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    102 Mccormick Pkwy Canon City, CO 81212-9292
    Property profile & analytics

    102 Mccormick Pkwy Canon City, CO 81212-9292

    View on Map
    • Motels
    • 36,919 SF
    • 1.72 lot acres
    Off-Market
    Property ID
    US13-2794485
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Motels

    Property Details for 102 Mccormick Pkwy

    Year built
    2007
    Lot size
    1.72 lot acres
    Property size
    36,919 SF
    Property type
    Motels
    APN
    99926524
    APU
    99926524

    Description

    This exceptional 64-key Hampton Inn, a Hilton brand subsidiary, is offered at $9,800,000. Boasting a 67.2% occupancy rate and a commanding #1 position within its competitive set, this three-story, 25,000 square foot hotel presents a compelling investment opportunity. Built in 2008 on a 1.78-acre lot in Canon City, Colorado (APN: 000099926524), the property features a range of amenities including a free breakfast, fitness center, indoor heated pool and spa, Wi-Fi, banquet/meeting room, and a boardroom. Its strategic location near the Royal Gorge, a major Colorado tourist attraction, ensures consistent high demand. The $392 per square foot price reflects the property's strong performance and potential. The hotel's 64 keys are priced at $153,125 each. Further expansion potential exists due to adjacent land suitable for more than doubling the current room count. This stabilized investment is zoned commercial and is ideally suited for a 1031 exchange. The property is located at 102 McCormick Pkwy, Canon City, CO 81212.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Canon City
    County
    Fremont
    State
    Colorado
    Longitude
    -105.186
    Latitude
    38.4476
    CBSA code
    15860
    CBSA name
    CANON CITY, CO MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $66,772
    $0.00
    $0.00
    $780,927
    -
    $0.00
    $0.00
    $2,799,024

    Comparable in this City

    • Value Estimation
      $2,400,000
      15,043 SF

      209 19th St

      MOTEL • 15,043 SF
      209 19th St, Canon City, CO 81212-2470
      View Details
    • Value Estimation by Request
      695,415 SF

      1231 Royal Gorge Blvd

      Motels • 695,415 SF
      1231 Royal Gorge Blvd, Cañon City, CO 81212
      View Details
    • Value Estimation
      $7,700,000
      41,602 SF

      110 Latigo Ln

      MOTEL • 41,602 SF
      110 Latigo Ln, Canon City, CO 81212-8101
      View Details
    • Value Estimation by Request
      18,512 SF

      217 Raynolds Ave

      MOTEL • 18,512 SF
      217 Raynolds Ave, Canon City, CO 81212-2756
      View Details
    • Value Estimation by Request
      4,718 SF

      231 Royal Gorge Blvd

      MOTEL • 4,718 SF
      231 Royal Gorge Blvd, Canon City, CO 81212-3742
      View Details
    • Value Estimation by Request
      21,237 SF

      311 Royal Gorge Blvd

      MOTEL • 21,237 SF
      311 Royal Gorge Blvd, Canon City, CO 81212-3744
      View Details

    Similar Nearby for Sale

    • $395,000
      6.79 Acres

      Commercial Land Near Royal Gorge

      6.79 acre commercial lot near Royal Gorge Bridge & Park.
      2 County Road 3A, Canon City, CO 81212
      View Details
    • $450,000
      11.82 Acres

      Canon City Commercial Land For Sale

      11.89 acre commercially zoned lot near Royal Gorge Bridge.
      1 County Road 3A, Canon City, CO 81212
      View Details
    • $385,000
      6.88 Acres

      Commercially Zoned Land Near Royal Gorge

      6.88 acre commercially zoned lot near Royal Gorge Bridge.
      County Road 3A, Canon City, CO 81212
      View Details
    • $385,000
      6.88 Acres

      Commercial Land Near Royal Gorge

      6.88 acre commercial lot near Royal Gorge Bridge & Park.
      3 County Road 3A, Canon City, CO 81212
      View Details
    • $395,000
      6.79 Acres

      Canon City Commercial Land For Sale

      6.79 acre commercially zoned lot near Royal Gorge Bridge.
      2 County Road 3A, Canon City, CO 81212
      View Details
    • $550,000
      0.24 Acres

      Canon City Commercial Building For Sale

      Commercial building in historic Canon City, Colorado, with parking lot.
      512 Royal Gorge Blvd, Canon City, CO 81212
      View Details
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    Canon City, CO 81212-9292
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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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