Three-Unit Office Condominium
For Sale
$985,000
Pending
210 Edwards Village Boulevard, Edwards, CO 81632
Commercial Sale, Edwards, CO
Property Size3,632 SF
Lot Size0.20 Acres
Days on Market115
Property Features for 210 Edwards Village Boulevard
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
Commercial
Parking features
Assigned
Subdivision
Edwards Com. Park Sub.
Standard status
Pending
APN
2105-054-25-054
Size
3,632 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Subdivision: EDWARDS COMMERCIAL PARK Unit: C-205 BK-0731 PG-0744 MAP 07-10-97 BK-0731 PG-0745 DEC 07-10-97
Tax Annual Amount
13476
HOA Fee
$2,148 Annually
Legal Description
Subdivision: EDWARDS COMMERCIAL PARK Unit: C-205 BK-0731 PG-0744 MAP 07-10-97 BK-0731 PG-0745 DEC 07-10-97
Utilities
Utilities
Water Available
Heating system
Forced Air
Building Details
Year built
1997
Floors in Building
2
Number of units
1
Building materials
Brick, Concrete
Listing Agency:
Slifer Smith & Frampton- 230 Bridge Street
(970) 476-2421
Listed By:
Paul Gotthelf · License #100012538
(970) 376-1775
Added: May 12
Changed: Aug 19
Last Checked: Sep 3 at 2:06AM
MLS# 1014084
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 offering includes three commercial condominium units totaling 3,632 square feet. The interior is configured around expansive open studio areas with high ceilings and mirrored walls, complemented by locker and changing areas, reception and lounge space, an office, storage, and a restroom. Brick and concrete construction, forced-air heating, assigned parking, and water availability are also included in the property profile.
The units are occupied by an established dance studio, and the existing lease continues through June 2029. Commercial zoning supports the property's current commercial use. Built in 1997, the condominium package provides a defined layout and an in-place tenancy within the Edwards commercial market.
The units are occupied by an established dance studio, and the existing lease continues through June 2029. Commercial zoning supports the property's current commercial use. Built in 1997, the condominium package provides a defined layout and an in-place tenancy within the Edwards commercial market.
Key Highlights
- Three commercial condominium units totaling 3,632 square feet
- Existing lease runs through June 2029
- Open studio areas with high ceilings and mirrored walls
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
$50,993
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
5.18%
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%
$1,019,860
$1.0M
Cap Rate 7%
$728,471
$728.5K
Cap Rate 9%
$566,589
$566.6K
Market Conditions
NOI Build-Up for 3,632 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
$87.2K $24.00/SF
− Vacancy
−$19.2K −$5.28/SF
EGI
$68.0K $18.72/SF
− OpEx
−$17.0K −$4.68/SF
NOI
$51.0K $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%
$1,019,860
Cap Rate 7%
$728,471
Cap Rate 9%
$566,589
Alternative Uses
Best Use
Office B
$728.5K
$637.4K – $849.9K
NOI $50,993 @ 7.0% cap · market cap 5.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$996.2K
$871.7K – $1.16M
NOI $69,734 @ 7.0% cap · market cap 7.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Office units
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,040
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
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Frequently Asked Questions
What type of property is this?
Office units - Leased commercial condominium package with open studio areas, reception space, offices, storage, and restrooms.
Where is this office units located?
The property is located at 210 Edwards Village Boulevard Edwards, CO.
What is the asking price?
The asking price for this property is $985,000.
What are key features of this property?
This property features: Three commercial condominium units totaling 3,632 square feet; Existing lease runs through June 2029; Open studio areas with high ceilings and mirrored walls
