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    Established Diner in Cheraw, Colorado Title is generated by Realmo AI

    213 Grand Ave, Cheraw, CO 81030

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    Claim this Listing
    For Sale
    $475,000

    COMMERCIAL - Cheraw, CO

    Property size:
    2,080 SF
    Price / SF:
    $228/SF
    Added:
    Sep 25, 2025
    Days on Market:
    241
    Last Refresh:
    May 23 at 4:06 am

    Property Features for 213 Grand Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    C
    Security features
    Security System
    Standard status
    Active
    APN
    438325402020
    Size
    2,080 SF

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    Lots 6, 7, and 8, in Block 2, in the Town of Cheraw, as shown by the recorded plat thereof.
    Tax Annual Amount
    110

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1930
    Floors in Building
    1
    Roof type
    Flat

    We can help!

    Listing Contact
    Beth Howe

    Listing agent Beth Howe

    Listing office Great Plains Land Company, LLC CO

    Listing date Sep 25, 2025

    MLS# 234830

    Copyright © 2026 Pueblo 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

    • Turn‑key restaurant business opportunity with all inventory included
    • Established business with a 22‑year operating history and up to 200 orders per day
    • Featured on "America's Best Restaurants Road Show" and "America Eats" (PBS)
    • Recently renovated dining area with new electrical, lighting, flooring, tables, and chairs
    • New enclosed patio with roll‑up doors for indoor/outdoor dining
    • New walk‑in coolers and freezers

    Overview

    The Frontier Diner, a restaurant business operating for 22 years, is available for purchase in Cheraw, Colorado. This established diner, located at 213 Grand Avenue in Cheraw, CO, has a history of serving up to 200 orders per day, attracting customers from both the local area and beyond. The menu features breakfast, lunch, and specialty dinners, with burgers made from locally sourced beef being a customer favorite. The business has been featured on "America's Best Restaurants Road Show" and in "America Eats," a Docu-Series on PBS, as one of 50 restaurants highlighted in Colorado. The sale includes all inventory, making it a turn-key business opportunity. The property features an attached, enclosed patio with roll-up doors and large windows, providing an indoor/outdoor dining experience. The dining area has been recently renovated with new electrical systems, lighting, paint, vinyl flooring, dining tables, and chairs. A coffee bar with a pastry case has been added. New walk-in coolers and freezers have been installed. The property is located across the street from a newly built community park and pavilion. The property size is 2080 square feet.
    Property Profile Location Intelligence

    Current Use by Public Records

    Frontier Diner Restaurant Cheraw Cafe Restaurant

    Suggested Use

    Restaurant Auto Parts Store Kitchen & Bath Showroom Daycare Center Plumbing Service Restaurant

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

    Location Insight

    • Map
    • Local Demand
    City
    Cheraw
    County
    Otero
    State
    Colorado
    Longitude
    -103.5110914
    Latitude
    38.1070984

    FAQs

    What type of property is this?
    Breakfast & diner - Turn-key restaurant opportunity with indoor/outdoor dining and recent renovations.
    Where is this breakfast & diner located?
    The property is located at 213 Grand Ave Cheraw, CO.
    What is the asking price?
    The asking price for this property is $475,000.
    What are key features of this property?
    This property features: Turn‑key restaurant business opportunity with all inventory included; Established business with a 22‑year operating history and up to 200 orders per day; Featured on "America's Best Restaurants Road Show" and "America Eats" (PBS)
    (719) 469-3143
    We can help!
    Listing Contact
    Beth Howe
    Request Owner's contact information
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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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