Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    42 Wapiti Rdg Rd Del Norte, CO 81132

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    42 Wapiti Rdg Rd Del Norte, CO 81132

    View on Map
    • Land
    • 36.05 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 42 Wapiti Rdg Rd

    Lot size
    36.05 lot acres
    Property type
    Land

    Description

    This exceptional 36.05-acre parcel presents a unique opportunity to build your dream home within the exclusive Pronghorn Ranch gated community in Southern Colorado. Located just 2.5 miles south of Del Norte, this property offers unparalleled privacy while remaining conveniently close to amenities. The land boasts breathtaking panoramic views encompassing majestic mountains, a picturesque valley, and striking rock formations. The natural landscape is dotted with native grasses and evergreen trees, providing a tranquil setting and attracting abundant wildlife, including mule deer, elk, and cranes. Adding to the recreational appeal is an adjoining 640-acre state lease available for recreational use, and bordering Bureau of Land Management (BLM) lands to the east, providing extensive access to public lands. The area offers a wealth of outdoor activities, from hiking and trekking to skiing, snowmobiling, camping, and ATV riding. Hunting opportunities are also plentiful. Del Norte, a short distance away, provides convenient access to restaurants, a grocery store, and the Rio Grande Hospital. Wolf Creek Ski Area is a 45-minute drive. Nearby towns include Monte Vista, South Fork, and Alamosa. The property is zoned for residential single-family use and has an APN of 3108401002. The asking price is $72,100, representing a land value of $2,500 per acre. This is a rare chance to own a piece of Colorado's natural beauty in a desirable, gated community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Del Norte
    County
    Rio Grande
    State
    Colorado
    Longitude
    -106.393
    Latitude
    37.6231

    Comparable in this City

    • Value Estimation by Request
      36.85 Acres

      340 Pronghorn Trl

      Land • 36.85 Acres
      340 Pronghorn Trl, Del Norte, CO 81132
      View Details
    • Value Estimation by Request
      35.80 Acres

      568 Pronghorn Trl

      Land • 35.80 Acres
      568 Pronghorn Trl, Del Norte, CO 81132
      View Details
    • Value Estimation by Request
      10.17 Acres

      71 Co Rd

      Land • 10.17 Acres
      71 Co Rd, Del Norte, CO 81132
      View Details
    • Value Estimation by Request
      35.09 Acres

      12C Pronghorn Trl

      Land • 35.09 Acres
      12C Pronghorn Trl, Del Norte, CO 81132
      View Details
    • Value Estimation by Request
      37.82 Acres

      40 Wapiti Rdg Rd

      Land • 37.82 Acres
      40 Wapiti Rdg Rd, Del Norte, CO 81132
      View Details
    • Value Estimation by Request
      38.25 Acres

      966 Pronghorn Trl

      Land • 38.25 Acres
      966 Pronghorn Trl, Del Norte, CO 81132
      View Details

    Similar Nearby for Sale

    • $71,000
      40.00 Acres

      40 Acres Off-Grid Living

      Land with mountain views, privacy, and off-grid potential.
      Tbd, Del Norte, CO 81132
      View Details
    • Contact for pricing

      Buildable Lot in Gated Community

      Lot in Pronghorn Ranch with mountain and valley views.
      31a Pronghorn Trl, Del Norte, CO 81132
      View Details
    • Contact for pricing

      Pronghorn Ranch Buildable Lot

      Buildable lot in gated community near Del Norte, Colorado.
      857 Pronghorn Trl, Del Norte, CO 81132
      View Details
    • Contact for pricing

      Buildable Lot in Gated Community

      Lot in gated community with mountain and valley views.
      42 Wapiti Rdg Rd, Del Norte, CO 81132
      View Details
    • $52,425
      41.94 Acres

      Del Norte Residential Land

      41.94-acre residential lot in a gated community.
      41 Wapiti Rdg Rd, Del Norte, CO 81132
      View Details
    • $72,500
      35.14 Acres

      35+ Acre Buildable Parcel

      Off-grid living opportunity near Del Norte with mountain views.
      120 Highland Rd, Del Norte, CO 81132
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    42 Wapiti Rdg Rd
    Del Norte, CO 81132
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!