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

    940 Central Park Dr Ste 207a Steamboat Springs, CO 80487-8853

    • Office buildings
    • 1,623 SF
    OFF-MARKET
    Last Sale
    May 13, 2022
    $590,000
    Value Estimations
    $565,000
    Show details
    Cap Rate Potential
    4.2%
    Office buildings
    Location Intelligence
    Property ID
    US13-2131165
    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

    • Northwest Colorado Health / Community Health Centre / Medical Clinic
    • Yampa Valley Medical Associates, P.C. Steamboat Springs Office / Medical Clinic
    • UCHealth - William Baker MD / Physician
    • UCHealth Ear, Nose and Throat Clinic - Steamboat Springs / Medical Clinic / Physician
    • Jason B. Sigmon MD / Physician

    Property Details for 940 Central Park Dr Ste 207a

    Year built
    2000
    Property size
    1,623 SF
    Property type
    Office buildings
    APN
    223001207
    APU
    223001207

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $685,000
      ML approach
      $605,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $485,000
      6.5%
      $445,000
      7%
      $415,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $466,000
      Market price range: $235k - $598k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $695,000
      Current use
      RETAIL STORES
      $690,000
      Change: -0% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Steamboat Springs
    County
    Routt
    State
    Colorado
    Longitude
    -106.816
    Latitude
    40.4628
    CBSA code
    44460
    CBSA name
    STEAMBOAT 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
    $6,699
    $0.00
    $165,180
    $165,180
    -
    $0.00
    $592,050
    $592,050

    Comparable in this City

    • Value Estimation by Request
      438 SF

      1915 Alpine Plzc-5

      OFFICE BUILDING • 438 SF
      1915 Alpine Plzc-5, Steamboat Springs, CO 80487-2111
      View Details
    • Value Estimation by Request
      0.48 Acres

      115 10th St

      OFFICE BUILDING • 0.48 Acres
      115 10th St, Steamboat Springs, CO 80487
      View Details
    • Value Estimation
      $2,385,000
      9,700 SF

      1205 Hilltop Pkwy

      OFFICE BUILDING • 9,700 SF
      1205 Hilltop Pkwy, Steamboat Springs, CO 80487-3157
      View Details
    • Value Estimation by Request
      1,551 SF

      1169 Hilltop Pkwy, Unit 206A

      OFFICE BUILDING • 1,551 SF
      1169 Hilltop Pkwy, Steamboat Springs, CO 80487-3176
      View Details
    • Value Estimation
      $1,425,000
      5,756 SF

      509 Lincoln Ave

      OFFICE BUILDING • 5,756 SF
      509 Lincoln Ave, Steamboat Springs, CO 80487
      View Details
    • Value Estimation by Request
      1,275 SF

      345 Lincoln Ave, Unit 201

      OFFICE BUILDING • 1,275 SF
      345 Lincoln Ave, Steamboat Springs, CO 80487
      View Details

    Similar Nearby for Sale

    • $3,240,000
      6,334 SF

      Iconic Old Town Corner Building

      Unique 6,334 sq.ft. building in Old Town Steamboat Springs.
      401 Lincoln Ave, Steamboat Springs, CO 80487
      View Details
    • New
      $175,000
      0.13 Acres

      Steamboat Springs Professional Office Space

      Professional office space suitable for light retail in Steamboat Springs.
      2507 Riverside Dr, Steamboat Springs, CO 80487
      View Details
    • $1,345,000

      Prime Downtown Steamboat Office Suite

      Executive office suite in iconic building, adaptable for various uses.
      35 5Th St, Steamboat Springs, CO 80487
      View Details
    • $550,000

      New Construction Commercial Unit

      New commercial unit with finished interiors near downtown Steamboat.
      2110 Taxi Way, Steamboat Springs, CO 80487
      View Details
    • $1,490,000

      Downtown Steamboat Springs Commercial Property

      Established business and real estate opportunity in Steamboat Springs' vibrant downtown.
      700 Yampa St, Steamboat Springs, CO 80487
      View Details
    • Contact for pricing
      0.08 Acres

      Updated Office Space in Steamboat

      Move-in-ready office space with modern amenities and high visibility.
      625 S Lincoln Ave, Steamboat Springs, CO 80487
      View Details

    Similar Nearby for Lease

    • $1,500 /Mo
      5,475 SF

      Steamboat Springs Office Space Available

      Professional office space with shared amenities and convenient location.
      2507 Riverside Dr, Steamboat Springs, CO 80487
      View Details
    • Contact for pricing
      1,200 SF

      Retail Space in Central Park Plaza

      Retail space available for lease in Steamboat Springs, Colorado.
      1805-1815 Central Park Dr, Steamboat Springs, CO 80487
      View Details
    • Contact for pricing
      1,200 SF

      Retail Space in Steamboat Springs

      Retail space available in dominant shopping center anchored by Wal-Mart.
      1815-1835 Central Park Dr, Steamboat Springs, CO 80487
      View Details
    • Contact for pricing

      Prime Commercial Land for Lease

      2.7-acre pad site available for ground lease.
      1801 Lincoln Ave, Steamboat Springs, CO 80487
      View Details
    • $4,700,000
      76,666 SF

      Steamboat Springs Retail Redevelopment Potential

      Leased investment property with redevelopment potential in Steamboat Springs, CO.
      1855 Shield Dr, Steamboat Springs, CO 80487
      View Details
    • $1,425,000
      1,464 SF

      Prime Commercial Space on Lincoln

      Inviting storefront in Steamboat's vibrant downtown corridor.
      907 Lincoln Ave, Steamboat Springs, CO 80487
      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.
    940 Central Park Dr Ste 207a
    Steamboat Springs, CO 80487-8853
    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.