Four-Unit Flex
For Sale
$1,950,000
6702 Highway 82, Glenwood Springs, CO 81601
Commercial Sale, Glenwood Springs, CO
Property Size4,000 SF
Lot Size1.69 Acres
Price / SF$487.50
Days on Market57
Property Features for 6702 Highway 82
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial Limited
Directions
HWY 82 to CMC exit. Immediate left on frontage road then right on Stage West Drive to the top.
Subdivision
Glenwood Springs
Standard status
Active
APN
239501100013
Size
4,000 SF
Lot size
1.69 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
M2B in Lot 8 Section 1, T7S, R89W of the 6th P.M. containing 1.69 acres or less, described in the Garfield property record as Section 1, Township 7 Range 89 TR in Lot 8.
Tax Annual Amount
15522
Legal Description
M2B in Lot 8 Section 1, T7S, R89W of the 6th P.M. containing 1.69 acres or less, described in the Garfield property record as Section 1, Township 7 Range 89 TR in Lot 8.
Utilities
Water source
Well
Building Details
Year built
1994
Building materials
Steel Frame
Roof type
Metal
Listing Agency:
Coldwell Banker Mason Morse-Willits · Coldwell Banker Real Estate
(970) 927-3000
Listed By:
Bronwyn Anglin · License #FA.100029411
(970) 948-7532
Added: Jul 18
Changed: Sep 12
Last Checked: Sep 12 at 3:06PM
MLS# 193865
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 4,000-square-foot flex property sits on 1.69 acres and includes four separately metered units within a steel-frame building constructed in 1994. Units 1, 3, and 4 each provide 1,000 square feet across two stories, combining kitchen, bathroom, office, and warehouse areas with loft space. Unit 2 contains 1,000 square feet of warehouse area, along with a back room and bathroom. Each unit has one overhead door and one walk-through door.
A flat site above the existing warehouse is reached by a short driveway and may accommodate future warehouse or residential construction. The property is positioned between Carbondale and Glenwood Springs, with access to Highway 82 and views of Mt. Sopris. Commercial Limited zoning and a well water source are also in place.
A flat site above the existing warehouse is reached by a short driveway and may accommodate future warehouse or residential construction. The property is positioned between Carbondale and Glenwood Springs, with access to Highway 82 and views of Mt. Sopris. Commercial Limited zoning and a well water source are also in place.
Key Highlights
- 1.69‑acre property with a 4,000‑square‑foot warehouse
- Four separately metered units within the warehouse
- Units 1, 3 and 4 include 1,000 square feet over 2 stories
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
$56,657
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
2.91%
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%
$1,133,140
$1.1M
Cap Rate 7%
$809,386
$809.4K
Cap Rate 9%
$629,522
$629.5K
Market Conditions
NOI Build-Up for 4,000 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
$87.8K $21.96/SF
− Vacancy
−$12.3K −$3.07/SF
EGI
$75.5K $18.89/SF
− OpEx
−$18.9K −$4.72/SF
NOI
$56.7K $14.16/SF
Area
Garfield County, CO
Vacancy
14.00%
Lease Rate
$21.96 /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%
$1,133,140
Cap Rate 7%
$809,386
Cap Rate 9%
$629,522
Alternative Uses
Best Use
Office B
$809.4K
$708.2K – $944.3K
NOI $56,657 @ 7.0% cap · market cap 2.91%
Second Best
Mixed Use
$590.8K
$516.9K – $689.3K
NOI $41,355 @ 7.0% cap · market cap 2.12%
Theoretical Best
Office A
$1.05M
$916.6K – $1.22M
NOI $73,329 @ 7.0% cap · market cap 3.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
182
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 81601, CO
16,484
Population
6,491
Households
2.5
Avg Household Size
38
Median Age
41%
College-Educated
88%
High-School Grad
367.6 sq mi
ZIP Area
45
Density / Sq Mi
$103,632
Median Household Income
$45,271
Median Earnings
$1,812
Median Rent
$726,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Flex space - Steel-frame commercial property offering separately metered workspaces with warehouse, office, kitchen, and bathroom areas.
Where is this flex space located?
The property is located at 6702 Highway 82 Glenwood Springs, CO.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: 1.69‑acre property with a 4,000‑square‑foot warehouse; Four separately metered units within the warehouse; Units 1, 3 and 4 include 1,000 square feet over 2 stories
