Historic Restaurant and
For Sale
$399,000
108 Main Street, Collbran, CO 81624
Commercial Sale, Collbran, CO
Property Size2,214 SF
Lot Size0.14 Acres
Price / SF$180.22
Days on Market519
Property Features for 108 Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Directions
I-70 to Hwy 675 to Hwy 330 to Collbran. Left on Main St. to property on Right.
Subdivision
Out of Area
Standard status
Active
APN
266735103004
Size
2,214 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOTS 21 + 22 BLK 3 COLLBRAN
Tax Annual Amount
3500
Legal Description
LOTS 21 + 22 BLK 3 COLLBRAN
Utilities
Water source
Public
Building Details
Year built
1929
Floors in Building
1
Building materials
Frame
Roof type
Metal
Listing Agency:
United Country Real Colorado Properties
(970) 256-9700
Listed By:
Julie Piland · License #100044654
(970) 985-0913
Added: Apr 15, 2025
Changed: Sep 12
Last Checked: Sep 15 at 8:06AM
MLS# 187751
Copyright © 2026 Aspen Glenwood MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This restaurant and saloon occupies a 2,214-square-foot building constructed in 1929 on a 0.14-acre parcel. The interior includes a dining area with flexible seating and an adjoining bar area furnished with custom counters, tables, chairs, a pool table, jukebox, and large-screen TV. Furniture, equipment, and inventory are included in the sale. Kitchen improvements include a 4-burner stove, flattop grill, 2 ovens, and deep fryer added in 2021, along with a stand-up freezer installed in 2023.
The property is located at 108 Main Street in Collbran, along Hwy 330/Main Street, with public water service and Commercial zoning. Its setting at the base of Grand Mesa places the operation near a year-round recreation destination and a community serving local residents, hunters, and tourists.
The property is located at 108 Main Street in Collbran, along Hwy 330/Main Street, with public water service and Commercial zoning. Its setting at the base of Grand Mesa places the operation near a year-round recreation destination and a community serving local residents, hunters, and tourists.
Key Highlights
- 2,214‑square‑foot restaurant and saloon building on 0.14 acres
- Constructed in 1929 with Commercial zoning
- Located at 108 Main Street along Hwy 330/Main Street
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$32,536
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.15%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$650,720
$650.7K
Cap Rate 7%
$464,800
$464.8K
Cap Rate 9%
$361,511
$361.5K
Market Conditions
NOI Build-Up for 2,214 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$47.0K $21.24/SF
− Vacancy
−$3.6K −$1.65/SF
EGI
$43.4K $19.59/SF
− OpEx
−$10.8K −$4.90/SF
NOI
$32.5K $14.70/SF
Area
Mesa County, CO
Vacancy
7.75%
Lease Rate
$21.24 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$650,720
Cap Rate 7%
$464,800
Cap Rate 9%
$361,511
Alternative Uses
Best Use
Specialty Retail
$464.8K
$406.7K – $542.3K
NOI $32,536 @ 7.0% cap · market cap 8.15%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$4.20M
$3.68M – $4.90M
NOI $294,108 @ 7.0% cap · market cap 73.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
69
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 81624, CO
1,196
Population
803
Households
1.5
Avg Household Size
47
Median Age
21%
College-Educated
92%
High-School Grad
548.8 sq mi
ZIP Area
2
Density / Sq Mi
$89,900
Median Household Income
$31,382
Median Earnings
$1,563
Median Rent
$467,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Commercially zoned operation includes dining, bar, furnishings, equipment, and inventory.
Where is this conventional restaurant located?
The property is located at 108 Main Street Collbran, CO.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 2,214‑square‑foot restaurant and saloon building on 0.14 acres; Constructed in 1929 with Commercial zoning; Located at 108 Main Street along Hwy 330/Main Street
