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

    512 Royal Gorge Blvd Canon City, CO 81212

    • Turn key restaurants
    • 3,048 SF
    • 0.12 lot acres
    For Sale
    View listing
    $550,000
    Last Sale
    Oct 04, 2022
    $550,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US13-1095303
    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

    • Turn key restaurants

    Property Details for 512 Royal Gorge Blvd

    Year built
    1888
    Lot size
    0.12 lot acres
    Property size
    3,048 SF
    Property type
    Turn key restaurants
    APN
    11026230
    APU
    11026230

    Description

    This exceptional mixed-use property, located at 512 Royal Gorge Blvd in historic Canon City, Colorado, presents a unique investment opportunity. The 3,049 square foot building, constructed in 1888 and boasting three stories, sits on a lot that includes a paved private parking lot. Currently configured as a German restaurant, the interior has been beautifully remodeled. The property's GC zoning permits a wide range of uses, including restaurants, bars, lounges, professional offices, retail spaces, and medical offices. Its prime location and high traffic area make it ideal for a variety of businesses. Alternatively, the building's character and charm lend themselves to adaptive reuse as a VRBO or Bed & Breakfast. The sale includes all existing business fixtures, offering a turnkey opportunity for a new owner. The asking price is $635,000, translating to $208.27 per square foot. This property offers significant potential for both immediate income generation and long-term appreciation. The zip code is 81212. Don't miss this chance to own a piece of Canon City's rich history and vibrant commercial landscape.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $560,000

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $380,000
      RETAIL STORES
      $370,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Canon City
    County
    Fremont
    State
    Colorado
    Longitude
    -105.239
    Latitude
    38.4397
    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
    $5,641
    $0.00
    $0.00
    $77,391
    -
    $0.00
    $0.00
    $277,388

    Comparable in this City

    • Value Estimation by Request
      3,782 SF

      626 Main St

      RESTAURANT • 3,782 SF
      626 Main St, Canon City, CO 81212-3737
      View Details
    • Value Estimation by Request
      4,181 SF

      1028 Main St

      RESTAURANT • 4,181 SF
      1028 Main St, Canon City, CO 81212-3412
      View Details
    • Value Estimation
      $5,100,000
      12,699 SF

      3075 Us Hwy 50

      RESTAURANT • 12,699 SF
      3075 Us Hwy 50, Canon City, CO 81212-2748
      View Details
    • Value Estimation by Request
      7,920 SF

      631 Main St

      RESTAURANT • 7,920 SF
      631 Main St, Canon City, CO 81212-3736
      View Details
    • Value Estimation by Request
      5,293 SF

      231 Main St

      RESTAURANT • 5,293 SF
      231 Main St, Canon City, CO 81212-3729
      View Details
    • Value Estimation by Request
      2,240 SF

      1310 Royal Gorge Blvd

      RESTAURANT • 2,240 SF
      1310 Royal Gorge Blvd, Canon City, CO 81212-3838
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      5,293 SF

      Historic Canon City Restaurant

      Turn-key Restaurant, 5,293 SF
      231 Main St, Cañon City, CO 81212
      View Details
    • $550,000
      0.24 Acres

      Canon City Commercial Building For Sale

      Commercial building in historic Canon City, Colorado, with parking lot.
      512 Royal Gorge Blvd, Canon City, CO 81212
      View Details
    • $575,000
      0.28 Acres

      Remodeled Commercial Building For Sale

      Remodeled commercial building in Canon City, Colorado, with high visibility.
      402 Royal Gorge Blvd, Canon City, CO 81212
      View Details
    • $6,522,500
      64,561 SF

      Cañon City Retail Center Investment

      High-Occupancy Retail Plaza in Cañon City, CO
      121-127 Justice Ctr Rd, Cañon City, CO 81212
      View Details
    • $350,000
      0.30 Acres

      Versatile Commercial Space in Canon

      Move-in ready office with workshop/storage, ideal for various businesses.
      1421 S 9Th St, Canon City, CO 81212
      View Details
    • $1,575,000
      2.42 Acres

      Versatile Commercial Space with Extra Land

      39,974 sqft commercial space with retail, office, warehouse potential.
      1630 E Main St, Canon City, CO 81212
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Center in Canon City

      Shopping, dining, and entertainment options in a prominent location.
      121 Justice Center Rd, Canon City, CO 81212
      View Details
    • $6,800,000
      1,800 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
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    512 Royal Gorge Blvd
    Canon City, CO 81212
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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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