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    406 Broadway Penrose, CO 81240

    For Sale
    $250,000

    Multi-Use - Penrose, CO

    Property size:
    1,150 SF
    Lot size:
    0.32 Acres
    Days on Market:
    340
    Last Refresh:
    Dec 5 at 3:06 am

    Property Features for 406 Broadway

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Active
    Size
    1,150 SF
    Lot size
    0.32 Acres

    Building Details

    Year built
    1945
    Architectural style
    Other

    20 Sleeps West Real Estate (970) 901-8997 [email protected]

    Listing agent Debra Harmon (970) 901-8997

    Listing date Dec 31, 2024

    MLS# 799685 Listing URL

    Copyright © 2025 Colorado Real Estate Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Penrose Business District Multi-Use Lots

    Located in the Business District of Penrose, Colorado, approximately 12 miles east of Canon City, this property features four lots with multiple hookups. There are two power hookups, two natural gas hookups, two sewer taps, and two water taps. One water tap is a ¾ " line for domestic use, while the other is a 1 ½" line connected to the 1,150 square foot building. Both taps originate from a 4" main line across the street. The property, situated on a 0.32-acre lot, offers income potential through upgrades to the existing laundromat facility and carwash. The carwash is currently inactive, awaiting the installation of an upgraded coin mechanism that will accept credit card transactions. The existing laundromat has the capacity for increased revenue through machine and dryer upgrades. An apartment at the back of the laundromat, complete with a backyard and air conditioning, can be used for rental income. The property is located next to the VFW and in close proximity to the Penrose Park & Recreation District, school, post office, grocery store, and restaurants, presenting an opportunity to improve an existing business or start a new one.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Building Supply Gym & Fitness Skin Care Clinic Accounting Firm Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Penrose
    County
    Fremont
    State
    Colorado
    Longitude
    -105.022063
    Latitude
    38.424494

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    FAQs

    What type of property is this?
    Car wash - Four lots with income potential in Penrose's Business District.
    Where is this car wash located?
    The property is located at 406 Broadway Penrose, CO.
    What is the asking price?
    The asking price for this property is $250,000.
    What are key features of this property?
    This property features: - Four lots in the Business District of Penrose, Colorado.; - Existing laundromat and dormant carwash with upgrade potential for increased revenue.; - Includes (2) power hookups, (2) natural gas hookups, (2) sewer taps, and (2) water taps.
    (970) 901-8997
    Request Owner's contact information
    406 Broadway Penrose, CO 81240
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    Penrose, CO 81240
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    Realmo Value Estimation

    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.

    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.

    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
    406 Broadway Penrose, CO 81240
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