Add Listing
    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

    511 Glen Way Delta, CO 81416

    View on Map
    Claim this Listing
    For Sale
    $1,500,000

    Contemporary, Apartment Bldg. - Delta, CO

    Property size:
    13,376 SF
    Lot size:
    1.00 Acre
    Added:
    Jan 8, 2026
    Days on Market:
    93
    Last Refresh:
    Apr 11 at 2:06 pm

    Property Features for 511 Glen Way

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Size
    13,376 SF
    Lot size
    1.00 Acre

    Building Details

    Year built
    1987
    Architectural style
    Contemporary

    We can help!

    Listing Contact
    Charlotte Martin
    Charlotte Martin

    Listing agent Charlotte Martin

    Listing office HomeSmart Realty Partners P.O. Box 489, Rock Springs, CO

    Listing date Jan 8, 2026

    MLS# 829047 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.

    Overview

    Apartment Building in Delta, Colorado

    This sixteen-unit apartment building is located in Delta, Colorado. Each of the sixteen units features two bedrooms and one bathroom. Tenants are responsible for covering all utility costs. The property is undergoing improvements, including the installation of mini-splits and metal siding. All units have metal roofing. The property is subject to USDA guidelines as low-income units and is encumbered with a USDA, Rural Development contract with restrictions that remain with the property until 2029. The property size is 13,376 square feet and sits on a 1-acre lot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Delta
    County
    Delta
    State
    Colorado
    Longitude
    -108.0569597
    Latitude
    38.7403236

    Nearby Similar for Sale

    • $425,000
      3,659 SF

      Remodeled Restaurant Building with Patio

      Recently remodeled restaurant with outdoor seating in high-traffic area.
      1205 Main Street, Delta, CO 81416
      View Details
    • $589,000

      Secluded Irrigated Acreage with Shed

      50 acres with irrigation, metal shed, and greenhouses near Delta.
      23223 D50 Road, Delta, CO 81416
      View Details
    • $1,150,000
      1,240 SF

      Western Colorado Farm with Water Rights

      107-acre farm with water rights and two residences.
      1449 Highway 50, Delta, CO 81416
      View Details
    • $1,865,000
      1,906 SF

      Productive Farm on California Mesa

      170-acre farm with water rights near Delta, Colorado.
      14179 25 Mesa Rd., Delta, CO 81416
      View Details
    • $425,000

      Remodeled Commercial Building For Sale

      Recently remodeled commercial building with high visibility and outdoor patio.
      1205 Main Street, Delta, CO 81416
      View Details
    • $750,000
      2,960 SF

      Delta Fourplex with USDA Restrictions

      Four-unit residential income property in Delta, Colorado, subject to USDA guidelines.
      775 Columbia Street, Delta, CO 81416
      View Details
    • $775,000
      4,729 SF

      Remodeled Restaurant/Bar on Main St

      Turn-key restaurant/bar in Delta, CO with inventory included.
      220 Main St, Delta, CO, 81416-1836
      View Details
    • $3,500,000
      8,188 SF

      Industrial Facility with Extraction Equipment

      8,188 SF manufacturing/warehouse on 7.02 acres with extraction equipment.
      1760 Gunnison Ave, Delta, CO
      View Details
    • $285,500
      2,663 SF

      Downtown Delta Commercial Space Available

      Fully leased office, retail, or creative space in historic building.
      543 Main St, Delta, CO, 81416-1817
      View Details
    • $3,175,000
      58,900 SF

      High-Visibility Warehouse and Manufacturing Space

      Industrial warehouse with office space and flexible purchase options.
      18610 B50 Rd, Delta, CO
      View Details
    • $265,000

      Highway Frontage Retail Opportunity

      Retail outparcel with high visibility and traffic counts.
      1520 Highway 92, Delta, CO 81416
      View Details
    • $3,500,000
      8,188 SF

      Industrial Property with Extraction Equipment

      8,188 SF manufacturing/warehouse on 7.02 acres with extraction equipment.
      1760 Gunnison Ave, Delta, CO 81416
      View Details

    FAQs

    What type of property is this?
    Apartment building - Sixteen-unit apartment building with ongoing upgrades in Delta, Colorado.
    Where is this apartment building located?
    The property is located at 511 Glen Way Delta, CO.
    What is the asking price?
    The asking price for this property is $1,500,000.
    What are key features of this property?
    This property features: All 16 units are 2‑bedroom, 1‑bath apartments.; Tenants pay all utilities.; Metal roofing on all units.
    (970) 234-3011
    We can help!
    Listing Contact
    Charlotte Martin
    Charlotte Martin
    Real Estate License ID: EA40005061
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!