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    Equestrian Estate Homesite on Deer Mesa Title is generated by Realmo AI

    1302 42ZN Road, Norwood, CO 81423

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    New
    For Sale
    Under Contract
    $995,000

    Residential - Norwood, CO

    Type:Single Family Residence
    Lot size:
    38.00 Acres
    Added:
    May 14, 2026
    Days on Market:
    6
    Last Refresh:
    May 19 at 3:06 am

    Property Features for 1302 42ZN Road

    General Information

    Property type
    Land
    Property subtype
    Single Family Residence
    Standard status
    Active Under Contract
    Lot size
    38.00 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Teddy Berger
    Teddy Berger

    Listing agent Teddy Berger

    Listing office Colorado Land Home & Ranch 17656 Hwy 550 S, Building E, Montrose, CO

    Listing date May 14, 2026

    MLS# 830091 Listing URL

    Copyright © 2026 Colorado Real Estate Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Unobstructed, panoramic mountain views including Lone Cone, Dolores Peaks, San Juan Mountains, and Uncompahgre Plateau.
    • Complete infrastructure already in place: (2) City of Norwood water taps, San Miguel Power electricity (meter set), septic tank and leach field, permitted well, natural gas, and phone line.
    • World‑class equestrian facilities: 80x140 indoor arena, 20000 sq ft outdoor arena, 5 stalls, 3 pens with run‑in shed, and cross‑fenced pastures.
    • 7 shares of irrigation water from Lone Cone ditch for lush pastures and hay production, plus two ponds.
    • 38+ acres of land with a mix of gentle meadows and productive hay ground, frequented by elk, deer, and turkey.
    • Conveniently located 2 miles from Norwood and 45 minutes from Telluride, with year‑round access on a county‑maintained road, total privacy, end‑of‑the‑road seclusion, and no covenants.

    Overview

    This premier 38-acre parcel on Deer Mesa in Norwood, Colorado, offers unobstructed panoramic mountain views. The property is equipped with infrastructure, including two City of Norwood domestic water taps, San Miguel Power electricity on site with a meter in use, and seven shares of irrigation water from Lone Cone ditch. Equestrian facilities include an 80 x 140 ft indoor riding arena, five enclosed horse stalls, a 20000 sq ft outdoor arena, and three large pens with a run-in shed. Multiple cross-fenced pastures with no-climb horse fence are available for rotational grazing. The land features gentle rolling meadows and productive hay ground, with abundant elk, deer, and turkey frequenting the property. Additional amenities include natural gas, a phone line to the homesite, an existing septic tank and leach field, and a permitted well for additional landscape irrigation. Located just 2 miles from Norwood and 45 minutes from Telluride, the property offers year-round access on a county-maintained road, total privacy, and end-of-the-road seclusion with no covenants.
    Location Intelligence

    Current Use by Public Records

    Horse & equestrian properties

    Map

    City
    Norwood
    County
    San Miguel
    State
    Colorado
    Longitude
    -108.289
    Latitude
    38.0926

    FAQs

    What type of property is this?
    Horse & equestrian property - Premier 38-acre equestrian estate with mountain views near Telluride.
    Where is this horse & equestrian property located?
    The property is located at 1302 42ZN Road Norwood, CO.
    What is the asking price?
    The asking price for this property is $995,000.
    What are key features of this property?
    This property features: Unobstructed, panoramic mountain views including Lone Cone, Dolores Peaks, San Juan Mountains, and Uncompahgre Plateau.; Complete infrastructure already in place: (2) City of Norwood water taps, San Miguel Power electricity (meter set), septic tank and leach field, permitted well, natural gas, and phone line.; World‑class equestrian facilities: **80x140 indoor arena, 20000 sq ft outdoor arena, 5 stalls, 3 pens with run‑in shed, and cross‑fenced pastures.**
    (970) 596-1689
    We can help!
    Listing Contact
    Teddy Berger
    Teddy Berger
    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.

    More about this property
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    1302 42ZN Road, Norwood, CO 81423
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