Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    740 WAPITI Drive Fraser, CO 80442

    View on Map
    For Sale
    $249,000

    LAND - Fraser, CO

    Lot size:
    0.21 Acres
    Added:
    Sep 12, 2025
    Days on Market:
    203
    Last Refresh:
    Apr 2 at 8:06 am

    Property Features for 740 WAPITI Drive

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    158720212001
    Lot size
    0.21 Acres

    Taxes and HOA fees

    TaxYear
    2024
    TaxDescription
    Subd: FRASER - PTARMIGAN SUB Lot: 6 Block: S
    TaxAnnualAmount
    2440

    We can help!

    Listing Contact
    Amy Raschel Jardee
    Amy Raschel Jardee

    Listing agent Amy Raschel Jardee

    Listing office Real Estate of Winter Park PO Box 58 78622 US Highway 40, Winter Park, CO

    Listing date Sep 12, 2025

    MLS# 25-1319

    Copyright © 2026 Grand County Board of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Fraser Land with Development Potential

    This vacant lot is located in a desirable Fraser neighborhood and offers multi-family zoning, presenting development potential. The property features mountain views and a setting near downtown Fraser, which includes breweries, restaurants, a winery, coffee shops, and a grocery store. An outdoor patio area and a bocce ball court are currently on the lot. A recent survey, completed within the past year, is available. The lot size is 0.21 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Map

    City
    Fraser
    County
    Grand
    State
    Colorado
    Longitude
    -105.811146
    Latitude
    39.951056

    Nearby Similar for Sale

    • $675,000
      1,152 SF

      Fraser Townhouse-Style Half Duplex

      Charming two-bedroom plus loft, mountain views, and convenient location.
      830 ERMINE unit: A, Fraser, CO 80442
      View Details
    • $939,000
      2,176 SF

      Fraser Income Property Opportunity

      Income property in Fraser with two units and updates.
      851 MINK Lane, Fraser, CO 80442
      View Details
    • $749,000

      Land in Rendezvous Community

      1.6-acre homesite with mountain views in Fraser, Colorado.
      1055 Pioneer Trail, Fraser, CO 80442
      View Details
    • $975,000
      1,451 SF

      Turnkey Mountain Townhome with Hot Tub

      Furnished 2-bedroom townhome in Rendezvous, near Winter Park Resort.
      35 Mountain Flower Circle, Fraser, CO 80442
      View Details
    • $750,000

      Land in Rendezvous Community

      Flat, nearly 1-acre homesite with mountain views in Fraser, CO.
      222 BRIDGER TRACE, Fraser, CO 80442
      View Details
    • $1,385,000
      2,200 SF

      Modern Fraser Townhome with Riverfront Views

      New construction 3-bedroom townhome with mountain views and river access.
      144 Clayton Court unit: 3, Fraser, CO 80442
      View Details
    • $1,885,000
      2,942 SF

      Stunning Mountain Residence with Views

      Three-story, fully furnished mountain residence with investment potential.
      158 HAY MEADOW Drive, Fraser, CO 80442
      View Details
    • $765,000

      Residential Land with Mountain Views

      Land in Rendezvous neighborhood with views and building potential.
      1996 Pioneer Trail, Fraser, CO 80442
      View Details
    • $1,280,000
      2,468 SF

      Furnished Townhome with Mountain Views

      Refined mountain living in a thoughtfully laid out, furnished townhome.
      731 GCR 834, Fraser, CO 80442
      View Details
    • $320,000

      Land in Ice Box Estates

      Vacant land with well, near trails and downtown Fraser.
      281 GCR 509, Fraser, CO 80442
      View Details
    • $2,022,172
      2,971 SF

      Fraser Townhome with Lockoff Option

      Four-bedroom townhome with lockoff, near trails, shops, and restaurants.
      234 Hay Meadow Drive lot: 33, Fraser, CO 80442
      View Details
    • $695,000

      Fraser Land with Mountain Views

      3+ acre homesite in the Reserve at Elkhorn Ridge.
      148 Revels Run, Fraser, CO 80442
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Vacant lot in Fraser with multi-family zoning and mountain views.
    Where is this residential land & home lot located?
    The property is located at 740 WAPITI Drive Fraser, CO.
    What is the asking price?
    The asking price for this property is $249,000.
    What are key features of this property?
    This property features: Multi‑family zoning allows for significant development potential.; Desirable Fraser neighborhood location.; Breathtaking mountain views.
    (970) 726-2600
    We can help!
    Listing Contact
    Amy Raschel Jardee
    Amy Raschel Jardee
    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!