Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    32 23 Monticello, UT 84535

    Property Lookup

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

    32 23 Monticello, UT 84535

    View on Map
    • Specialty properties
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Specialty properties

    Property Details for 32 23

    Property type
    Specialty properties
    Property subtype
    Land

    Description

    This exceptional 40-acre property is situated just outside Monticello, Utah, near the Utah/Colorado border, presenting a unique investment opportunity. Currently zoned Green Belt, this land offers significant potential for various uses, including agricultural purposes. Property taxes were a mere $7.80 last year when used for crops. The location provides a tranquil setting, ideal for a weekend retreat or other recreational uses. Electricity is readily accessible nearby, and neighboring properties boast full utility services. While the property is conveniently located, buyers are responsible for verifying all information independently. It's important to note that the transfer of the Green Belt designation to the new owner will be the buyer's responsibility, along with any associated transfer taxes. This is a remarkable opportunity to acquire a sizable parcel of land in a desirable location at an attractive price point. The property's proximity to Monticello and its existing Green Belt zoning make it a compelling investment for those seeking a versatile and affordable landholding. The low property taxes further enhance its appeal. This is an "as-is" sale, and prospective buyers are strongly encouraged to conduct their own due diligence before making an offer. The address is 32 S 23 E, Monticello, UT 84535.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Monticello
    County
    San Juan
    State
    Utah
    Longitude
    -109.339
    Latitude
    37.8682

    Comparable in this City

    • Value Estimation by Request

      32 23

      Manufacturing properties
      32 23, Monticello, UT 84535
      View Details
    • Value Estimation by Request
      2,112 SF

      6198 Hwy 191a

      PROFESSIONAL CLUBS/ASSOCIATIONS • 2,112 SF
      6198 Hwy 191a, Monticello, UT 84535-7946
      View Details
    • Value Estimation by Request
      275.00 Acres

      Tds

      Land • 275.00 Acres
      0 Tds, Monticello, UT 84535
      View Details
    • Value Estimation by Request
      320.00 Acres

      Tbd T32S/R26E/Sec21

      Farms • 320.00 Acres
      0 Tbd T32S/R26E/Sec21, Monticello, UT 84535
      View Details
    • Value Estimation by Request
      160.00 Acres

      Tds

      Land • 160.00 Acres
      0 Tds, Monticello, UT 84535
      View Details
    • Value Estimation by Request
      116.00 Acres

      Tbd T33S/R25E/Sec8 116Acres

      Land • 116.00 Acres
      0 Tbd T33S/R25E/Sec8 116Acres, Monticello, UT 84535
      View Details

    Similar Nearby for Sale

    • $343,750
      275.00 Acres

      South Flats Farm & Ranch, Monticello, UT

      275 Acres, Organic Farm, Stunning Views
      0 Tds, Monticello, UT 84535
      View Details
    • Contact for pricing

      320-Acre Ranch Near Monticello, Utah

      Ranch property near Monticello, Utah, with grazing and hunting opportunities.
      Tbd T32S/R26E/Sec21, Monticello, UT 84535
      View Details
    • $448,350
      427.00 Acres

      Recreational Land in Four Corners

      427 acres of recreational and agricultural land for sale.
      175 E Lockerby Rd, Monticello, UT 84535
      View Details
    • $87,000
      34.00 Acres

      34 Acres of Mountain View Land

      34-acre parcel with mountain views near Monticello, Utah.
      2 Sturgeon Rd, Monticello, UT 84535
      View Details
    • Contact for pricing

      Turnkey Laundromat Business and Real Estate

      Well-maintained laundromat with new, high-efficiency machines for sale.
      232 E Center St, Monticello, UT 84535
      View Details
    • Contact for pricing

      Main Street Commercial Building

      Commercial building on Main Street with outdoor area.
      156 Main St, Monticello, UT 84535
      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.
    32 23
    Monticello, UT 84535
    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!