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    Waterfront Land with Heated Outbuilding Title is generated by Realmo AI

    997 County Road 119, Florence, CO 81226

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    For Sale
    $669,999

    LAND - Florence, CO

    Lot size:
    3.26 Acres
    Added:
    May 18, 2026
    Days on Market:
    3
    Last Refresh:
    May 20 at 11:06 pm

    Property Features for 997 County Road 119

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Lot size
    3.26 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    4929

    Building Details

    Additional Structures
    Outbuilding

    We can help!

    Listing Contact
    Sylvia Jennings
    Sylvia Jennings

    Listing agent Sylvia Jennings

    Listing office Berkshire Hathaway HomeServices Rocky Mountain 724 S Tejon Street, Ste C, Colorado Springs, CO

    Listing date May 18, 2026

    MLS# 7081400 Listing URL

    Copyright © 2026 elevateMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 3.26 acre waterfront lot with 240 ft of private Arkansas River access
    • Insulated and heated 42x60 ft outbuilding/shop/garage/barn with 30 & 50 amp electrical service
    • Multiple water sources: 2 irrigation shares, household well, and 3 city water taps
    • 4 RV hook‑ups with power, water, and drip lines
    • Metal barn elevated 8 ft to eliminate flood risk, equipped with washer/dryer hookups, 220 amp power, propane heater, and wood burning furnace
    • Located 40 minutes from Colorado Springs and 2 miles from Florence, CO antique and arts district

    Overview

    This 3.26-acre fenced lot is a recreation site with waterfront access. The property nearly spans the Arkansas River and includes a 42x60 foot insulated and heated outbuilding suitable for use as a shop, garage, or barn. The lot features 240 feet of private Arkansas River access and is located 40 minutes from Colorado Springs. The property has a perimeter fence, propane tank, 30 amp and 50 amp electrical service to the barn and outside, and 4 RV hook-ups with power, water and drip lines. Water resources include 2 irrigation shares, a household well, and 3 city water taps, providing water for irrigation, horses, and household use. The metal barn is elevated 8 ft to eliminate flood risk and is equipped with washer and dryer hookups, a 220 amp power supply, propane heater and wood burning furnace. Located two miles from the Florence antique and arts district, the property is near shops, restaurants and a brewery. The location is a haven for wildlife, especially blue heron and geese. The property offers the option to build a dream home.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Waterfront Land

    Suggested Use

    Restaurant Building Supply Pharmacy Food Market Storage Facility Grocery & Convenience Store Grocery & Convenience Store Daycare Center (Bike/Boat/Book/etc) Store Barber Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Florence
    County
    Fremont
    State
    Colorado
    Longitude
    -105.088691
    Latitude
    38.392063

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    FAQs

    What type of property is this?
    Waterfront Land - 3.26-acre waterfront lot with outbuilding near Arkansas River.
    Where is this waterfront land located?
    The property is located at 997 County Road 119 Florence, CO.
    What is the asking price?
    The asking price for this property is $669,999.
    What are key features of this property?
    This property features: 3.26 acre waterfront lot with **240 ft of private Arkansas River access**; **Insulated and heated 42x60 ft outbuilding/shop/garage/barn** with 30 & 50 amp electrical service; Multiple water sources: 2 irrigation shares, household well, and 3 city water taps
    (719) 576-6767
    We can help!
    Listing Contact
    Sylvia Jennings
    Sylvia Jennings
    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.

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