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

    1650 Upper Apex Road Central City, CO 80422

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,200,000

    Resource Residential land, walking distance to Central City amenities.

    Type:Land
    Added:
    Mar 6, 2026
    Days on Market:
    47
    Last Refresh:
    Apr 5 at 11:08 pm

    Property Features for 1650 Upper Apex Road

    General Information

    Standard status
    Active
    Property subtype
    Land

    We can help!

    Listing Contact
    Tony Bobay
    Tony Bobay

    Listing agent Tony Bobay

    Listing office NAI Shames Makovsky

    Listing date Mar 6, 2026

    Source Naiglobal

    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 NAI Shames Makovsky

    Overview

    Land Near Central City

    This property is zoned Resource Residential. It is located a 20-minute walk from downtown Central City, which features casinos, shops, and restaurants.
    Location Intelligence

    Current Use by Public Records

    Land

    Map

    City
    Central City
    County
    Gilpin
    State
    Colorado
    Longitude
    -105.541
    Latitude
    39.8142

    Nearby Similar for Sale

    • $1,595,000
      6,200 SF

      Iconic Building in Central City

      Historic 6,200 SF building with entertainment zoning and modern amenities.
      118 Main Street, Central City, CO 80427
      View Details
    • $4,995,000
      23,146 SF

      Central City Casino Portfolio

      Three casinos with gaming, restaurant, and retail potential.
      101 Eureka Street, Central City, CO 80427
      View Details
    • $1,500,000

      Central City Land For Sale

      Three-acre land parcel zoned for 24 units in Central City.
      1 Academy, Central City, CO 80427
      View Details
    • $299,000
      2,500 SF

      Recreational Land with Steel Building

      2.81 acres with steel building bordering public land.
      6660 Virginia Canyon, Central City, CO 80427
      View Details
    • $300,000

      Land with Mountain Views

      Land near outdoor activities and historic towns.
      5 Pewabic Mine, Central City, CO 80427
      View Details
    • $1,850,000
      6,200 SF

      Historic Building in Central City

      Historic three-story building with casino/entertainment potential in Central City.
      118 Main St, Central City, CO
      View Details
    • $5,800,000
      13,454 SF

      New Apartments in Central City

      Newly constructed 18-unit apartment building in downtown Central City.
      101 Gregory Street, Central City, CO 80427
      View Details
    • $180,000

      Secluded Wooded Land Near Amenities

      Over 8 acres of secluded, wooded land near Central City.
      2 Virginia Canyon, Central City, CO 80427
      View Details
    • $59,000

      Land Near Central City Casinos

      Commercial land near downtown and casinos.
      1 E 4th High, Central City, CO 80427
      View Details
    • $120,000

      Secluded Wooded Land Near Amenities

      Close to amenities, power grid, and historic sites.
      3 Virginia Canyon, Central City, CO 80427
      View Details
    • $150,000
      91,912 SF

      Central City Buildable Mining Claims

      Two mining claims within city limits, development opportunity.
      1 Hooper Street, Central City, CO 80427
      View Details
    • $155,000

      Land with Mining Claims

      5.39 acres near Central City with mining claims.
      1 Pewabic Mine, Central City, CO 80427
      View Details

    FAQs

    What type of property is this?
    Land - Resource Residential land, walking distance to Central City amenities.
    Where is this land located?
    The property is located at 1650 Upper Apex Road Central City, CO.
    What is the asking price?
    The asking price for this property is $1,200,000.
    What are key features of this property?
    This property features: 20 min walk to downtown Central City; Resource Residential Zoning; Proximity to casinos
    (303) 565-3035
    We can help!
    Listing Contact
    Tony Bobay
    Tony Bobay
    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!