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    The Largest CRE Database in the US with Over 1 Million Listings

    2254 Mustang Dr Silt, CO 81652

    Sponsored
    For Sale
    $850,000

    COMMERCIAL - Silt, CO

    Property size:
    4,600 SF
    Lot size:
    0.23 Acres
    Days on Market:
    2
    Last Refresh:
    Jan 31 at 2:06 am

    Property Features for 2254 Mustang Dr

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Zoning
    Commercial
    APN
    217911201162
    Size
    4,600 SF
    Lot size
    0.23 Acres

    Building Details

    Year built
    2003

    We can help!

    Listing Contact
    Travis J Cox

    Keller Williams Colorado West Realty (970) 201-9100

    Listing agent Travis J Cox (970) 216-4534

    Listing date Jan 30, 2026

    MLS# 191497

    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.

    Learn more

    Property Insight Report

    Overview

    Mixed-Use Building with Shop Space

    This 4,600 square foot mixed-use building features a commercial space and a residential apartment. The large shop area includes vaulted ceilings, reaching 19 feet high at the wall and 22 feet high at the apex. A 14-foot wide and 10-foot high overhead door provides access, with 18 feet of clearance when open. The ceiling height under the office mezzanine measures 10 feet. Natural light fills the workspace through large 6x5 windows and high transom windows. Men's and women's bathrooms are equipped with showers, supported by two water heaters with 50-gallon and 75-gallon capacities. The mezzanine offers space for a conference table and desks, along with a locked, fully enclosed office. A header is believed to exist for installing an overhead door for the south bay. The residential apartment spans 800 square feet and includes 1 bedroom and a 3/4 bath, with a private exterior entrance. A 10 ft x 17 ft shed is located south of the building within a secure fenced 28 ft x 22 ft yard. The property provides ample parking with 20 designated spaces. The property is located in Silt, CO, on a 0.23-acre lot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Mullenax Construction & Roofing Roofing Contractor

    Suggested Use

    Restaurant Spa & Massage Building Supply Wholesale Shop Auto Repair Shop Hair Salon Nail Salon Hotel & Motel Auto Parts Store Department Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Silt
    County
    Garfield
    State
    Colorado
    Longitude
    -107.636172
    Latitude
    39.545199

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      Commercial real estate • 2,400 SF
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    FAQs

    What type of property is this?
    Mixed-use property - Commercial building with shop, apartment, and fenced yard.
    Where is this mixed-use property located?
    The property is located at 2254 Mustang Dr Silt, CO.
    What is the asking price?
    The asking price for this property is $850,000.
    What are key features of this property?
    This property features: - 4600 SF commercial building with an 800 SF residential apartment; - **Large shop area with vaulted ceilings (19 ft at wall, 22 ft at apex) and a 14 ft wide x 10 ft high overhead door**; - Abundant natural light from large 6x5 windows and high transom windows
    (970) 216-4534
    Request Owner's contact information
    2254 Mustang Dr Silt, CO 81652
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    Silt, CO 81652
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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
    2254 Mustang Dr Silt, CO 81652
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    We can help!
    Listing Contact
    Travis J Cox
    (970) 216-4534
    Learn more
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