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Property profile & analytics
OFF-MARKET
Estimated value
$1,230,000
Office buildings
609 Clinton St Ridgway, CO 81432-5010
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US13-1401049
Property summary
AI-generated overview
This exceptional 9,580 square foot retail property, situated on a 0.18-acre lot at 609 CLINTON Street in the heart of downtown Ridgway, Colorado, presents a unique investment opportunity. Currently fully leased, the building generates strong rental income from a mix of commercial spaces on the main level and Airbnb rooms on the second floor. Known locally as the "Centennial Building," this iconic structure benefits from its central location in a thriving town experiencing significant growth. Ridgway's strategic position as a gateway to Telluride, Ouray, and Montrose attracts a steady stream of tourists and outdoor enthusiasts. The area boasts abundant recreational opportunities, including nearby hot springs, mountain biking trails, live music venues, and the popular Ridgway State Park, a stunning mountain lake setting just 15 minutes away. The high volume of traffic on Highway 550, including the start of the renowned Million Dollar Highway, ensures significant visibility and accessibility. Furthermore, the property offers potential for expansion
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1990
Construction
WOOD
Total area
2,968 SF
Lot
0.24 ac (10,649 SF)
APN
430516209004
UPID
US13-1401049
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Billings Artworks Factory Production Facility
-
Mountain Girl Gallery Art Gallery
-
Kiitellä Art Studio
-
The Vault Vintage and Consignment (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.24M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.18M
Blend (final)
Blend
$1.23M
Owner & transaction history
609 Clinton Street LLC · 5 yrs held
609 Clinton Street LLC
since 2021
Last sale
$1.2M
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Ridgway submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Ridgway submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$1,280,000
ML approach
$1,240,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.23M
Range $1.11M – $1.35M · ±10% · vs last sale $1.23M (Jun 14 2021)
Last sale anchor
$1.23M
Jun 14 2021
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$414 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$21,650
Tax year 2023
Assessed value
$345,730
Assessed 2023
Previous assessed
$345,730
+0.0% YoY
Effective rate
6.26%
On assessed value
Assessed land
$33,560
Assessed improvement
$312,170
Land market value
$179,700
Improvement market value
$2,517,210
Total market value
$2,696,910
Applied tax rate
201.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1990
Construction
WOOD
Heating
FORCED AIR
Cooling
YES
Buildings
3
Units
1
Bathrooms
1
Total area
2,968 SF
Lot
0.24 ac (10,649 SF)
APN
430516209004
UPID
US13-1401049
Jurisdiction
OURAY
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1990
Construction
WOOD
Heating
FORCED AIR
Cooling
Yes
Buildings
3
Units
1
Bathrooms
1
Lot
0.24 ac
Current owner
From public records · entity-resolved
609 Clinton Street LLC
Entity
Mailing address
530 REDCLIFF CIRF-104, RIDGWAY, CO 81432-9243
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 17, 2023
—
609 Clinton Street LLC
—
Deed
related
$1,296,500 · North Valley Bank
Jun 14, 2021
$1,225,000
609 Clinton Street LLC
Laura L Hagert
Special Warranty Deed
$1,100,000 · Tbjfm LLC
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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