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    Turn-Key Commercial Space For Sale Title is generated by Realmo AI

    12 Hotchkiss Avenue, Colona, CO 81403

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    For Sale
    $385,000

    Highway corner location with high traffic and expansion potential.

    Type:Mixed Use
    Property size:
    739 SF
    Price / SF:
    $520/SF
    Added:
    Feb 15, 2022
    Days on Market:
    1561
    Last Refresh:
    May 13 at 8:02 pm

    Property Features for 12 Hotchkiss Avenue

    General Information

    Standard status
    Active
    Size
    739 SF
    Property subtype
    Mixed Use

    Building Details

    Year Built
    1979

    We can help!

    Listing Contact
    George (Andrew) Williamson

    Listing agent George (Andrew) Williamson

    Listing office Telluride Real Estate Corp

    Listing date Feb 15, 2022

    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 Telluride Real Estate Corp

    HighLights

    • Turn‑key business opportunity with equipment, fixtures, decorations, and furnishings included
    • High traffic location on Highway 550 with 3.5 million passersby annually
    • Drive‑thru access for convenient customer service
    • Large back patio with exceptional views
    • Potential for expansion with 2+ lots
    • Easy highway access due to recently constructed turn lanes

    Overview

    Located on the corner of Highway 550 and Main Street in Colona, this 739-square-foot commercial space presents an opportunity for ownership. The site, which was the location of the first railroad stop in Ouray County, is situated in an area settled and homesteaded in the 1880s. The property includes equipment, fixtures, decorations, and furnishings. It also features a large back patio with views and a drive-thru. With over 3.5 million passersby and limited options for coffee, sandwiches, quick bites, or ice cream along the highway between Ouray and Montrose, the location offers potential. The property includes more than two lots, providing room for expansion. Recently constructed turn lanes facilitate highway access for Highway 550 traffic.
    Property Profile Location Intelligence

    Current Use by Public Records

    Coffee shops

    Map

    City
    Colona
    County
    Montrose
    State
    Colorado
    Longitude
    -107.891
    Latitude
    38.4027

    Nearby Similar for Sale

    • $1,695,000
      7,240 SF

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      View Details
    • $1,695,000
      7,240 SF

      Historic Colona Commercial Core Gem

      Unique commercial assemblage with event space and office complex.
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    FAQs

    What type of property is this?
    Coffee shop - Highway corner location with high traffic and expansion potential.
    Where is this coffee shop located?
    The property is located at 12 Hotchkiss Avenue Colona, CO.
    What is the asking price?
    The asking price for this property is $385,000.
    What are key features of this property?
    This property features: Turn‑key business opportunity with equipment, fixtures, decorations, and furnishings included; High traffic location on Highway 550 with **3.5 million passersby annually**; Drive‑thru access for convenient customer service
    We can help!
    Listing Contact
    George (Andrew) Williamson
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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.

    More about this property
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