain views and storage unit.
      2520 S Grand Ave, Glenwood Springs, CO 81601
      View Details
    • New
      $675,000
      1,675 SF

      Glenwood Springs Office Condo

      Ground-level office condo with private entrance and parking.
      2520 S Grand Ave, Glenwood Springs, CO 81601
      View Details
    • $975,000
      4,775 SF

      Glenwood Springs Commercial Opportunity

      Prime real estate with existing business and apartment potential.
      820 Grand Ave, Glenwood Springs, CO 81601
      View Details
    • $6,995,000
      29,519 SF

      Freestanding Retail Showroom Building

      Retail/showroom building with I-70 access and high visibility.
      2302 Devereux Rd, Glenwood Springs, CO 81601
      View Details
    • $1,375,000

      Glenwood Springs Commercial Property For Sale

      Downtown commercial property with high visibility and M2 zoning.
      931 Grand Ave, Glenwood Springs, CO 81601
      View Details
    • $230,000
      400 SF

      Sunlight Slopeside Ski-In/Ski-Out Studio

      Ski-in/ski-out studio near downtown Glenwood's dining and hot springs.
      11101 County Road 117, Glenwood Springs, CO 81601
      View Details

    FAQs

    What type of property is this?
    Land - 2.89-acre residential lot with panoramic mountain views.
    Where is this land located?
    The property is located at 3408 Elk Springs Dr Glenwood Springs, CO.
    What is the asking price?
    The asking price for this property is $379,000.
    What are key features of this property?
    This property features: - Unobstructed panoramic views from Independence Pass to Mt. Sopris to Sunlight.; - Adjacent to 100+ acres of dedicated green space ensuring permanent unobstructed views.; - All utilities installed on the lot line.
    (970) 379-2148
    Request Owner's contact information
    3408 Elk Springs Dr Glenwood Springs, CO 81601
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3408 Elk Springs Dr
    Glenwood Springs, CO 81601
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    3408 Elk Springs Dr Glenwood Springs, CO 81601
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Sara Kurz
    Sara Kurz
    (970) 379-2148
    Learn more
    Google sign-in failed. Please try again or use another login method.