Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Prime Norwood Commercial Lot Title is generated by Realmo AI

    1655 GRAND AVENUE, Norwood, CO 81423

    View on Map
    Claim this Listing
    For Sale
    $249,000

    Generous lot in downtown Norwood, ideal for mixed-use development.

    Type:Mixed Use
    Property size:
    8,712 SF
    Lot size:
    0.20 Acres
    Price / SF:
    $28/SF
    Added:
    Jan 4, 2025
    Days on Market:
    514
    Last Refresh:
    May 13 at 8:06 pm

    Property Features for 1655 GRAND AVENUE

    General Information

    Standard status
    Active
    Size
    8,712 SF
    Lot size
    0.20 Acres
    Property subtype
    Mixed Use

    We can help!

    Listing Contact
    Arleen Boyd

    Listing agent Arleen Boyd

    Listing office Pine Cone Realty LLC

    Listing date Jan 4, 2025

    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 Pine Cone Realty LLC

    HighLights

    • Prime Main Street location in downtown Norwood - the only available commercial lot.
    • Zoned for Commercial and Mixed Use - ideal for commercial/residential buildings.
    • High visibility location next to gas station/parts store and across from US Bank.
    • Includes water tap, sewer tap, and new survey (valued at approximately $20,000).
    • New fence surrounds the entire property.
    • Vibrant surrounding area with established businesses and residential neighborhoods.

    Overview

    Located on Main Street in downtown Norwood, this lot offers an opportunity for commercial ventures. It is the only available downtown commercial lot in Norwood. Included with the property are a water tap, sewer tap, and a new survey valued at approximately $20,000, as well as a new fence surrounding the entire property. Situated next to the only gas station in town and the parts store, and across from US Bank, the location provides high visibility and accessibility. The property is suited for mixed-use buildings, allowing for commercial spaces on the ground floor with residential units above. The surrounding area features a mix of established businesses, residential neighborhoods, and amenities. The property size is 8712 square feet.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Norwood
    County
    San Miguel
    State
    Colorado
    Longitude
    -108.2889804
    Latitude
    38.1310368

    Nearby Similar for Sale

    • $2,300,000
      2,768 SF

      Colorado Ranch with Public Land Access

      359-acre ranch bordering National Forest and BLM land.
      1305 Thunder Road, Norwood, CO 81423
      View Details
    • $599,000
      6,490 SF

      Corner Lot in Downtown Norwood

      Commercial land in downtown Norwood, excellent location for development.
      1450 Grand Avenue, Norwood, CO 81423
      View Details
    • $1,125,000

      80 Acres of Land, Norwood

      80 acres of land for sale in Norwood, Colorado.
      80 AC TBD 42ZS Road, Norwood, CO 81423
      View Details
    • $1,195,000

      335 Acres Land in Norwood

      335 acres of land for sale in Norwood, Colorado.
      31U Highway, Norwood, CO 81423
      View Details
    • $174,000

      Norwood, CO Land For Sale

      38.12 acre land parcel in Norwood, Colorado.
      N Gurley Reserve, Norwood, CO 81423
      View Details
    • $239,000

      Gurley Lake Acreage Opportunity

      35-acre lot with recreation access in Western Colorado.
      Lot 36 North Gurley Lake Drive, Norwood, CO 81423
      View Details
    • $249,000

      36.85 Acres with Mountain Views

      Land with utilities, mountain views, and recreation access near Telluride.
      246 La Mesa Vis Dr, Norwood, CO 81423
      View Details
    • $549,000
      6,490 SF

      Downtown Norwood Building on Large Lots

      Large building in downtown Norwood, suitable for various uses.
      1450 GRAND AVE Avenue, Norwood, CO 81423
      View Details

    FAQs

    What type of property is this?
    Commercial land - Generous lot in downtown Norwood, ideal for mixed-use development.
    Where is this commercial land located?
    The property is located at 1655 GRAND AVENUE Norwood, 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: Prime Main Street location in downtown Norwood - the only available commercial lot.; Zoned for Commercial and Mixed Use - ideal for commercial/residential buildings.; High visibility location next to gas station/parts store and across from US Bank.
    We can help!
    Listing Contact
    Arleen Boyd
    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

    Thank You for Inquiry
    1655 GRAND AVENUE, Norwood, CO 81423
    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!