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    1111 W Victory Way Craig, CO 81625

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    1111 W Victory Way Craig, CO 81625

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    • Lifestyle centers
    • 87,814 SF
    • 6.94 lot acres
    For Lease
    $1,400/Mo
    View Listing →
    Restaurant Space in Regional Mall For Lease
    $1,400/Mo
    87,814 SF

    Restaurant Space in Regional Mall

    4,000 SF restaurant space with existing infrastructure for rent.

    1111 W Victory Way, Craig, CO 81625
    View Listing
    Property ID
    US13-1783994
    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

    • Octane Auto & Specialty Services, LLC / Auto Repair Shop
    • Centennial Mall Office / Shopping Center & Mall
    • Twisted Momma Tumblers LLC / Custom T-Shirt Store
    • Knowhere to Escape / Resort
    • Dollar Tree / Discount Store

    Property Details for 1111 W Victory Way

    Year built
    1980
    Lot size
    6.94 lot acres
    Property size
    87,814 SF
    Property type
    Lifestyle centers
    Property subtype
    Power centers
    APN
    065736317001

    Description

    This exceptional value-add investment opportunity presents the Centennial Mall of Craig, a 87,814 square foot mixed-use retail center situated on a 6.94-acre lot at 1111 W Victory Way, Craig, CO 81625. Currently boasting 70% occupancy with 15 tenants, including established names like Dollar Tree and Domino's Pizza, this single-story, 1980-built property offers significant upside potential. The property features 200 parking spaces and benefits from a prime location on Highway 40, ensuring high visibility and traffic. Leases are structured as NNN, with rent bumps ranging from 3% to 5% annually, depending on lease terms. The property is zoned C-2 and has an approved Conditional Use Permit, opening doors to a variety of potential uses. The city of Craig is actively pursuing urban renewal initiatives, presenting additional opportunities for investors. This property is located in an Opportunity Zone, offering potential tax advantages. The mall's central location serves a growing regional hub encompassing parts of Colorado, Wyoming, and Utah. Proximity to Steamboat Springs Resort (approximately 45 minutes away) further enhances its appeal. The asking price for this significant retail investment is $1,975,000. The property's APN is 065736317001.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Craig
    County
    Moffat
    State
    Colorado
    Longitude
    -107.56036465
    Latitude
    40.51435066

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    Similar Nearby for Sale

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      Pending

      Versatile Mixed-Use Property For Sale

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    • $469,000

      Former Restaurant Building For Sale

      Former restaurant with large kitchen, hood, and walk-in cooler.
      1070 W Victory Way, Craig, CO 81625
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      Former Pizza Hut Restaurant

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      Retail Space Near Downtown Craig

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      Craig Restaurant & 3 Lots

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      High-Visibility Craig CO Business Space

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    Similar Nearby for Lease

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      1,376 SF

      Retail Space in Wal-Mart Center

      Retail space available in Wal-Mart anchored shopping center.
      1830-1870 W Victory Way, Craig, CO 81625
      View Details
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      40,280 SF

      Restaurant with Drive-Thru Lane

      Restaurant space with drive-thru and restaurant grade utilities.
      690 W Victory Way, Craig, CO 81625
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    • $1,400 /Mo
      87,814 SF

      Restaurant Space in Regional Mall

      4,000 SF restaurant space with existing infrastructure for rent.
      1111 W Victory Way, Craig, CO 81625
      View Details
    • $4,000 /Mo
      5,000 SF

      Craig, CO Commercial Warehouse

      Warehouse space with office, large doors, and yard storage.
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    Property Visit Statistics

    • Visits by month
      5.3k
    • Visitors by month
      3.7k
    • Avg Time on site
      17 min
    View Listing
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    Craig, CO 81625
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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.

    More about this property
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