Ground-Level Office
2520 S Grand Avenue Glenwood Springs, CO 81601
For Sale
$675,000
COMMERCIAL - Glenwood Springs, CO
Property Size1,675 SF
Price / SF$402.99
Days on Market181
Property Features for 2520 S Grand Avenue
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- Mixed Use
- Standard status
- Active
- APN
- 218516442004
- Size
- 1,675 SF
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- Section: 16 Township: 6 Range: 89 DESC: A RE-SUB OF LOT 2A PENROSE MINOR SUB-DIV Subdivision: PENROSE PLAZA Unit: 1D STATE EXEMPT #23-01096-11
Building Details
- Year built
- 2002
Listing Agency:
Compass Aspen
(970) 925-6063
Listed By:
Shilo Bartlett · License #FA100069528
(970) 319-0064
Added: Jan 23
Changed: Jul 1
Last Checked: Jul 23 at 2:06PM
MLS# 191510
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 ground-level professional office condominium at Penrose Plaza features its own private exterior entrance and a functional interior layout designed for everyday operations. Unit 104 includes a large open workspace, three private, windowed offices, and a defined entry foyer. The unit also benefits from natural light and direct exterior access, supporting immediate occupancy with minimal reconfiguration. A separately deeded storage unit and one deeded underground parking space are included, enhancing convenience for staff and clients.
The property is located within a mixed-use setting near downtown Glenwood Springs, offering the professional services environment that many office tenants and buyers seek. As a condominium, the suite is positioned for direct use while being part of a larger established building.
The layout makes Unit 104 well-suited for medical, clinical, legal, financial, and other professional service users considering an ownership option. The combination of private exterior entry, private offices, and dedicated parking/storage supports both patient/client traffic and day-to-day team workflows. Buyers looking for an owner-occupied office space should find the configuration practical for professional use with straightforward move-in readiness.
The property is located within a mixed-use setting near downtown Glenwood Springs, offering the professional services environment that many office tenants and buyers seek. As a condominium, the suite is positioned for direct use while being part of a larger established building.
The layout makes Unit 104 well-suited for medical, clinical, legal, financial, and other professional service users considering an ownership option. The combination of private exterior entry, private offices, and dedicated parking/storage supports both patient/client traffic and day-to-day team workflows. Buyers looking for an owner-occupied office space should find the configuration practical for professional use with straightforward move-in readiness.
Key Highlights
- Ground‑level professional office condominium with private exterior entrance.
- Functional layout with large open workspace and three private windowed offices.
- Includes a separately deeded storage unit.
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $36.8k | $21.96 |
| − Vacancy | −$5.1k | −$3.07 |
| EGI | $31.6k | $18.89 |
| − OpEx | −$7.9k | −$4.72 |
| NOI | $23.7k | $14.16 |
1,675 SF · lease $21.96/SF/yr · vacancy 14.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$338.9K
$296.6K – $395.4K
NOI $23,725 @ 7.0% cap · market cap 3.51%
Second Best
Healthcare Medical
$294.8K
$258.0K – $344.0K
NOI $20,638 @ 7.0% cap · market cap 3.06%
Theoretical Best
Office A
$438.7K
$383.8K – $511.8K
NOI $30,706 @ 7.0% cap · market cap 4.55%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Office Units
FAQs
What type of property is this?
Office units - Ground-level office unit with private exterior entrance, flexible layout, and deeded parking for owner-users.
Where is this office units located?
The property is located at 2520 S Grand Avenue Glenwood Springs, CO.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Ground‑level professional office condominium with private exterior entrance.; Functional layout with large open workspace and three private windowed offices.; Includes a separately deeded storage unit.
