Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Mobile Home Park Development Opportunity Title is generated by Realmo AI

    440 CR 232, Durango, CO 81303

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $3,200,000

    Thriving mobile home park with development potential near downtown.

    Added:
    Aug 29, 2024
    Days on Market:
    637
    Last Refresh:
    May 13 at 8:25 pm

    Property Features for 440 CR 232

    General Information

    Standard status
    Active
    Property subtype
    Other

    We can help!

    Listing Contact
    Aaron Peterson

    Listing agent Aaron Peterson

    Listing office The Wells Group of Durango, LLC

    Listing date Aug 29, 2024

    Source Xome

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of The Wells Group of Durango, LLC

    HighLights

    • Prime location near downtown, major thoroughfare, Three Springs community, and hospital campus.
    • Thriving mobile home park with existing income stream.
    • Outstanding development potential in a rapidly growing area.
    • Breathtaking views.
    • Rare and exceptional investment opportunity.
    • 3 Guest Facilities

    Overview

    This mobile home park presents an investment opportunity with development prospects. The property is located in a prime area with views, minutes from downtown, along a major thoroughfare, and across from the Three Springs community and hospital campus. This location offers access to services. The property is located in the Grandview area. The property can be maintained as a mobile home park or developed. Opportunities like this are rare.
    Property Profile Location Intelligence

    Current Use by Public Records

    Mobile home & RV ...

    Suggested Use

    Restaurant Real Estate Agency Spa & Massage Center Dental Office Building Supply Auto Repair Shop Gym & Fitness Center Pharmacy Big Box & Wholesale Store Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Durango
    County
    La Plata
    State
    Colorado
    Longitude
    -107.8250998
    Latitude
    37.2262465

    Nearby Similar for Sale

    • $1,175,000
      3,888 SF

      Durango Multifamily Property For Sale

      Multifamily property in Durango, Colorado, with 3,888 square feet.
      3226 W 4th Avenue, Durango, CO 81301
      View Details
    • $1,795,000
      5,749 SF

      Durango Commercial Property for Sale

      Commercial property in Durango, Colorado with 5,749 square feet.
      2929 Main Ave, Durango, CO 81301
      View Details
    • $1,600,000
      6,200 SF

      Durango Commercial Property For Sale

      Commercial property in Durango, Colorado with 6,200 square feet.
      1449 Florida Road, Durango, CO 81301
      View Details
    • $1,495,000
      5,533 SF

      Durango Commercial Property for Sale

      Commercial property in Durango, Colorado, with 5,533 square feet.
      3533 Main Avenue, Durango, CO 81301
      View Details
    • $1,450,000
      15,000 SF

      Durango Commercial Property for Sale

      Commercial property in Durango, Colorado, with 15,000 square feet.
      1043 Main Avenue, Durango, CO 81301
      View Details
    • $2,050,000
      15,000 SF

      Durango Commercial Property for Sale

      Commercial property in Durango, Colorado, with 15,000 square feet.
      1043 Main Avenue, Durango, CO 81301
      View Details
    • $725,000
      3,900 SF

      Durango Commercial Property for Sale

      Commercial property in Durango, CO, offering approximately 3,900 square feet.
      960 E Second Avenue, Durango, CO 81301
      View Details
    • $1,590,000
      1,080 SF

      Durango Commercial Property For Sale

      Commercial property in Durango, Colorado, with retail and automotive potential.
      39 Kaycee Lane, Durango, CO 81303
      View Details
    • $1,875,000
      4,840 SF

      Durango Commercial Property for Sale

      Commercial property in Durango, Colorado, with 4,840 square feet.
      145 E College Drive, Durango, CO 81301
      View Details
    • $1,700,000
      3,775 SF

      Durango Commercial Building For Sale

      Commercial building with 3775 square feet of space in Durango.
      1129 Main Ave, Durango, CO 81301
      View Details
    • $1,500,000
      6,115 SF

      Durango Commercial Property For Sale

      6,115 square foot commercial property on 0.76 acres.
      659 Tech Center Drive, Durango, CO 81301
      View Details
    • $2,475,000
      4,840 SF

      Durango Commercial Retail Opportunity

      Retail space available in Durango, Colorado.
      145 E College Drive, Durango, CO 81301
      View Details

    FAQs

    What type of property is this?
    Mobile home & RV park - Thriving mobile home park with development potential near downtown.
    Where is this mobile home & rv park located?
    The property is located at 440 CR 232 Durango, CO.
    What is the asking price?
    The asking price for this property is $3,200,000.
    What are key features of this property?
    This property features: Prime location near downtown, major thoroughfare, Three Springs community, and hospital campus.; Thriving mobile home park with existing income stream.; Outstanding development potential in a rapidly growing area.
    We can help!
    Listing Contact
    Aaron Peterson
    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
    440 CR 232, Durango, CO 81303
    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!