Flexible Mixed-Use Commercial
For Sale
$610,500
137 Main Street, Edwards, CO 81632
Commercial Sale, Edwards, CO
Property Size1,221 SF
Lot Size0.02 Acres
Price / SF$500
Days on Market234
Property Features for 137 Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial Condo
Parking features
Assigned
Subdivision
Riverwalk Diamond Bldg. Condo
Standard status
Active
APN
2105-054-27-012
Size
1,221 SF
Lot size
0.02 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
SUBDIVISION: RIVERWALK DIAMOND BLDG CONDOS UNIT: O-201 R669199 DEC 09-14-98 R669200 MAP 09-14-98 R69
Tax Annual Amount
7437
HOA Fee
$682 Monthly
Legal Description
SUBDIVISION: RIVERWALK DIAMOND BLDG CONDOS UNIT: O-201 R669199 DEC 09-14-98 R669200 MAP 09-14-98 R69
Utilities
Utilities
Water Available
Heating system
Forced Air, Natural Gas
Water source
Public
Building Details
Year built
1997
Floors in Building
1
Building materials
Steel Siding, Concrete
Roof type
Asphalt
Listing Agency:
Berkshire Hathaway - Edwards · Berkshire Hathaway HomeServices
(970) 926-8440
Listed By:
Jennie Longville May · License #FA1300765
(970) 390-6617
Added: Jan 16
Changed: Sep 6
Last Checked: Sep 7 at 12:06PM
MLS# 1013348
Copyright © 2026 Vail Board of REALTORS. 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 1,221-square-foot mixed-use commercial condominium was built in 1997 and offers a flexible interior arrangement for customized business use. The property is zoned Commercial Condo and features steel siding and concrete construction, forced-air heating with natural gas, an asphalt roof, and public water service. Water is available at the property.
Situated at The Riverwalk in downtown Edwards, the space provides street-front and underground parking access, assigned parking, and elevator service. The property occupies 0.02 acres and is located at 137 Main Street in Eagle County. Its adaptable configuration supports a range of commercial workspace layouts, subject to applicable approvals.
Situated at The Riverwalk in downtown Edwards, the space provides street-front and underground parking access, assigned parking, and elevator service. The property occupies 0.02 acres and is located at 137 Main Street in Eagle County. Its adaptable configuration supports a range of commercial workspace layouts, subject to applicable approvals.
Key Highlights
- 1,221 square feet of mixed‑use commercial space
- Commercial Condo zoning
- Flexible floor plan for customized workspace
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
$17,143
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
2.81%
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%
$342,860
$342.9K
Cap Rate 7%
$244,900
$244.9K
Cap Rate 9%
$190,478
$190.5K
Market Conditions
NOI Build-Up for 1,221 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
$29.3K $24.00/SF
− Vacancy
−$6.4K −$5.28/SF
EGI
$22.9K $18.72/SF
− OpEx
−$5.7K −$4.68/SF
NOI
$17.1K $14.04/SF
Area
Eagle County, CO
Vacancy
22.00%
Lease Rate
$24.00 /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%
$342,860
Cap Rate 7%
$244,900
Cap Rate 9%
$190,478
Alternative Uses
Best Use
Office B
$244.9K
$214.3K – $285.7K
NOI $17,143 @ 7.0% cap · market cap 2.81%
Second Best
Mixed Use
$216.6K
$189.6K – $252.8K
NOI $15,165 @ 7.0% cap · market cap 2.48%
Theoretical Best
Office A
$334.9K
$293.0K – $390.7K
NOI $23,443 @ 7.0% cap · market cap 3.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,143
Businesses Nearby
Explore this area
Business Placement
Demographics for 81632, CO
11,343
Population
5,529
Households
2.1
Avg Household Size
39
Median Age
58%
College-Educated
94%
High-School Grad
115.9 sq mi
ZIP Area
98
Density / Sq Mi
$92,304
Median Household Income
$49,709
Median Earnings
$1,885
Median Rent
$734,300
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Flexible commercial condo with elevator access, assigned parking, and a customizable floor plan.
Where is this mixed-use property located?
The property is located at 137 Main Street Edwards, CO.
What is the asking price?
The asking price for this property is $610,500.
What are key features of this property?
This property features: 1,221 square feet of mixed‑use commercial space; Commercial Condo zoning; Flexible floor plan for customized workspace
