Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    227 Midland Ave Ste 15b Basalt, CO 81621-8119

    • Office Properties & Spaces
    • 2,038 SF
    • 0.11 lot acres
    OFF-MARKET
    Last Sale
    May 05, 2021
    $980,000
    Value Estimations
    $855,000
    Show details
    Cap Rate Potential
    3%
    Office Properties & Spaces
    Location Intelligence
    Property ID
    US13-0894172
    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 / Teeth Whitening Service
    • Our Nurses Inc / Home Health Care Service

    Property Details for 227 Midland Ave Ste 15b

    Year built
    2002
    Lot size
    0.11 lot acres
    Property size
    2,038 SF
    Property type
    Office Properties & Spaces
    APN
    2467 074 49 061
    APU
    246707449061

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $845,000
      ML approach
      $860,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $896,000
      Market price range: $470k - $896k
      AI Estimate
      $815,000
      Market price range: $289k - $815k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $725,000
      Current use
      RETAIL STORES
      $900,000
      Change: +25% 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
    $21,713
    $0.00
    $260,010
    $260,010
    -
    $0.00
    $931,930
    $931,930

    Comparable in this City

    • Value Estimation by Request
      12,720 SF

      842 Valley Rd

      Office space • 12,720 SF
      842 Valley Rd, Basalt, CO 81621
      View Details
    • Value Estimation by Request
      1,679 SF

      50 Sunset Dr Ste, Unit 2

      OFFICE (GENERAL) • 1,679 SF
      50 Sunset Dr Ste, Basalt, CO 81621-9304
      View Details
    • Value Estimation by Request
      933 SF

      28 Widget St, Unit 405

      OFFICE (GENERAL) • 933 SF
      28 Widget St, Basalt, CO 81621-6711
      View Details
    • Value Estimation by Request
      527 SF

      218 Vly Rd, Unit 205

      OFFICE (GENERAL) • 527 SF
      218 Vly Rd, Basalt, CO 81621
      View Details
    • Value Estimation by Request
      1,051 SF

      201 Market St, Unit C-100

      OFFICE (GENERAL) • 1,051 SF
      201 Market St, Basalt, CO 81621-7411
      View Details
    • Value Estimation
      $690,000
      3,580 SF

      350 Market St, Unit 1

      OFFICE (GENERAL) • 3,580 SF
      350 Market St, Basalt, CO 81621-7410
      View Details

    Similar Nearby for Sale

    • $740,000
      1,046 SF

      Class-A Office Space in Basalt

      Light and bright office space in Willits Town Center.
      711 E Valley Rd, Basalt, CO 81621
      View Details
    • $499,000
      722 SF

      Basalt Commercial Space with River Views

      Top-floor corner unit with Roaring Fork River views.
      23286 Two Rivers Rd, Basalt, CO 81621
      View Details
    • New
      $1,595,000
      2,038 SF

      Downtown Basalt Office Space

      Office space in historic downtown Basalt, Colorado.
      229 Midland Ave, Basalt, CO 81621
      View Details
    • $2,299,000
      2,275 SF

      Charming Townhome Near Downtown Basalt

      Charming townhome with light-filled spaces, oak floors, and private patios.
      760 Promontory Ln, Basalt, CO 81621
      View Details
    • $16,400,000
      11.76 Acres

      Basalt Mixed-Use Resource Zoned Property

      Mixed-use property with river frontage, existing tenants, and residential home.
      0044 Hooks Ln, Basalt, CO 81621
      View Details
    • $555,000

      Remodeled Retail Space in Basalt

      Chic, remodeled retail space in downtown Basalt with street presence.
      227 Midland Ave, Basalt, CO 81621
      View Details

    Similar Nearby for Lease

    • $90 SF/Yr
      12,720 SF

      Basalt, CO Office Space for Lease

      Premium Office Suites in Willits Town Center
      842 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
    • $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

      Basalt Specialty Property for Rent

      Specialty property available for rent in Basalt, Colorado.
      5 Tree Farm Dr, Basalt, CO 81621
      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
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    227 Midland Ave Ste 15b
    Basalt, CO 81621-8119
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.