Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Montrose Land For Sale Title is generated by Realmo AI

    1248 Mayfly Dr, Montrose, CO

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Land available in Montrose, Colorado, with 32,135 square feet.

    Type:LAND
    Property size:
    32,135 SF
    Lot size:
    0.74 Acres
    Price / SF:
    $14/SF
    Added:
    Nov 20, 2025
    Days on Market:
    188
    Last Refresh:
    May 20 at 8:47 pm

    Property Features for 1248 Mayfly Dr

    General Information

    Standard status
    Active
    Size
    32,135 SF
    Lot size
    0.74 Acres
    Property subtype
    LAND

    We can help!

    Listing Contact
    Mike Foster
    Mike Foster

    Listing agent Mike Foster License #IA40011873

    Listing office Coldwell Banker Commercial - Prime Properties

    Listing date Nov 20, 2025

    Source Moodyscre

    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 Commercial - Prime Properties

    HighLights

    • Land available in Montrose, Colorado
    • 32,135 square feet of land

    Overview

    This property consists of land located in Montrose, Colorado. The lot size is 32,135 square feet.
    Location Intelligence

    Current Use by Public Records

    Land

    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
    Montrose
    County
    Montrose
    State
    Colorado
    Longitude
    -107.876
    Latitude
    38.4783

    Nearby Similar for Sale

    • $1,099,000
      4,903 SF

      Montrose Flex Space Opportunity

      Flex space available for sale in Montrose, Colorado.
      2091 Locust Road, Montrose, CO 81401
      View Details
    • $1,300,000
      5,618 SF

      Montrose Commercial Property For Sale

      Commercial property in Montrose, CO, with 5,618 square feet.
      119 N Lot Avenue, Montrose, CO 81401
      View Details
    • $565,500
      1,790 SF

      Montrose Commercial Property For Sale

      Commercial property in Montrose, CO, with retail and office space.
      3415 Woodbridge Place, Montrose, CO 81401
      View Details
    • $1,477,000
      1,771 SF

      Montrose Commercial Property for Sale

      Commercial property in Montrose, CO, with 1771 square feet.
      1510 Oxbow Drive, Montrose, CO 81401
      View Details
    • $1,325,000
      10,260 SF

      Versatile Commercial Property on 2 Acres

      Rare commercial property with two buildings and flexible zoning.
      5 Ponderosa Court, Montrose, CO 81403
      View Details
    • $2,490,000
      8,352 SF

      Montrose Commercial Property For Sale

      Commercial property in Montrose, CO, totaling 8,352 square feet.
      738-748 E Star Court, Montrose, CO 81401
      View Details
    • $1,325,000
      10,260 SF

      Montrose Commercial Property For Sale

      Commercial property in Montrose, Colorado, featuring 10,260 square feet.
      5 Ponderosa Court, Montrose, CO 81403
      View Details
    • $670,000
      3,284 SF

      Montrose Commercial Property For Sale

      Commercial property in Montrose, Colorado, with 3,284 square feet.
      647 E Main Street, Montrose, CO 81401
      View Details
    • $570,000
      1,308 SF

      Downtown Montrose Restaurant Opportunity

      Turnkey restaurant property in downtown Montrose with outdoor seating.
      1047 N 1st Street, Montrose, CO 81401
      View Details
    • $550,000
      2,939 SF

      Montrose Commercial Property For Sale

      Commercial property in Montrose, CO, totaling 2,939 square feet.
      238 S 2nd Street, Montrose, CO 81401
      View Details
    • $575,000
      2,817 SF

      Retail Space in Montrose, CO

      Retail space for sale in Montrose, Colorado.
      308 E Main Street, Montrose, CO 81401
      View Details
    • $570,000
      1,308 SF

      Montrose Commercial Property For Sale

      Commercial property in Montrose, Colorado, with 1,308 square feet.
      1047 N 1st Street, Montrose, CO 81401
      View Details

    FAQs

    What type of property is this?
    Land - Land available in Montrose, Colorado, with 32,135 square feet.
    Where is this land located?
    The property is located at 1248 Mayfly Dr Montrose, CO.
    What is the asking price?
    The asking price for this property is $449,890.
    What are key features of this property?
    This property features: Land available in Montrose, Colorado; **32,135 square feet of land**
    (970) 433-8374 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Mike Foster
    Mike Foster
    Real Estate License ID: IA40011873
    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
    1248 Mayfly Dr, Montrose, CO
    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!