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    Historic Mixed-Use Building on Main Title is generated by Realmo AI

    402 Main Street, Canon City, CO 81212

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    For Sale
    $415,000

    Renovated 1888 commercial building in Canon City's Historic District.

    Type:Commercial/Industrial
    Lot size:
    0.14 Acres
    Added:
    Mar 16, 2026
    Days on Market:
    59
    Last Refresh:
    Apr 6 at 3:59 am

    Property Features for 402 Main Street

    General Information

    Standard status
    Active
    Lot size
    0.14 Acres
    Property subtype
    Commercial/Industrial

    We can help!

    Listing Contact
    Daniel J. Ullery-Oatney

    Listing agent Daniel J. Ullery-Oatney

    Listing office Bhhs Rocky Mountain Florence

    Listing date Mar 16, 2026

    Source Exitrealty

    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 Bhhs Rocky Mountain Florence

    HighLights

    • Versatile 3‑story commercial building in the heart of Historic Canon City
    • Recently renovated with new electrical, newer furnace and plumbing, and a handicap accessible ground floor
    • Ground floor features ADA compliant bathrooms, a kitchenette, 220 volt outlet, and a conference room
    • Upper level with original hardwood floors, charming original wooden doors, and a Victorian pocket door, suitable for apartments with exterior deck access
    • Strong rental history and multiple income‑producing options
    • Conveniently located in the central business district with heavy foot traffic and close proximity to amenities

    Overview

    Located in the heart of Historic Canon City Colorado, this renovated three-story commercial building, dating back to 1888, offers multiple use possibilities. Situated on Main Street in the downtown area, the property's layout allows for a large business space, a ground floor business with apartments above, or multiple office spaces. The building features a strong rental history, exterior entry and exit points on all three floors, historic features, and handicap accessibility on the ground floor. Recent upgrades include new electrical wiring, a newer furnace, and updated plumbing. The ground floor includes ADA-compliant bathrooms, a kitchenette, a 220-volt outlet, and a conference room, complemented by original tin ceilings. The upper level features original hardwood floors, wooden doors, and a Victorian pocket door. An exterior deck provides separate access to the upper level, while a rear deck offers mountain views and access to the alley. The lower level, currently used for storage, has concrete floors and the potential to reopen access to the street level. Located in the central business district, the property benefits from proximity to amenities and high foot traffic.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Canon City
    County
    Fremont
    State
    Colorado
    Longitude
    -105.2416448
    Latitude
    38.4397407

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    FAQs

    What type of property is this?
    Mixed-use property - Renovated 1888 commercial building in Canon City's Historic District.
    Where is this mixed-use property located?
    The property is located at 402 Main Street Canon City, CO.
    What is the asking price?
    The asking price for this property is $415,000.
    What are key features of this property?
    This property features: Versatile 3‑story commercial building in the heart of Historic Canon City; Recently renovated with new electrical, newer furnace and plumbing, and a handicap accessible ground floor; Ground floor features ADA compliant bathrooms, a kitchenette, 220 volt outlet, and a conference room
    (719) 372-1788
    We can help!
    Listing Contact
    Daniel J. Ullery-Oatney
    Learn More
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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.

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