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Xxxxxx Pleasant View, CO 81327
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For Sale
$1,950,000
Colorado Hay Farm, Home, Water Rights
Description
Added:
Dec 11, 2024
Days on Market:
415
Grand View Farm presents a unique opportunity to acquire a profitable and picturesque hay farm nestled on over 198 acres in southwest Colorado, near the village of Lewis. This expansive property boasts 140 shares of Montezuma Valley Irrigation (MVI) water district rights, ensuring consistent water supply for the thriving alfalfa and grass hay production. The farm features a well-maintained pump house and large pond, utilizing a 12-inch line pumping 900-1000 gallons per minute to the irrigation system. Seven main side rolls, each a quarter-mile long, and one smaller roll, efficiently irrigate the five separate parcels of high-quality hay land. Beyond the cropland, three large pastures and one smaller grass pasture provide ample grazing space, all enclosed by cross-fencing with individual automatic water access. The property's stunning location offers 360-degree views of the La Plata Mountains, Sleeping Ute Mountain, Mount Wilson, and Mesa Verde. The two-story residence provides ample living space with breathtaking mountain views. The upper level features an open floor plan encompassing the kitchen, living, and dining areas, a master suite with a deep soaking tub and walk-in shower, and a guest bedroom with its own bath. The lower level includes a large mudroom, two offices (one with built-in desk space), a half bath, and a spacious barn/storage area (48' x 48') with a 16' ceiling, double sliding doors, running water, and a built-in shop area. Additional improvements include a hay barn, two 12' x 12' horse stalls with rubber padded floors, a three-car garage with a separate workout room and storage, a large dog kennel with a run, and a separate fenced dog run near the house. The property's proximity to Cortez, Durango, and various recreational areas, including reservoirs, ski resorts, and national monuments, adds to its appeal. This exceptional property offers a blend of income-generating potential and a desirable lifestyle in a stunning natural setting. The asking price is $1,950,000.
Property Features for 0 Xxxxxx
General Information
Property type
Farms
Lot Size
8,624,880 SF
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Listing Contact
Bart Miller
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HighLights
$1,950,000 asking price for 198 acres of Colorado ranch land.
Property includes a residence, valuable water rights (140 shares of Montezuma Valley Irrigation), and irrigation infrastructure (pump house, pond, extensive piping).
The home features two stories, approximately 2,880 sq ft of heated living space, and stunning mountain views. Includes multiple bedrooms, offices, and a large barn/storage area.
Extensive improvements include a hay barn, horse stalls, a 3‑car garage with a workout room, and separate dog kennels.
Located near Lewis, CO, offering proximity to Cortez, Durango, and recreational opportunities including nearby reservoirs, skiing, and national monuments.
The property is located at Xxxxxx Pleasant View, CO.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: $1,950,000 asking price for 198 acres of Colorado ranch land.; Property includes a residence, valuable water rights (140 shares of Montezuma Valley Irrigation), and irrigation infrastructure (pump house, pond, extensive piping).; The home features two stories, approximately 2,880 sq ft of heated living space, and stunning mountain views. Includes multiple bedrooms, offices, and a large barn/storage area.
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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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Xxxxxx Pleasant View, CO 81327
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