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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    227 Midland Ave Ste 11a Basalt, CO 81621-8111

    • Retail space
    • 580 SF
    • 0.03 lot acres
    OFF-MARKET
    Value Estimations
    $245,000
    Show details
    Cap Rate Potential
    3.6%
    Retail space
    Location Intelligence
    Property ID
    US13-0381968
    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

    • Stephen Chase / Dental Implants Periodontist
    • TBI Therapy / Medical Clinic / Alternative Medicine Practitioner
    • Wren's Nest Art Studio / Art Studio
    • Basalt Dentistry / Dental Implants Periodontist / Dentist
    • Our Nurses Inc / Home Health Care Service

    Property Details for 227 Midland Ave Ste 11a

    Year built
    2002
    Lot size
    0.03 lot acres
    Property size
    580 SF
    Property type
    Retail space
    APN
    2467 074 49 005
    APU
    246707449005

    Description

    This exceptional 603-square-foot commercial condo, located in the heart of Old Basalt's downtown, presents a unique opportunity. The space boasts a one-of-a-kind, sophisticated interior design by Aspen Design House, seamlessly blending luxury and durability. High-end finishes include Waterworks tile, Brizo faucets, Caesarstone countertops, and Phillip Jeffries wall coverings. Custom walnut accents, built-in cabinetry and hardware, and LED track lighting enhance the refined aesthetic. Large windows on two sides flood the corner unit with natural light, creating a bright and inviting atmosphere ideal for both work and client meetings. The space features central air conditioning, built-in desk areas, and a kitchenette complete with pull-out refrigerator and freezer drawers. A private bathroom is currently undergoing a remodel (design photos available). Clients enter through inviting glass double doors into a spacious seating area with impressive 11-foot ceilings. This turnkey property is priced at $590,000 and offers a rare combination of style, functionality, and prime location in the vibrant Old Basalt district. The property is a general commercial space with no land included.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $230,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $266,000
      Market price range: $157k - $392k
      AI Estimate
      $156,000
      Market price range: $70.4k - $207k

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $255,000
      Current use
      COMMERCIAL (GENERAL)
      $205,000
      Change: -20% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Basalt
    County
    Eagle
    State
    Colorado
    Longitude
    -107.032
    Latitude
    39.3688
    CBSA code
    20780
    CBSA name
    EDWARDS, 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
    $4,646
    $0.00
    $55,630
    $55,630
    -
    $0.00
    $199,380
    $199,380

    Comparable in this City

    • Value Estimation
      $315,000
      624 SF

      227 Midland Ave Ste C6

      RETAIL STORES (PERSONAL SERVICES) • 624 SF
      227 Midland Ave Ste C6, Basalt, CO 81621-8119
      View Details
    • Value Estimation
      $275,000
      1,168 SF

      218 Vly Rd, Unit 102

      RETAIL STORES (PERSONAL SERVICES) • 1,168 SF
      218 Vly Rd, Basalt, CO 81621
      View Details
    • Value Estimation
      $1,420,000
      54,856 SF

      741 Vly Rd

      RETAIL STORES (PERSONAL SERVICES) • 54,856 SF
      741 Vly Rd, Basalt, CO 81621-8368
      View Details
    • Value Estimation
      $275,000
      1,156 SF

      218 Vly Rd, Unit 106

      RETAIL STORES (PERSONAL SERVICES) • 1,156 SF
      218 Vly Rd, Basalt, CO 81621
      View Details
    • Value Estimation
      $5,830,000
      22,240 SF

      140 Basalt Ctr Cir

      RETAIL STORES (PERSONAL SERVICES) • 22,240 SF
      140 Basalt Ctr Cir, Basalt, CO 81621-8900
      View Details
    • Value Estimation
      $230,000
      1,850 SF

      361 Market St, Unit R707

      RETAIL STORES (PERSONAL SERVICES) • 1,850 SF
      361 Market St, Basalt, CO 81621-7409
      View Details

    Similar Nearby for Sale

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      High visibility commercial space in Willits neighborhood.
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      Approved development rights for retail and deed-restricted housing.
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    • $12,500,000
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      Historic Landmark Mixed-Use Potential

      Iconic Basalt property with redevelopment potential in prime downtown location.
      165 Midland Ave, Basalt, CO 81621
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    • $225,000

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      Prime restaurant lease opportunity in historic downtown Basalt.
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      7,000 SF commercial space with extensive cold storage.
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    Similar Nearby for Lease

    • $24 SF/Yr
      Pending

      Prime Corner Retail Space Basalt

      Corner retail space in downtown Basalt with high visibility.
      355 Gold Rivers Ct, Basalt, CO 81621
      View Details
    • $67 SF/Yr

      Prime Retail Space in Basalt

      Excellent commercial opportunity in the heart of Willits Town Center.
      780 E Valley Rd, Basalt, CO 81621
      View Details
    • $35 SF/Yr

      Retail Space in Revitalized Downtown

      Street-level retail space ideal for showroom, fitness, or wellness concepts.
      207 Basalt Ctr Cir, Basalt, CO 81621
      View Details
    • $3,500 /Mo
      788 SF

      Loft Apartment with Gym Access

      West-facing 1-bedroom loft with modern amenities and convenient location.
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    • $35 SF/Yr

      Basalt Specialty Property for Rent

      Specialty property available for rent in Basalt, Colorado.
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      View Details
    • $6,400 /Mo

      Luxury Furnished Condo in Basalt

      Luxury 2-bedroom condo in downtown Basalt available for lease.
      227 Midland Ave, Basalt, CO 81621
      View Details
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    227 Midland Ave Ste 11a
    Basalt, CO 81621-8111
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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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