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    Commercial Building with Two Units Title is generated by Realmo AI

    242 7th Avenue, Ouray, CO 81427

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    Two-unit configuration in C-1 zoning with identified utilities, supporting a range of office and retail-oriented business uses.

    Type:Special Purpose
    Added:
    May 28, 2026
    Days on Market:
    10
    Last Refresh:
    Jun 6 at 5:00 am

    Property Features for 242 7th Avenue

    General Information

    Standard status
    Active
    Property subtype
    Special Purpose

    Building Details

    Year Built
    1900

    Spaces For Lease

    at 242 7th Avenue Contact us

    We can help!

    Listing Contact
    Colleen Aller
    Colleen Aller

    Listing agent Colleen Aller License #FA 100097828

    Listing office Keller Williams Realty Southwest Associates, LLC

    Listing date May 28, 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 Keller Williams Realty Southwest Associates, LLC

    HighLights

    • Commercial building built in 1900 with a current two‑unit configuration in Ouray’s C‑1 Commercial District
    • C‑1 zoning supports retail, office, service‑based businesses, residential uses, and institutional uses (subject to approvals)
    • Public sewer, electric, natural gas, water service, and single‑phase power identified for the property
    • Unit 1: office space is currently vacant and listed for lease
    • Unit 2: occupied month to month by Ouray Mountain Guides with rent of $500/month plus utilities and property taxes
    • Previously one large retail space; units could potentially be opened back up to accommodate a single large user

    Overview

    This commercial building is currently divided into two units. The office unit is listed for lease and is vacant, while the second unit is occupied on a month-to-month basis by Ouray Mountain Guides, with rent of $500 per month plus utilities and property taxes. The property previously functioned as one larger retail space and could potentially be reconfigured to serve a single larger user, subject to applicable approvals and buyer due diligence.

    The building is located on 7th Avenue in Ouray, Colorado, within the City’s C-1 Commercial District. C-1 zoning is intended to support the downtown business district and may accommodate retail, office, service-based businesses, and other uses consistent with a traditional downtown setting, as well as residential and institutional uses, subject to approvals.

    From an operational standpoint, the site is positioned for flexible tenancy and business planning, with practical commercial layout features and identified utility infrastructure, including public sewer, electric, natural gas, water service, and single-phase power. For an owner-user, the vacancy provides immediate leasing optionality, while the existing second unit offers continuity under current month-to-month occupancy. For investors or operators, the building’s ability to support office or retail concepts and potentially return to a unified retail format adds practical versatility in a market where large, flexible space can be difficult to find.
    Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Florist Supermarket (Bike/Boat/Book/etc) Store (Bike/Boat/Book/etc) Store Restaurant Butcher Restaurant Restaurant Auto Parts Store Garden Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Ouray
    County
    Ouray
    State
    Colorado
    Longitude
    -107.628
    Latitude
    38.0291

    FAQs

    What type of property is this?
    Office units - Two-unit configuration in C-1 zoning with identified utilities, supporting a range of office and retail-oriented business uses.
    Where is this office units located?
    The property is located at 242 7th Avenue Ouray, CO.
    What are key features of this property?
    This property features: Commercial building built in 1900 with a current two‑unit configuration in Ouray’s C‑1 Commercial District; C‑1 zoning supports retail, office, service‑based businesses, residential uses, and institutional uses (subject to approvals); Public sewer, electric, natural gas, water service, and single‑phase power identified for the property
    (970) 901-7018 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Colleen Aller
    Colleen Aller
    Real Estate License ID: FA 100097828
    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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