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    402 Royal Gorge Blvd Canon City, CO 81212-3747
    Property profile & analytics

    402 Royal Gorge Blvd, Canon City, CO 81212-3747

    View on Map
    • Retail space
    • 2,322 SF
    • 0.28 lot acres
    Off-Market
    Last Sale Jan 19, 2021
    $300,000
    Property ID
    US13-0698867
    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

    • Retail space

    Property Details for 402 Royal Gorge Blvd

    Year built
    1958
    Lot size
    0.28 lot acres
    Property type
    Retail space
    APN
    3821324101004
    APU
    3821324101004

    Description

    This exceptional 2,322-square-foot restaurant space, located at 402 Royal Gorge Blvd in Canon City, Colorado, presents a unique investment opportunity. Priced at $595,000 ($256.24/sq ft), this vacant Class B retail property boasts a prime corner lot (0.28 acres) directly off Highway 50, ensuring high visibility and accessibility. Built in 1958, the building has been remodeled and offers ample off-street parking, multiple access points, and benefits from the high traffic volume of approximately 20,000 vehicles daily on Royal Gorge Blvd. Its strategic location near lodging, the Arkansas River and River Walk, downtown Canon City, and recreational attractions, coupled with its proximity to bustling businesses and an EV charging station across the street, makes it ideal for a variety of retail and food and beverage concepts. The property's APN is 3821324101004. This is a single-unit building with excellent potential for a thriving business in a vibrant tourist area. The property is currently vacant and ready for immediate occupancy. This is a seller-owned property.

    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
    Canon City
    County
    Fremont
    State
    Colorado
    Longitude
    -105.241
    Latitude
    38.439
    CBSA code
    15860
    CBSA name
    CANON CITY, 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
    $12,939
    $0.00
    $0.00
    $151,328
    -
    $0.00
    $0.00
    $542,393

    Comparable in this City

    • Value Estimation
      $1,065,000
      8,880 SF

      910 Main St

      RETAIL STORES (PERSONAL SERVICES)
      910 Main St, Canon City, CO 81212-3410
      View Details
    • Value Estimation
      $595,000
      10,560 SF

      310 Main St

      RETAIL STORES (PERSONAL SERVICES)
      310 Main St, Canon City, CO 81212-3732
      View Details
    • Value Estimation by Request
      2,232 SF

      49311 Us Hwy 50

      RETAIL STORES (PERSONAL SERVICES)
      49311 Us Hwy 50, Canon City, CO 81212-9748
      View Details
    • Value Estimation
      $590,000
      3,860 SF

      401 Water St

      RETAIL STORES (PERSONAL SERVICES)
      401 Water St, Canon City, CO 81212-3761
      View Details
    • Value Estimation by Request
      1,840 SF

      44864 Us Hwy 50

      RETAIL STORES (PERSONAL SERVICES)
      44864 Us Hwy 50, Canon City, CO 81212-9768
      View Details
    • Value Estimation by Request
      2,342 SF

      716 9th St

      RETAIL STORES (PERSONAL SERVICES)
      716 9th St, Canon City, CO 81212-4912
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      1,400 SF

      Retail Space Near Highway 50

      Retail space with high ceilings and significant upgrades.
      121-127 Justice Center Rd, Canon City, CO 81212
      View Details
    • $650,000
      0.22 Acres

      Mixed-Use Building on Highway Frontage

      Commercial and residential units with highway frontage and parking.
      708 Royal Gorge Blvd, Canon City, CO 81212
      View Details
    • $1,090,000
      39,974 SF

      Versatile Commercial Space with Extra Land

      39,974 sq ft commercial space with retail, office, warehouse.
      1630 E Main St, Canon City, CO 81212
      View Details
    • $1,090,000
      39,239 SF

      Versatile Commercial Space with Extra Land

      39,974 sq ft commercial space on 2.42 acres.
      1630 E Main St, Canon City, CO 81212
      View Details
    • Contact for pricing

      Downtown Canon City Retail Pad

      Established retail location with multiple possibilities in downtown Canon City.
      1118 Main St, Canon City, CO 81212
      View Details
    • $349,900
      0.12 Acres

      Main Street Commercial Space Available

      Flexible commercial space in a prime Main Street location.
      1118 Main St, Canon City, CO 81212
      View Details
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    Canon City, CO 81212-3747
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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.

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