Woodland Park/Teller County Market Update � January 2019

Woodland Park/Teller County Market Update � January 2019

Posted on February 7, 2019 by Rocky Mountain Commercial Brokers in Market Updates

Commercial Real Estate sales volume of $27.5M with 36 transactions in 2018 is up significantly 101% compared to sales in 2017 with 38 transactions worth $13.7M. Sales Taxes are up 6% in 2018 compared to taxes collected in 2017. New commercial real estate development projects include Charis Bible College new 3,200 seat auditorium now open, a new 50 Unit “Small Home Village” is set to begin construction 2nd Quarter 2019, Sturman Industries commercial property is under contract � 350 Acres/66,000 SF Office Building listed for $8M, Country Lodge Motel with 64 Rooms is to open before the end of the year, new Natural Grocers store is now open. There were over $20M for 4 transactions in 2018 – 2 Casino Deals, Hospital Sale and Safeway Grocery Store

Woodland Park/Teller County Market Update

 

Item
2017
2018
% +/-
——————————————————————————————————————————————————————————————————
VELOCITY (Source � TCTA )
Item:
2017:
2018:
% +/- :
Commercial Sales Volume
$13.7M
$27.5M
101%
Item:
2017:
2018:
% +/- :
Commercial Transactions
38
36
-5%
SALES TAX INDICATORS (Source � City of Woodland Park)
Item:
2017:
2018:
% +/- :
All Sales Taxes
$625K
$660K
6%
Item:
2017:
2018:
% +/- :
Lodging Taxes
10K
9.5K
-5%
VACANCY RATES
Item:
2017:
2018:
% +/- :
Office
15%
10%
-33%
Item:
2017:
2018:
% +/- :
Retail
15%
10%
-33%
Item:
2017:
2018:
% +/- :
Industrial
12%
5%
-58%
CAP RATES
Item:
2017:
2018:
% +/- :
Office
9-10%
8-9.5%
Item:
2017:
2018:
% +/- :
Retail
6.5-9%
6.5-8%
Item:
2017:
2018:
% +/- :
Industrial
8-10%
8-9%
RESIDENTIAL REAL ESTATE
Item:
2017:
2018:
% +/- :
Residential Home Average Price – Teller County
$272,000
$305,900
12%
Item:
2017:
2018:
% +/- :
Residential Average Price – Woodland Park
$308,000
$345,100
9%
Item :
2017:
2018:
% +/- :
Residential Days on Market – Teller County
103
72
-30%
Item :
2017:
2018:
% +/- :
Residential Days on Market- Woodland Park
79
63
-20%
DEVELOPMENTS
  • Charis Bible College New 3,200 Seat Auditorium Now Open
  • New 50 Unit “Small Home Village” Set to Begin Construction 2nd Quarter 2019
  • Sturman Industries Commercial Property Under Contract � 350 Acres/66,000 SF Office Building Listed for $8M
  • Country Lodge Motel � 64 Rooms to Open Before the End of the Year
  • New Natural Grocers Store Now Open
  • Over $20M for 4 Transactions in 2018 – 2 Casino Deals, Hospital Sale and Safeway Grocery Store
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About The Author

Rocky Mountain Commercial Brokers

Rocky Mountain Commercial Brokers is a group of independent professionals who specialize in the sale and lease of office, retail, healthcare, industrial, investment properties, land and ranches in the Rocky Mountain region. Our commercial real estate broker members have met high standards and recognition in their field and have years of experience with all aspects of commercial real estate.