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    Versatile Agricultural Property with Warehouse Title is generated by Realmo AI

    16619 Grange Road, Paonia, CO 81428

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    Claim this Listing
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    For Sale
    $1,195,000

    Multi-Use - Paonia, CO

    Property size:
    6,000 SF
    Lot size:
    28.95 Acres
    Price / SF:
    $199/SF
    Added:
    May 10, 2026
    Days on Market:
    3
    Last Refresh:
    May 12 at 2:06 pm

    Property Features for 16619 Grange Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Size
    6,000 SF
    Lot size
    28.95 Acres

    Building Details

    Architectural style
    Other

    We can help!

    Listing Contact
    Charlotte Martin
    Charlotte Martin

    Listing agent Charlotte Martin

    Listing office HomeSmart Realty Partners P.O. Box 489, Rock Springs, CO

    Listing date May 10, 2026

    MLS# 834535 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

    • 28.95‑acre property with no covenants or deed restrictions.
    • Includes 35 priority shares of Stuart ditch irrigation water and a commercial irrigation system.
    • 4800 sq ft insulated/heated warehouse with commercial power, scissor lifts, and storage racks.
    • Nine greenhouses (4 Gothic‑style, 5 standard) and a 2000 sq ft shop.
    • 1/3 interest in a three‑household well, allowing for the construction of two homes.
    • Private BLM access and proximity to the North Fork of the Gunnison River and local wineries.

    Overview

    This 28.95-acre property, formerly an organic hemp farm, hops farm, and apple orchard dating back to the late 1800s, offers multiple potential uses. The property has no covenants or deed restrictions and includes 35 priority shares of the Stuart ditch irrigation water. The irrigation system features a commercially designed pump house with filtration and a nutrient delivery system. A 4800 square-foot insulated and heated warehouse, previously used as a packing shed for hemp and hops manufacturing, includes commercial-sized power efficiency, two scissor lifts, and ceiling height racks for storage, growing, and drying. The warehouse is surrounded by nine greenhouses and a 2000-square-foot shop. Four greenhouses are Gothic-style with 4000 square-foot frames, and five additional greenhouses have 2400 square-foot frames; all require new covering. The property includes a 1/3 interest in a three-household well, allowing for the construction of two homes. It is located along the North Fork of the Gunnison River, near the Painted Vineyards and Black Bridge Winery. The Paonia/Hotchkiss area is known as a wine-growing region and home to the West Elks Winery Association.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Vineyards

    Suggested Use

    Auto Repair Shop Department Store Food Market Wine and Liquor Store Farmer's Market

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

    Location Insight

    • Map
    • Local Demand
    City
    Paonia
    County
    Delta
    State
    Colorado
    Longitude
    -107.5684198
    Latitude
    38.8943306

    FAQs

    What type of property is this?
    Farm - 28.95-acre property with warehouse, greenhouses, and irrigation system.
    Where is this farm located?
    The property is located at 16619 Grange Road Paonia, CO.
    What is the asking price?
    The asking price for this property is $1,195,000.
    What are key features of this property?
    This property features: 28.95‑acre property with no covenants or deed restrictions.; Includes **35 priority shares of Stuart ditch irrigation water** and a commercial irrigation system.; **4800 sq ft insulated/heated warehouse with commercial power**, scissor lifts, and storage racks.
    (970) 234-3011
    We can help!
    Listing Contact
    Charlotte Martin
    Charlotte Martin
    Real Estate License ID: EA40005061
    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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