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

    49617 Highway 550 Durango, CO 81301

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $3,500,000

    2.9-acre mixed-use redevelopment site in Purgatory Ski Resort.

    Type:Land
    Lot size:
    2.93 Acres
    Added:
    Apr 11, 2025
    Days on Market:
    385
    Last Refresh:
    Jan 20 at 9:21 am

    Property Features for 49617 Highway 550

    General Information

    Standard status
    Active
    Lot size
    2.93 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Jaime Marquez

    Listing agent Jaime Marquez License #EA100030093

    Listing office Coldwell Banker Mountain Properties

    Listing date Apr 11, 2025

    Source Exprealty

    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 Coldwell Banker Mountain Properties

    Overview

    Purgatory Resort Redevelopment Opportunity

    This 2.9-acre mixed-use redevelopment site is located in the heart of Purgatory Ski Resort, north of historic downtown Durango, Colorado. The property features mountain views and highway frontage, providing visibility and year-round accessibility. Originally built in 1969 as the Purgatory Inn, the site is suitable for a boutique hotel, condos, townhomes, apartments, retail spaces, a restaurant and bar, a grocery market, or a coffee shop. La Plata County land use code allows for 3-4 stories in height, depending on the architectural design and proposed use. The property is served by Purgatory Metro District for water and sewer, with La Plata Electric service available on-site. The existing real estate is offered "As Is" with no covenants. A new subdivision of 100 homes at Purgatory Resort was recently approved by the La Plata County Commissioners. Grayrock is located just north of this parcel. This property presents an opportunity to develop a resort property in a premier ski destination.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Restaurant Grocery & Convenience Store Food Market Electrical Service Bar & Pub Wine and Liquor Store Travel Agency Restaurant Supermarket

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

    Location Insight

    • Map
    • Local Demand
    City
    Durango
    County
    La Plata
    State
    Colorado
    Longitude
    -107.81
    Latitude
    37.6305

    Nearby Similar for Sale

    • $725,000
      3,900 SF

      Durango Office Building For Sale

      Office building in the heart of the Second Avenue District.
      960 E Second Avenue, Durango, CO 81301
      View Details
    • $550,000
      4,080 SF

      Durango Office Building Investment

      Well-maintained office building in Bodo Park with income potential.
      484 Turner Drive, Durango, CO 81303
      View Details
    • $1,795,000
      5,749 SF

      Durango Commercial Space for Sale

      5749 sq ft commercial space in the heart of Durango.
      2929 Main Ave, Durango, CO 81301
      View Details
    • $7,500,000
      96,837 SF

      Durango Multi-Use Investment Opportunity

      Class A office, shop, and industrial space on 10 acres.
      380 Airport Road, Durango, CO 81303
      View Details
    • $565,000
      1,506 SF

      Modern Office Condo in Durango

      Remodeled office condo in downtown Durango with parking.
      679 E 2nd Avenue, Durango, CO 81301
      View Details
    • $550,000
      1,592 SF

      Centrally Located Durango Office Condo

      Ground level investment property with six office suites.
      679 E 2nd Avenue, Durango, CO 81301
      View Details
    • $379,900
      2,000 SF

      Versatile Flex Space in Bodo Park

      Updated flex space with warehouse and office functionality in Durango.
      463 Turner Drive, Durango, CO 81303
      View Details
    • $675,000

      Commercial Land Near Durango

      Commercial land parcel with paid water and sewer taps.
      312 Davidson Creek Road, Durango, CO 81301
      View Details
    • $2,050,000
      15,000 SF

      Downtown Durango Mixed-Use Development Opportunity

      Prime downtown development parcel with existing building and parking.
      1043 Main Avenue, Durango, CO 81301
      View Details
    • $3,600,000
      9,746 SF

      Class A Office Building Durango

      High-quality office building in a prime downtown location.
      1910 Main Avenue, Durango, CO 81301
      View Details
    • $258,000
      1,215 SF

      RiverGate Commercial Condo For Sale

      Versatile commercial condo in desirable mixed-use development.
      555 Rivergate Lane, Durango, CO 81301
      View Details
    • $1,450,000
      15,000 SF

      Downtown Durango Development Opportunity

      Prime downtown parcel with redevelopment potential and existing income.
      1043 Main Avenue, Durango, CO 81301
      View Details

    FAQs

    What type of property is this?
    Commercial land - 2.9-acre mixed-use redevelopment site in Purgatory Ski Resort.
    Where is this commercial land located?
    The property is located at 49617 Highway 550 Durango, CO.
    What is the asking price?
    The asking price for this property is $3,500,000.
    What are key features of this property?
    This property features: Prime 2.9‑acre mixed‑use redevelopment site in Purgatory Ski Resort.; Significant highway frontage provides excellent visibility and year‑round accessibility.; Potential for a variety of developments including a boutique hotel, condos, retail, restaurant, and more.
    (970) 759-8919
    We can help!
    Listing Contact
    Jaime Marquez
    Real Estate License ID: EA100030093
    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!