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Property profile & analytics
OFF-MARKET
Estimated value
$635,000
Sports & entertainment properties
198 Main St Limon, CO 80828-2130
Entity Owned
2-yr Hold
Absentee Owner
Free & Clear
Property ID
US13-1807674
Property summary
AI-generated overview
This exceptional investment opportunity presents a 48-unit tiny home village situated on a 3.44-acre lot in Limon, Colorado. The property, located at 198 Main St, Limon, CO 80828, boasts a total of 38,400 square feet of net rentable space housed within a single, one-story building constructed in 2019 and renovated the same year. Currently vacant, this Class C multifamily property offers significant value-add potential. The property features 48 pads, with 16 currently built out and 32 requiring completion. Each unit is designed for efficient living, targeting a growing market for affordable and sustainable housing. The property is zoned for commercial use and benefits from its convenient location off I-70, an area with high traffic volume. The asking price is $715,000, translating to $14,895 per unit. While the current NOI and Cap Rate are 0%, the property's strategic location and high unit count present a compelling opportunity for significant future income generation. The property's APN is 258516301001.
Property profile
Verified
Property type
Sports & entertainment properties
Use group
RECREATIONAL, ENTERTAINMENT
Year built
1973
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
2,860 SF
Lot
0.86 ac (37,505 SF)
APN
258516307002
UPID
US13-1807674
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
C-Store Cigarette Cartons Department Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$515k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$635k
Owner & transaction history
Norwood Investments 84th LLC · 2 yrs held
Norwood Investments 84th LLC
since 2023
Last sale
$650,000
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Limon submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Limon submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$600,000
ML approach
$515,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$635k
Range $572k – $699k · ±10% · vs last sale $650k (Dec 22 2023)
Last sale anchor
$650k
Dec 22 2023
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$222 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$4,728
Tax year 2023
Assessed value
$53,708
Assessed 2023
Previous assessed
$33,444
+60.6% YoY
Effective rate
8.80%
On assessed value
Assessed land
$26,156
Assessed improvement
$27,552
Land market value
$93,750
Improvement market value
$98,751
Total market value
$192,501
Applied tax rate
450.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Sports & entertainment properties
Use group
RECREATIONAL, ENTERTAINMENT
Status
Off-Market
Year built
1973
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
NONE
Stories
1
Rooms
15
Bathrooms
3
Total area
2,860 SF
Lot
0.86 ac (37,505 SF)
APN
258516307002
UPID
US13-1807674
Jurisdiction
LINCOLN
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1973
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
NONE
Cooling
Yes
Stories
1
Rooms
15
Bathrooms
3
Lot
0.86 ac
Current owner
From public records · entity-resolved
Norwood Investments 84th LLC
Entity
Free & Clear · 2 yrs held
Mailing address
20 WILCOX ST UNIT #604, CASTLE ROCK, CO 80104-2054
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 22, 2023
$650,000
Norwood Investments 84th LLC
Roger Guzman
Special Warranty Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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