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

    601 Park Ave Montrose, CO 81401-3173

    • Commercial real estate
    • 8,000 SF
    • 2.61 lot acres
    OFF-MARKET
    Value Estimations
    $1,650,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US13-2082307
    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

    • Commercial real estate

    Property Details for 601 Park Ave

    Year built
    1985
    Construction
    STEEL FRAME
    Lot size
    2.61 lot acres
    Property size
    8,000 SF
    Property type
    Commercial real estate
    APN
    3767-281-15-900
    APU
    376728115900

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,813,000
      Market price range: $696k - $1.81M
      AI Estimate
      $1,490,000
      Market price range: $541k - $1.49M

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $1,430,000
      Current use
      OFFICE BUILDING
      $1,510,000
      Change: +6% Conversion: Easy
      AUTO REPAIR, GARAGE
      $1,175,000
      Change: -18% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Montrose
    County
    Montrose
    State
    Colorado
    Longitude
    -107.88
    Latitude
    38.4866
    CBSA code
    33940
    CBSA name
    MONTROSE, 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
    $32,264
    $239,250
    $229,620
    $468,870
    -
    $825,000
    $791,800
    $1,616,800

    Comparable in this City

    • Value Estimation by Request
      1,054 SF

      2400 Main St Ste J

      COMMERCIAL (GENERAL) • 1,054 SF
      2400 Main St Ste J, Montrose, CO 81401-3803
      View Details
    • Value Estimation by Request
      2,500 SF

      1560 Airport Rd

      COMMERCIAL (GENERAL) • 2,500 SF
      1560 Airport Rd, Montrose, CO 81401-5936
      View Details
    • Value Estimation by Request
      995 SF

      242 Main St Ste, Unit 1

      COMMERCIAL (GENERAL) • 995 SF
      242 Main St Ste, Montrose, CO 81401-3349
      View Details
    • Value Estimation by Request
      1,048 SF

      201 3rd St

      COMMERCIAL (GENERAL) • 1,048 SF
      201 3rd St, Montrose, CO 81401-3617
      View Details
    • Value Estimation by Request
      88.20 Acres

      11 Bostwick Park Rd

      Farms • 88.20 Acres
      11 Bostwick Park Rd, Montrose, CO 81401
      View Details
    • Value Estimation by Request

      Main St

      Commercial real estate
      Main St, Montrose, CO 81401
      View Details

    Similar Nearby for Sale

    • $1,390,000
      46.73 Acres

      Montrose Land: 46 Acres, Dual Zoning

      Prime Montrose land: development ready, stunning views.
      50/Iron Horse Dr, Montrose, CO 81401
      View Details
    • $3,181,810

      Montrose Commercial Building - 10,000 SF

      New Construction, 7-Year Lease, High NOI
      3410 Townsend Ave, Montrose, CO 81401
      View Details
    • $675,000
      3,284 SF

      Downtown Montrose Commercial Gem

      Prime location, versatile space, restaurant-ready.
      647 Main St, Montrose, CO 81401
      View Details
    • $950,000
      2.00 Acres

      Montrose Commercial Land Opportunity

      Prime 2-acre commercial lot, ideal for development.
      0 Montrose Dr, Montrose, CO 81401
      View Details
    • $349,888

      Montrose Commercial Land - $349,888

      Two prime commercial lots, ready to build.
      0 Hawk Pkwy, Montrose, CO 81401
      View Details
    • $774,888
      1.22 Acres

      Montrose Commercial Land - $774,888

      Prime Montrose commercial lot, 1.22 acres.
      0 Woodgate Rd, Montrose, CO 81401
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      25,271 SF

      Montrose Retail Space - Prime Location

      Large retail space, sublease opportunity.
      3400 Rio Grande Ave, Montrose, CO 81401
      View Details
    • Contact for pricing
      91,786 SF

      Oxbow Crossing Retail Center

      Montrose Retail Space Available: 1,414 - 4,097 SF
      0 Oxbow Dr, Montrose, CO 81401
      View Details
    • $1,550 /Mo
      913 SF

      Montrose Office Space For Rent

      Office space near Main Street with flexible layout options.
      105 S Mesa Ave, Montrose, CO 81401
      View Details
    • $2,888 /Mo
      15,555 SF

      Montrose Commercial Space For Rent

      Versatile suite ideal for retail, service, or office use.
      1021 Mayfly Dr, Montrose, CO 81401
      View Details
    • $2,993 /Mo

      Versatile Retail/Office Space Available

      Functional suite in growing community hub, ideal for various businesses.
      1021 Mayfly Dr, Montrose, CO 81401
      View Details
    • $2,993 /Mo

      Retail/Office Space For Rent

      Versatile suite suitable for retail, service, or office use.
      1021 Mayfly Dr, Montrose, CO 81401
      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.
    601 Park Ave
    Montrose, CO 81401-3173
    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.