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    218 4Th St Paonia, CO 81428

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    218 4Th St Paonia, CO 81428

    View on Map
    • Schools
    • 33,860 SF
    • 2.53 lot acres
    Off-Market
    Property ID
    US13-1986946
    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

    • Schools

    Property Details for 218 4Th St

    Year built
    1960
    Lot size
    2.53 lot acres
    Property size
    33,860 SF
    Property type
    Schools

    Description

    This expansive 33,860-square-foot former school building in Paonia, Colorado, presents a unique redevelopment opportunity. Situated on a 2.53-acre lot, this 1960-built property boasts 13 recently updated rooms, several with independent outside access, suggesting potential for multi-unit conversion. The building features a large auditorium/gymnasium with hardwood floors, multiple meeting rooms equipped with overhead projectors, a sizable industrial workshop with a newer ventilation system, and a kitchen facility with existing fixtures. Four ADA-accessible bathrooms are located throughout. The property includes a newer 96% efficient boiler, 208v 3-phase electric, and a camera security system. A large parking area is located behind the building. The existing 2-inch domestic water line has the capacity to service 6-10 single-family homes. Currently zoned public, any change of use will require rezoning by the Town of Paonia; buyers should consult the town regarding intended use. Located within walking distance of Paonia's shopping district and town park, and situated in an Opportunity Zone, this property offers significant potential for adaptive reuse. The building's rich history and prime location make it an exceptional investment prospect for a variety of projects. The existing infrastructure and ample space provide a solid foundation for creative and innovative development.

    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
    Paonia
    County
    Delta
    State
    Colorado
    Longitude
    -107.5964073
    Latitude
    38.8708005

    Comparable in this City

    • $450,000
      2,719 SF

      Historic Paonia Mixed-Use Building

      Downtown Paonia Commercial Gem
      229 Grand Ave, Paonia, CO 81428
      View Details
    • $2,250,000
      4,084 SF

      Exceptional Paonia Winery & Estate

      21-Acre Winery, Tuscan Style, Mountain Views
      16764 Farmer Mine Rd, Paonia, CO 81428
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    • $125,000
      540 SF

      Paonia Brewery & Tasting Room

      Established Business, High Growth Potential
      325 Grand Ave, Paonia, CO 81428
      View Details
    • New
      $277,000
      2.60 Acres

      Land Parcel on Lamborn Mesa

      2.6-acre parcel with irrigated acres and water tap.
      Parcel C - Tbd Lamborn Mesa Rd, Paonia, CO 81428
      View Details
    • New
      $327,000
      2.94 Acres

      Land Parcel Near Paonia

      2.94-acre parcel with water tap near Paonia.
      Parcel D - Tbd Lamborn Mesa Rd, Paonia, CO 81428
      View Details
    • $2,151,000
      2,630 SF

      Colorado Ranch with Irrigated Land

      278-acre ranch near Paonia with water rights and improvements.
      37366 Bone Mesa Rd, Paonia, CO 81428
      View Details

    Similar Nearby for Sale

    • $450,000
      2,719 SF

      Historic Paonia Mixed-Use Building

      Downtown Paonia Commercial Gem
      229 Grand Ave, Paonia, CO 81428
      View Details
    • $2,250,000
      4,084 SF

      Exceptional Paonia Winery & Estate

      21-Acre Winery, Tuscan Style, Mountain Views
      16764 Farmer Mine Rd, Paonia, CO 81428
      View Details
    • $125,000
      540 SF

      Paonia Brewery & Tasting Room

      Established Business, High Growth Potential
      325 Grand Ave, Paonia, CO 81428
      View Details
    • New
      $277,000
      2.60 Acres

      Land Parcel on Lamborn Mesa

      2.6-acre parcel with irrigated acres and water tap.
      Parcel C - Tbd Lamborn Mesa Rd, Paonia, CO 81428
      View Details
    • New
      $327,000
      2.94 Acres

      Land Parcel Near Paonia

      2.94-acre parcel with water tap near Paonia.
      Parcel D - Tbd Lamborn Mesa Rd, Paonia, CO 81428
      View Details
    • $2,151,000
      2,630 SF

      Colorado Ranch with Irrigated Land

      278-acre ranch near Paonia with water rights and improvements.
      37366 Bone Mesa Rd, Paonia, CO 81428
      View Details
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    Paonia, CO 81428
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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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