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    Riverfront Subdivision-Ready Land Title is generated by Realmo AI

    102 County Road 156, Glenwood Springs, CO 81601

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    For Sale
    $2,500,000

    LAND - Other - Glenwood Springs, CO

    Type:Single Family Residence
    Property size:
    1,185 SF
    Lot size:
    5.42 Acres
    Price / SF:
    $2,109/SF
    Added:
    Jun 2, 2026
    Days on Market:
    4
    Last Refresh:
    Jun 5 at 12:06 am

    Property Features for 102 County Road 156

    General Information

    Property type
    Land
    Property subtype
    Single Family Residence
    Parking features
    Garage
    Exterior features
    Fence
    Fencing
    Fenced
    Standard status
    Active
    APN
    2185-214-00-015
    Size
    1,185 SF
    Lot size
    5.42 Acres

    Taxes and HOA fees

    Tax Year
    2023
    Tax Annual Amount
    2984

    Utilities

    Water source
    Public
    Water front
    1

    Building Details

    Year built
    1909
    Floors in Building
    2
    Architectural style
    Other
    Additional Structures
    Garage(s)

    We can help!

    Listing Contact
    Gabriel Molnar

    Listing agent Gabriel Molnar

    Listing office DOUGLAS ELLIMAN 630 E HYMAN AVE STE 101, ASPEN, CO

    Listing date Jun 2, 2026

    MLS# 20262607 Listing URL

    Copyright © 2026 Grand Junction Area Association 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.

    HighLights

    • 5+ acre riverfront parcel with extensive river frontage and expansive mountain and valley views
    • Subdivision‑ready for up to ~30 units; 10 lots would meet current zoning minimum lot size
    • Easily buildable topography, valuable water rights included, and city water and sewer already connected
    • Unincorporated Garfield County with no HOA reported
    • Existing home on‑site built in 1909
    • South Bridge connection to Highway 82 planned to break ground in 2026

    Overview

    This riverfront property is subdivision-ready and positioned for flexible development, with extensive river frontage and expansive mountain and valley views. The topography is described as easily buildable, and the offering includes valuable water rights. City water and sewer are already connected, helping streamline the buildout process.

    The parcel totals 5+ acres and is located in unincorporated Garfield County, which the seller notes means no HOA and maximum land-use flexibility. The remarks also describe exceptional privacy while remaining minutes from downtown, the bike path, and an elementary school. The area’s access is also expected to improve as the South Bridge connection to Highway 82 is scheduled to break ground in 2026.

    For buyers looking to develop, the land can support a modest approach or a full buildout: the remarks state that 10 lots meet current zoning minimum lot size, with potential for up to approximately 30 units. This makes the site a practical fit for investors planning lot sales, as well as for owner-developers who want to retain a premier home site while selling off a portion of the subdivision.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Glenwood Springs
    County
    Garfield
    State
    Colorado
    Longitude
    -107.321458
    Latitude
    39.514877

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    FAQs

    What type of property is this?
    Residential land & home lot - Subdivision-ready riverfront acreage with buildable topography, water rights, and city water and sewer already connected.
    Where is this residential land & home lot located?
    The property is located at 102 County Road 156 Glenwood Springs, CO.
    What is the asking price?
    The asking price for this property is $2,500,000.
    What are key features of this property?
    This property features: 5+ acre riverfront parcel with extensive river frontage and expansive mountain and valley views; Subdivision‑ready for up to ~30 units; 10 lots would meet current zoning minimum lot size; Easily buildable topography, valuable water rights included, and city water and sewer already connected
    (970) 366-0379
    We can help!
    Listing Contact
    Gabriel Molnar
    Request Owner's contact information
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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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