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    Ridgway Horse Property Acreage Auction Title is generated by Realmo AI

    175 Pasture Pl, Montrose, CO 81403

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    11.72-acre horse property with utilities, near Ridgway State Park.

    Type:Land
    Lot size:
    13.77 Acres
    Added:
    Jan 21, 2026
    Days on Market:
    119
    Last Refresh:
    Mar 17 at 1:13 pm

    Property Features for 175 Pasture Pl

    General Information

    Standard status
    Active
    Lot size
    13.77 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Gary Hubbell
    Gary Hubbell

    Listing agent Gary Hubbell License #CO.100016545

    Listing office United Country Real Estate | Colorado Brokers & Auctioneers

    Listing date Jan 21, 2026

    Source Crexi

    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 United Country Real Estate | Colorado Brokers & Auctioneers

    HighLights

    • 11.72‑acre property with all utilities ready for building, including Tri‑County Water tap installed and paid, and San Miguel Power on site.
    • Prime location: Convenient access from Highway 550, 9 miles north of Ridgway and close to Ridgway State Park.
    • Approximately 9 acres of irrigated hay land served by the Hayes‑Teague Ditch, suitable for horses, livestock, or hobby hay operation.
    • Elevated 4.5‑acre building site with panoramic views.
    • Excellent investment opportunity in a premium area for irrigated horse properties.
    • Gently sloping terrain ideal for horses or livestock.

    Overview

    This 11.72-acre property is situated along US 550, 9 miles north of Ridgway and 17 miles south of Montrose, Colorado, in the San Juan Mountains. The property is located a mile from the Ridgway State Park, which features a 1,000-acre reservoir for boating and fishing. The tailwater below the dam provides fly-fishing for trophy trout. The property includes approximately 9 acres of irrigated hay land served by the Hayes-Teague Ditch and a 4.5-acre elevated building site with panoramic views. It features gently sloping terrain suitable for horses, livestock, or a hobby hay operation. Tri-County Water tap is installed and paid. San Miguel Power is on site. Convenient access is available from Highway 550. This property is an excellent investment, buy-and-hold or buy-and-build property. It offers year-round access, views, and all utilities. The auction date is February 24, 2026.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Agricultural land / Farmland

    Suggested Use

    Parking Lot & Garage

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

    Location Insight

    • Map
    • Local Demand
    City
    Montrose
    County
    Montrose
    State
    Colorado
    Longitude
    -107.7536086
    Latitude
    38.2585512

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    FAQs

    What type of property is this?
    Agricultural land / Farmland - 11.72-acre horse property with utilities, near Ridgway State Park.
    Where is this agricultural land / farmland located?
    The property is located at 175 Pasture Pl Montrose, CO.
    What are key features of this property?
    This property features: 11.72‑acre property with all utilities ready for building, including Tri‑County Water tap installed and paid, and San Miguel Power on site.; Prime location: Convenient access from Highway 550, 9 miles north of Ridgway and close to Ridgway State Park.; Approximately 9 acres of irrigated hay land served by the Hayes‑Teague Ditch, suitable for horses, livestock, or hobby hay operation.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Gary Hubbell
    Gary Hubbell
    Real Estate License ID: CO.100016545
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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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