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    29 Mesa Dr San Luis, CO 71230660

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    For Sale
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    2.03 Acres, Lake & Mountain Views

    Property Features for 29 Mesa Dr

    General Information

    Property type
    Farms
    Lot Size
    88,427 SF

    We can help!

    Listing Contact
    Xing Gao
    Xing Gao

    Listing Agency: eXp Realty Houston Listing Agent: Xing Gao

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    This exceptional 2.03-acre parcel in Costilla County, Colorado, presents a unique opportunity for those seeking a tranquil mountain retreat. Boasting breathtaking views of Culebra Peak and convenient proximity to Sanchez Reservoir, this property offers a peaceful setting with minimal neighbors in the Wild Horse Mesa neighborhood. Located just 10 miles from San Luis, it provides easy access to amenities while maintaining a secluded feel. The land itself is flat and partially treed, ideal for building a home or parking an RV. Residential zoning allows for diverse construction options, including single and double-wide manufactured homes, with a minimum dwelling size of 600 square feet. There are no HOA fees or building time limits. Utilities are readily accessible
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Auto Parts Store Department Store Food Market

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

    Location Insight

    • Map
    • Local Demand
    City
    San Luis
    County
    Costilla
    State
    Colorado
    Longitude
    -105.43138
    Latitude
    37.10582

    Nearby Similar for Sale

    • $390,000
      35.23 Acres

      Ranch Property with Irrigation Rights

      Ranch property featuring irrigation rights and a stock well.
      8463 County Road 21, San Luis, CO 81152
      View Details
    • $163,000

      San Luis Office Space For Sale

      4,000 SF office space with mountain views.
      11050 County Road 21, San Luis, CO 81152
      View Details
    • $850,000

      Farm and Ranch with Water

      Farm and ranch property with water rights and outbuildings.
      17152 Hwy 142, San Luis, CO 81152
      View Details

    FAQs

    What type of property is this?
    Farm - 2.03 Acres, Lake & Mountain Views
    Where is this farm located?
    The property is located at 29 Mesa Dr San Luis, CO.
    What is the asking price?
    The asking price for this property is $14,900.
    What are key features of this property?
    This property features: 2.03-acre parcel with breathtaking Culebra Peak views, near Sanchez Reservoir.; Located 10 miles from San Luis, offering a secluded mountain retreat in the Wild Horse Mesa neighborhood.; Flat, partially treed lot ideal for home construction or RV parking; residential zoning allows diverse building options (min. 600 sq ft).
    (970) 420-2440 Call to check price and availability
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    29 Mesa Dr San Luis, CO 71230660
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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
    29 Mesa Dr San Luis, CO 71230660
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Xing Gao
    Xing Gao
    Real Estate License ID: 822975
    (970) 420-2440
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