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    Colorado Mountain Property with Improvements Title is generated by Realmo AI

    155 Horse Thief Gulch Road, Canon City, CO 81212

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    For Sale
    $194,900

    LAND - Canon City, CO

    Lot size:
    35.12 Acres
    Added:
    May 27, 2026
    Days on Market:
    8
    Last Refresh:
    Jun 3 at 4:06 am

    Property Features for 155 Horse Thief Gulch Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    APN
    99910008
    Lot size
    35.12 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    Lengthy
    Tax Annual Amount
    14

    Utilities

    Water source
    Well

    We can help!

    Listing Contact
    Julius F. Garcia
    Julius F. Garcia

    Listing agent Julius F. Garcia License #100085751

    Listing office Homesmart Preferred Realty 1202 Royal Gorge Blvd, GREENWOOD VILLAGE, CO

    Listing date May 27, 2026

    MLS# 5514427 Listing URL

    Copyright © 2026 Royal Gorge Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 35‑acre mountain property with incredible views and privacy.
    • Year‑round accessibility directly from a paved state highway.
    • Established well producing approximately 2.9‑3 gallons per minute, powered by a solar Rural Power System that feeds a 2,500‑gallon cistern.
    • 32x40 excavation site cut into the rock, ideal for a future home with privacy and views.
    • 250‑yard driveway with parking area and looped turnaround, making it 2‑wheel‑drive accessible.
    • Close access to BLM land, ideal for outdoor enthusiasts.

    Overview

    This 35-acre mountain property in the Colorado Rocky Mountains offers views, privacy, and year-round accessibility. Located less than 30 minutes from Canon City and directly accessed from a paved state highway, the property includes a 10x12 cabin with a sleeping loft. Improvements to the land include a 250-yard south-facing driveway with a parking area and looped turnaround at the top of the ridge. At the top of the ridge, a 32x40 excavation site has been cut into the rock. A second 250-yard driveway stretches across the meadow to the established well producing approximately 2.9-3 gallons per minute, powered by a solar Rural Power System that feeds a 2,500-gallon cistern. A fire mitigation cistern is also located at the corner of the property, and culverts have already been installed to support proper drainage. With access to BLM land, this property is suited for outdoor activities such as hiking and hunting.
    Property Profile Location Intelligence

    Current Use by Public Records

    Recreation land

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Canon City
    County
    Fremont
    State
    Colorado
    Longitude
    -105.39
    Latitude
    38.533

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    FAQs

    What type of property is this?
    Recreation land - 35-acre mountain property near Canon City with cabin and well.
    Where is this recreation land located?
    The property is located at 155 Horse Thief Gulch Road Canon City, CO.
    What is the asking price?
    The asking price for this property is $194,900.
    What are key features of this property?
    This property features: 35‑acre mountain property with incredible views and privacy.; Year‑round accessibility directly from a paved state highway.; Established well producing approximately 2.9‑3 gallons per minute, powered by a solar Rural Power System that feeds a 2,500‑gallon cistern.
    (719) 371-0506
    We can help!
    Listing Contact
    Julius F. Garcia
    Julius F. Garcia
    Real Estate License ID: 100085751
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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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    155 Horse Thief Gulch Road, Canon City, CO 81212
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