Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Acre Lot Near Pagosa Springs Title is generated by Realmo AI

    397 River Run Drive, Pagosa Springs, CO 81147

    View on Map
    Claim this Listing
    For Sale
    $79,900

    Residential - Pagosa Springs, CO

    Type:Single Family Residence
    Lot size:
    1.00 Acre
    Added:
    Jan 22, 2026
    Days on Market:
    109
    Last Refresh:
    May 11 at 8:06 pm

    Property Features for 397 River Run Drive

    General Information

    Property type
    Land
    Property subtype
    Single Family Residence
    Standard status
    Active
    Lot size
    1.00 Acre

    Utilities

    Water front features
    Waterfront
    Water front
    1

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Leland Riley

    Listing agent Leland Riley

    Listing office Jann C Pitcher Real Estate 2261 Eagle Drive, Pagosa Springs, CO

    Listing date Jan 22, 2026

    MLS# 830868 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

    • One acre property with septic system already installed for a three‑bedroom home.
    • Electric panel installed and ready for RV hookup.
    • No covenants or HOA restrictions.
    • Good year‑round access and waterfront feature.
    • Combination of wooded area, meadow, and creek on the property.
    • Convenient location: Just 10 minutes from Pagosa Springs' amenities (shopping, restaurants, hospital, golf course).

    Overview

    This one-acre property, located just 10 minutes from the shopping, restaurants, hospital, churches, and a 27-hole golf course in Pagosa Springs, Colorado, offers a blend of wooded area, meadow, and creek. The property features a septic system already installed for a three-bedroom home, along with an electric panel ready for RV hookup. There are no covenants or HOA. The location provides good year-round access. Pagosa Springs is known for having the deepest hot springs in the world, and the Wolf Creek Ski area is known for receiving the most snow of any ski area in Colorado. The adjacent property, which includes a small cabin and cistern, is also available.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Restaurant Real Estate Agency Building Supply Auto Repair Shop Pharmacy Veterinary Clinic Travel Agency Cosmetic Store Pet Store Pet Grooming Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Pagosa Springs
    County
    Archuleta
    State
    Colorado
    Longitude
    -107.151565
    Latitude
    37.239402

    Nearby Similar for Sale

    • $790,000
      5,558 SF

      Income-Producing Commercial Property For Sale

      Commercial property in Pagosa Springs with income and value-add opportunity.
      2115 & 2117 Eagle Drive, Pagosa Springs, CO 81147
      View Details
    • $1,795,000
      8,244 SF

      Turn-Key Restaurant & Retail Property

      Restaurant and gift shop on 2.95 acres with highway frontage.
      401, 407 & X E Pagosa Street, Pagosa Springs, CO 81147
      View Details
    • $1,900,000
      9,848 SF

      Turn-Key Restaurant & Brewery Opportunity

      Fully equipped restaurant, brewery, and distillery-capable property for sale.
      118 N Pagosa Boulevard, Pagosa Springs, CO 81147
      View Details
    • $550,000

      Prime Commercial Location in Pagosa

      Versatile commercial property with utilities in place, near Wolf Creek.
      225 E Pagosa Street, Pagosa Springs, CO 81147
      View Details
    • $650,000
      3,150 SF

      Pagosa Springs Warehouse with Highway Frontage

      Turn-key warehouse with highway frontage, ideal for cultivation.
      163 Goldmine Drive, Pagosa Springs, CO 81147
      View Details
    • $595,000
      2,340 SF

      Golf Course Fronting Duplex

      Income-producing duplex in Pagosa Springs, Colorado, with strong rental demand.
      430 E Golf Place, Pagosa Springs, CO 81147
      View Details
    • $300,000

      Mixed-Use Lots in Pagosa Springs

      Prime mixed-use lots with Highway 160 visibility and mountain views.
      842 & 850 Rosita Street, Pagosa Springs, CO 81147
      View Details
    • $159,000

      Pagosa Springs Camper with Storage

      Turn-key mountain getaway with camper, deck, and storage.
      1207 West View, Pagosa Springs, CO 81147
      View Details
    • $195,000

      Commercial Land in Established Area

      0.82-acre commercial parcel ready for development in Pagosa Springs.
      555 Bastille Drive, Pagosa Springs, CO 81147
      View Details
    • $395,000
      400 SF

      Tiny Home on 5 Acres

      Custom tiny home and RV spot near downtown Pagosa Springs.
      201 Pineview Road, Pagosa Springs, CO 81147
      View Details
    • $4,200,000
      29,000 SF

      Pagosa Springs Highway Industrial Investment

      2.14-acre site with two multi-tenant buildings totaling 29,000 SF.
      543 and 583 Navajo Trail Drive, Pagosa Springs, CO 81147
      View Details
    • $695,000
      5,760 SF

      Pagosa Springs Industrial Live-Work Property

      Live and work in this industrial property near the airport.
      783 Industrial Circle, Pagosa Springs, CO 81147
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - One-acre lot with septic and electric near Pagosa Springs.
    Where is this residential land & home lot located?
    The property is located at 397 River Run Drive Pagosa Springs, CO.
    What is the asking price?
    The asking price for this property is $79,900.
    What are key features of this property?
    This property features: One acre property with septic system already installed for a three‑bedroom home.; Electric panel installed and ready for RV hookup.; No covenants or HOA restrictions.
    (970) 946-3856
    We can help!
    Listing Contact
    Leland Riley
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    397 River Run Drive, Pagosa Springs, CO 81147
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!