This exceptional investment opportunity in picturesque Lake City, Colorado, presents a rare chance to acquire a thriving turnkey rental business. The property encompasses three meticulously maintained parcels totaling 1.64 acres and features four charming log cabin units in pristine condition. These units boast a proven history of strong year-round rental income, attracting repeat guests. Strategically located just outside of town, eliminating the need for a short-term rental permit, the property enjoys excellent visibility and accessibility from Highway 149, while also offering convenient backroad access for off-road vehicles. The main 2782 sq ft, 3-bed, 3-bath cabin serves as a comfortable residence, but could easily be converted into a larger rental unit. It features an open-concept kitchen, dining, and living area, multiple bedrooms, and ample storage. A thoughtfully designed basement provides space for managing the other rental units. Heating options include a wood stove, propane gas stove, and electric heaters. A separate duplex, totaling 2359 sq ft, comprises two identical 2-bed, 2-bath units, each with an open floor plan, gas wood-burning stoves, and private covered decks. Finally, a charming 908 sq ft cabin on a separate 0.43-acre lot adds to the rental portfolio. The main parcel includes landscaped lawns with automatic sprinklers, a greenhouse, animal pen, shed, and equipment storage barn. This property presents diverse possibilities, from continuing the successful rental business to creating a family compound or even a unique wedding venue. Lake City's stunning natural beauty and abundant outdoor recreational opportunities ensure consistent demand for rental accommodations. The asking price is $2,599,000.
Property Features for 1425 State Highway 149
General Information
Property type
Mixed-use properties
Lot Size
71,438 SF
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Listing Contact
Robby Richardson
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HighLights
$2,599,000 asking price for a mixed‑use property.
1.64‑acre lot in Lake City, Colorado, featuring four log cabin units.
Three parcels with established short‑term and long‑term rental history, requiring no STR permit.
Main cabin: 2,782 sq ft, 3 bed, 3 bath, with potential for additional bedrooms. Features include updated flooring, covered deck, and efficient heating options.
Duplex: 2,359 sq ft total, two 2 bed/2 bath units, each with updated flooring, covered decks, and gas wood‑burning stoves.
Additional 908 sq ft cabin on a 0.43‑acre lot, with one bedroom loft and full bath.
The property is located at 1425 State Highway 149 Lake City, CO.
What is the asking price?
The asking price for this property is $2,599,000.
What are key features of this property?
This property features: $2,599,000 asking price for a mixed-use property.; 1.64-acre lot in Lake City, Colorado, featuring four log cabin units.; Three parcels with established short-term and long-term rental history, requiring no STR permit.
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1425 State Highway 149 Lake City, CO 81235
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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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1425 State Highway 149 Lake City, CO 81235
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