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

    232 3rd St Rifle, CO 81650-2320

    • Office buildings
    • 1,668 SF
    • 0.11 lot acres
    OFF-MARKET
    Value Estimations
    $375,000
    Show details
    Cap Rate Potential
    7.8%
    Office buildings
    Location Intelligence
    Property ID
    US13-0891891
    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

    • Office buildings

    Property Details for 232 3rd St

    Year built
    1936
    Construction
    METAL FRAME
    Lot size
    0.11 lot acres
    Property size
    1,668 SF
    Property type
    Office buildings
    APN
    217716213006
    APU
    217716213006

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $320,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $420,000
      6.5%
      $390,000
      7%
      $360,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $407,000
      Market price range: $259k - $768k
      AI Estimate
      $211,000
      Market price range: $71.7k - $394k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $505,000
      Current use
      COMMERCIAL (GENERAL)
      $520,000
      Change: +3% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Rifle
    County
    Garfield
    State
    Colorado
    Longitude
    -107.781
    Latitude
    39.5318
    CBSA code
    24060
    CBSA name
    GLENWOOD SPRINGS, 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
    $3,919
    $23,540
    $32,010
    $55,550
    -
    $84,370
    $114,730
    $199,100

    Comparable in this City

    • Value Estimation
      $330,000
      1,468 SF

      758 Railroad Ave

      OFFICE BUILDING • 1,468 SF
      758 Railroad Ave, Rifle, CO 81650-3552
      View Details
    • Value Estimation
      $520,000
      22,500 SF

      400 7th S St

      OFFICE BUILDING • 22,500 SF
      400 7th S St, Rifle, CO 81650-2722
      View Details
    • Value Estimation
      $355,000
      8,400 SF

      201 3rd St

      OFFICE BUILDING • 8,400 SF
      201 3rd St, Rifle, CO 81650-2245
      View Details
    • Value Estimation
      $465,000
      2,098 SF

      1879 264th Rd

      OFFICE BUILDING • 2,098 SF
      1879 264th Rd, Rifle, CO 81650
      View Details
    • Value Estimation
      $400,000
      11,690 SF

      818 Taughenbaugh Blvd

      OFFICE BUILDING • 11,690 SF
      818 Taughenbaugh Blvd, Rifle, CO 81650-2724
      View Details
    • Value Estimation
      $485,000
      2,000 SF

      23899 Hwy 6th 6

      OFFICE BUILDING • 2,000 SF
      23899 Hwy 6th 6, Rifle, CO 81650-8909
      View Details

    Similar Nearby for Sale

    • $485,000

      Commercial Property Near Park Avenue

      Highly visible commercial property in Rifle, Colorado, built in 1997.
      330 Park Ave, Rifle, CO 81650
      View Details
    • $410,000
      1,468 SF

      Rifle Mixed-Use Corner Lot

      Mixed-use property with remodeling potential in a prime location.
      758 Rail Road Ave, Rifle, CO 81650
      View Details
    • $225,000
      1,065 SF

      Adaptable Office Space in Rifle

      Open-concept office space with high visibility in Rifle, Colorado.
      450 West Ave, Rifle, CO 81650
      View Details
    • New
      $350,000
      1,438 SF

      Furnished Commercial Space in Rifle

      Move-in ready, furnished commercial office suite in downtown Rifle, Colorado.
      450 West Ave, Rifle, CO 81650
      View Details
    • $303,000

      Refined Office Space in Rifle

      Second-floor office suite with reception and private offices in Rifle.
      450 Ave West, Rifle, CO 81650
      View Details
    • $225,000

      Adaptable Office Space For Sale

      Open-concept office space with high visibility and customization potential.
      450 Ave West, Rifle, CO 81650
      View Details

    Similar Nearby for Lease

    • $21 SF/Yr

      Commercial Space Above Rib City

      Versatile commercial space with elevator access, available September 1, 2025.
      707 Wapiti Ave, Rifle, CO 81650
      View Details
    • $325 /Mo
      6,098 SF

      Affordable Private Offices in Rifle, CO

      Private offices for rent in renovated building with upgraded amenities.
      111-121 E 3 St, Rifle, CO 81650
      View Details
    • $12 SF/Yr

      Remodeled Office Space in Rifle

      Recently remodeled Class A office space in West Rifle.
      100 Oil Ct, Rifle, CO 81650
      View Details
    • $455 /Mo

      Office Space For Rent

      Office units available for rent with immediate occupancy.
      125 208, Rifle, CO 81650
      View Details
    • $500 /Mo

      Rifle Office Space For Rent

      Office space in Rifle, CO with utilities included.
      125 W 4 St, Rifle, CO 81650
      View Details
    • $16 SF/Yr

      Rifle Warehouse with Roll-Up Doors

      2250 SF warehouse with three 14' roll-up doors.
      762 Buckhorn Dr, Rifle, CO 81650
      View Details
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    232 3rd St
    Rifle, CO 81650-2320
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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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