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    Property profile & analytics

    97 Elk Walk Rd Montrose, CO 81403-7308

    • Hotels
    • 23,945 SF
    • 274.45 lot acres
    OFF-MARKET
    Last Sale
    Oct 21, 2020
    $6,930,000
    Value Estimations
    $6,920,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US13-1694846
    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

    • Hotels

    Property Details for 97 Elk Walk Rd

    Year built
    2004
    Lot size
    274.45 lot acres
    Property size
    23,945 SF
    Property type
    Hotels
    Property subtype
    Motels
    APN
    425916200031
    APU
    425916200031

    Description

    Nestled in the heart of Colorado's Uncompahgre National Forest, this exceptional 226-acre property presents a unique investment opportunity. The Elk Mountain Resort encompasses a substantial 19,384 square foot lodge, seventeen 3-bedroom, 3-bathroom cottages (each 2,035 square feet), and twenty-one luxury suites (416 square feet each). This all-inclusive, four-season retreat boasts an impressive array of amenities designed for recreation and relaxation. These include a massage and therapy salon, sauna, pickleball court, tennis facility, three skeet ranges, a 15,560 square foot tactical shooting facility, snowmobile and ATV park, fishing lake, and an equestrian center. A charming mountain chapel adds a unique touch. The property also features extensive administrative and maintenance infrastructure, comprising a machine shop, wood shop, office and administration space, a large wine cellar, equipment storage, and water and sewer treatment centers. Offered at $19,950,000, this turnkey resort presents a rare chance to acquire a fully operational, high-amenity property in a stunning natural setting. The property's location in Montrose County, Colorado, zip code 81403, at 97 Elk Walk, provides easy access to outdoor activities and stunning natural beauty. This is a truly exceptional opportunity for a discerning investor seeking a high-end, established resort property.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $7,750,000
      ML approach
      $7,585,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $6,904,000
      Market price range: $1.78M - $9.30M

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $5,355,000
      Current use
      OFFICE BUILDING
      $5,440,000
      Change: +2% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Montrose
    County
    Ouray
    State
    Colorado
    Longitude
    -107.976
    Latitude
    38.2495
    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
    $90,483
    $277,570
    $1,643,720
    $1,921,290
    -
    $994,880
    $5,891,440
    $6,886,320

    Comparable in this City

    • Value Estimation
      $1,090,000
      1,044 SF

      7024 County Rd 1st 1

      HOTEL/MOTEL • 1,044 SF
      7024 County Rd 1st 1, Montrose, CO 81403-9449
      View Details
    • Value Estimation
      $920,000
      4,999 SF

      21049 Uncompahgre Rd

      BED & BREAKFAST • 4,999 SF
      21049 Uncompahgre Rd, Montrose, CO 81403-8750
      View Details
    • Value Estimation by Request

      21830 Hwy 550

      CONSTRUCTION/CONTRACTING SERVICES
      21830 Hwy 550, Montrose, CO 81403-8794
      View Details
    • Value Estimation by Request
      1.30 Acres

      Montrose, CO 81403

      VACANT COMMERCIAL LAND • 1.30 Acres
      Montrose, CO 81403
      View Details
    • Value Estimation by Request

      25342 47th Rd

      WAREHOUSE, STORAGE
      25342 47th Rd, Montrose, CO 81403
      View Details
    • Value Estimation by Request
      1,328 SF

      22566 Hwy 550

      CONSTRUCTION/CONTRACTING SERVICES • 1,328 SF
      22566 Hwy 550, Montrose, CO 81403-8700
      View Details

    Similar Nearby for Sale

    • $2,500,000
      9,420 SF

      Montrose Hotel: Turn-Key Opportunity

      Historic Colorado Hotel, Fully Furnished
      21049 Uncompahgre Rd, Montrose, CO 81403
      View Details
    • $190,000
      35.02 Acres

      35 Acres of Untouched Land

      Land with potential for residences, camping, and recreational activities.
      Tbd K57 Trl, Montrose, CO 81403
      View Details
    • $249,000

      Land with Mountain Views and Access

      4.57-acre lot bordering BLM land near Montrose, Colorado.
      2 6300 Rd, Montrose, CO 81403
      View Details
    • $329,000
      5.06 Acres

      Mountain View Homesite Opportunity

      5.06 acre lot with mountain views and utility access.
      3 Tbd County Rd, Montrose, CO 81403
      View Details
    • $360,000

      Commercial Lot on Highway 550

      Prime commercial lot with high visibility and development potential.
      3 Trout Rd, Montrose, CO 81403
      View Details
    • $255,000
      4.13 Acres

      Montrose Residential Land Opportunity

      Spacious Montrose land lot with mountain views and utilities.
      6 County Road 22, Montrose, CO 81403
      View Details
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    97 Elk Walk Rd
    Montrose, CO 81403-7308
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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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