Flex Space with Overhead
For Sale
$1,950,000
1015 W 2nd Street, Rifle, CO 81650
Updated commercial building with mezzanine storage and adaptable space for automotive, showroom, warehouse, and light industrial uses.
Property Size9,789 SF
Lot Size1.75 Acres
Price / SF$199.20
Days on Market102
Property Features for 1015 W 2nd Street
General Information
Standard status
Active
Size
9,789 SF
Lot size
1.75 Acres
Property subtype
General Commercial
Site & Location
Road Access
Yes
Outdoor Storage
Yes
Additional Details
Three-Phase Power
Yes
Amenities
security system
3
Building Details
Year Built
1947
Buildings
1
Building Size
9,789 SF
Listing Agency:
Coldwell Banker Distinctive Pr
(970) 243-0456
Listed By:
Chelsea Watkins
Source:
Xome
Added: May 21
Changed: Aug 29
Last Checked: Aug 29 at 7:39PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Distinctive Pr
Investment Insights
Based on property information with market context.
This 9,789-square-foot flex property at 1015 W 2nd Street in Rifle, Colorado, sits on 1.75 acres and includes three overhead doors, 3-phase electrical service, and an upper mezzanine for storage. The building dates to 1947 and has received a new roof, new HVAC system, and fresh interior and exterior paint. A security system is also included.
The property offers room for parking, equipment, inventory, and ongoing operations across its expansive site. Its configuration is suited to retail automotive, showroom, service, warehouse, and light industrial applications, subject to buyer verification of all information and permitted use.
The property offers room for parking, equipment, inventory, and ongoing operations across its expansive site. Its configuration is suited to retail automotive, showroom, service, warehouse, and light industrial applications, subject to buyer verification of all information and permitted use.
Key Highlights
- 9,789 sq ft building on 1.75 acres
- Three overhead doors and 3‑phase electrical service
- Upper mezzanine provides additional storage
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
$118,408
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
6.07%
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%
$2,368,160
$2.4M
Cap Rate 7%
$1,691,543
$1.7M
Cap Rate 9%
$1,315,644
$1.3M
Market Conditions
NOI Build-Up for 9,789 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
$176.2K $18.00/SF
− Vacancy
−$7.0K −$0.72/SF
EGI
$169.2K $17.28/SF
− OpEx
−$50.7K −$5.18/SF
NOI
$118.4K $12.10/SF
Area
Garfield County, CO
Vacancy
4.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$2,368,160
Cap Rate 7%
$1,691,543
Cap Rate 9%
$1,315,644
Alternative Uses
Best Use
Retail
$1.69M
$1.48M – $1.97M
NOI $118,408 @ 7.0% cap · market cap 6.07%
Second Best
Flex RnD
$1.40M
$1.22M – $1.63M
NOI $97,798 @ 7.0% cap · market cap 5.02%
Theoretical Best
Office A
$2.56M
$2.24M – $2.99M
NOI $179,454 @ 7.0% cap · market cap 9.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
509
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 81650, CO
14,336
Population
5,088
Households
2.8
Avg Household Size
34
Median Age
17%
College-Educated
85%
High-School Grad
1,022.7 sq mi
ZIP Area
14
Density / Sq Mi
$81,506
Median Household Income
$41,982
Median Earnings
$1,236
Median Rent
$397,100
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Updated commercial building with mezzanine storage and adaptable space for automotive, showroom, warehouse, and light industrial uses.
Where is this flex space located?
The property is located at 1015 W 2nd Street Rifle, 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: 9,789 sq ft building on 1.75 acres; Three overhead doors and 3‑phase electrical service; Upper mezzanine provides additional storage
