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    Property profile & analytics

    12 Hotchkiss Ave Colona, CO 81403

    • Retail space
    • 1,416 SF
    • 0.14 lot acres
    For Sale
    View listing
    $385,000
    Value Estimation
    Last Sale
    Jan 16, 2024
    $400,000
    Location Intelligence
    Property ID
    US13-1687185
    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.

    Current Use by Public Records

    • Retail space

    Property Details for 12 Hotchkiss Ave

    Year built
    1979
    Lot size
    0.14 lot acres
    Property size
    1,416 SF
    Property type
    Retail space
    APN
    404117302001
    APU
    404117302001

    Description

    This exceptional mixed-use property, located at 12 Hotchkiss Avenue in Colona, Colorado, presents a unique investment opportunity. Situated on a 0.18-acre lot at the corner of Highway 550 and Main Street, this 739-square-foot building boasts a rich history as the site of Ouray County's first railroad stop, dating back to the 1880s. The property benefits from its strategic location on a major highway corridor, experiencing high traffic volume with an estimated 3.5 million vehicles passing annually. Currently configured as a turn-key business, it offers immediate income potential. The sale includes all equipment, fixtures, decorations, and furnishings. A significant advantage is the large back patio, providing exceptional views, and a convenient drive-thru. While the existing "Zona Colona" business is not included in the sale, the property's versatile layout and ample space allow for a variety of uses. The property also includes two or more lots, providing significant room for expansion. Recent construction of turn lanes on Highway 550 ensures easy access for customers. This is a rare chance to own a piece of Colona's history and capitalize on its prime location and high traffic count.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $400,000

    • CAP approach

      CAP return
      Estimation
      6%
      $340,000
      6.5%
      $340,000
      7%
      $355,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $320,000
      Geo Method
      $345,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $275,000
      Retail
      $320,000
      Mixed-Use
      $310,000
      Hospitality
      $310,000
      Educational
      $285,000
      Residential Income
      $325,000
      Energy
      $365,000
      Income-Based Land
      $350,000
      Food Service
      $290,000

    Location Insight

    • Map
    • Local Demand
    City
    Montrose
    County
    Ouray
    State
    Colorado
    Longitude
    -107.779
    Latitude
    38.3257
    CBSA code
    33940
    CBSA name
    MONTROSE, 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
    $2,350
    $8,370
    $36,610
    $44,980
    -
    $30,000
    $131,210
    $161,210

    Comparable in this City

    • Value Estimation
      $285,000
      1,845 SF

      19385 Hwy 550

      RETAIL STORES (PERSONAL SERVICES) • 1,845 SF
      19385 Hwy 550, Montrose, CO 81403-8747
      View Details
    • Value Estimation
      $380,000
      1,836 SF

      555 Spg Crk Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,836 SF
      555 Spg Crk Rd, Montrose, CO 81403-3325
      View Details
    • Value Estimation
      $455,000
      4,684 SF

      10 Bristlecone Dr

      RETAIL STORES (PERSONAL SERVICES) • 4,684 SF
      10 Bristlecone Dr, Montrose, CO 81403-5170
      View Details
    • Value Estimation
      $1,110,000
      3,159 SF

      17656 Hwy 550th, Unit A

      RETAIL STORES (PERSONAL SERVICES) • 3,159 SF
      17656 Hwy 550th, Montrose, CO 81403-8762
      View Details
    • Value Estimation
      $440,000
      2,800 SF

      950 Spg Crk Rd

      CONVENIENCE STORE • 2,800 SF
      950 Spg Crk Rd, Montrose, CO 81403-3334
      View Details
    • Value Estimation
      $580,000
      8,960 SF

      65790 Racine Rd Ste, Unit 1

      AUTO REPAIR, GARAGE • 8,960 SF
      65790 Racine Rd Ste, Montrose, CO 81403-7843
      View Details

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    12 Hotchkiss Ave
    Colona, CO 81403
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    Realmo Value Estimation

    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.

    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.

    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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