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    809 N State Highway 149 Lake City, CO 81235

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    For Sale
    $3,950,000

    Established recreational vehicle sales, service, and rental business in Lake City.

    Property size:
    4,353 SF
    Lot size:
    0.63 Acres
    Added:
    Jan 6, 2025
    Days on Market:
    478
    Last Refresh:
    Jan 20 at 10:24 am

    Property Features for 809 N State Highway 149

    General Information

    Standard status
    Active
    Size
    4,353 SF
    Lot size
    0.63 Acres

    We can help!

    Listing Contact
    Michael Murphy

    Listing agent Michael Murphy

    Listing office murphy real estate

    Listing date Jan 6, 2025

    Source Exprealty

    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 murphy real estate

    Overview

    Lake City Recreational Business Opportunity

    Located in Lake City, Colorado, the Lake City Sports Center has been a cornerstone of the community for over 65 years. The business has evolved from a gas station into a recreational vehicle sales, service, and rental enterprise. Under the current owner, the business has seen expansion, with revenues increasing over the past 27 years. Situated along State Highway 149, the property has visibility and accessibility, with views of the Lake Fork of the Gunnison River. The 4,353 square foot facility includes a retail shop, showroom, office space, and three large garage bays, as well as storage. Outdoor amenities include gas pumps, fuel storage tanks, and a propane filling station. The business franchises Polaris ATV, UTV, and snowmobile products, as well as Triton and Polaris aluminum trailers. It also operates the region's largest UTV rental company, San Juan Adventures, and a jeep rental service. The business also has a snowmobile rental operation and holds federal outfitter's permits for snowmobile guided/unguided tours and BLM tour permits for guided excursions on the Alpine Loop. Lake City Sports Center is positioned to capitalize on the market of off-road vehicles, snowmobiles, and adventure tourism.
    Location Intelligence

    Current Use by Public Records

    Gas stations

    Suggested Use

    Garden Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Lake City
    County
    Hinsdale
    State
    Colorado
    Longitude
    -107.292
    Latitude
    38.1309

    FAQs

    What type of property is this?
    Automotive property - Established recreational vehicle sales, service, and rental business in Lake City.
    Where is this automotive property located?
    The property is located at 809 N State Highway 149 Lake City, CO.
    What is the asking price?
    The asking price for this property is $3,950,000.
    What are key features of this property?
    This property features: Established business (65+ years) with diversified revenue streams and exclusive federal outfitter permits.; Substantial revenue growth under current ownership, increasing from $400,000 to $4,000,000+ over 27 years.; **Prime location on State Highway 149** with high visibility and views of the Lake Fork of the Gunnison River.
    (719) 849-1441
    We can help!
    Listing Contact
    Michael Murphy
    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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