Building Details

Building Size 1,245 SF

Year Built 1906

Year Renovated 2019

Stories 1

Construction brick

Listing Agency: Perrin Elite Properties Show Phone

Listed By: Amy L Perrin · License #FA100073520 Show Phone

Source: Frontierhomeandranch

Added: Oct 20 Changed: Oct 23 Last Checked: Oct 23 at 5:40PM

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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 Perrin Elite Properties

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Investment Insights

Based on property information with market context.

Built in 1906, this brick storefront features tall windows, an original bank vault, and a former cashier station suspended as an interior focal point. The building was remodeled in 2019, with updates to accessibility, mechanical systems, lighting, and finishes. Zoning is OTC.

The property occupies a corner at 103 1st Street in Parachute, Colorado. The sale includes parcel #240912402003, which measures 3125 square feet.

Key Highlights

• 1906 brick storefront remodeled in 2019
• Original bank vault and suspended former cashier station
• Tall windows bring natural light into the interior

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$15,060

Cap Rate

4.63%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$301,200 $301.2K

Cap Rate 7%

$215,143 $215.1K

Cap Rate 9%

$167,333 $167.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,245 SF

Gross rent

$22.4K $18.00/SF

− Vacancy

−$896 −$0.72/SF

EGI

$21.5K $17.28/SF

− OpEx

−$6.5K −$5.18/SF

NOI

$15.1K $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 Rate 5%

$301,200

Cap Rate 7%

$215,143

Cap Rate 9%

$167,333

Alternative Uses

Best Use

Retail

$215.1K

$188.3K – $251.0K (±1% cap)

NOI $15,060 @ 7.0% cap · market cap 4.63%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$326.1K

$285.3K – $380.4K (±1% cap)

NOI $22,824 @ 7.0% cap · market cap 7.02%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

RE/MAX Elite Properties Real Estate Agency Motto Mortgage Optimum ... Loan Service Amy Perrin Motto ... Loan Service Motto Mortgage Optimum Loan Service Cynthea Hurst Motto ... Loan Service

Suggested Use

Top Pick Auto Parts Store HVAC Service Real Estate Agency Parking Lot & Garage Kitchen & Bath Showroom Spa & Massage Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

243

Businesses Nearby

11k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 98% Hotels & Casinos 2%

Family Dollar Shops & Services

3,987 visits/mo 0.1 miles

Shell Shops & Services

1,992 visits/mo 0.4 miles

Napa Auto Parts Shops & Services

1,978 visits/mo 0.3 miles

Sinclair Shops & Services

1,419 visits/mo 0.3 miles

Sinclair Shops & Services

1,215 visits/mo 0.2 miles

Demographics for 81635, CO

7,185

Population

3,066

Households

2.3

Avg Household Size

34

Median Age

24%

College-Educated

89%

High-School Grad

331.5 sq mi

ZIP Area

22

Density / Sq Mi

$68,865

Median Household Income

$41,082

Median Earnings

$998

Median Rent

$251,900

Median Home Value

Market

Vacancy Rate% for Retail in West region

7% 2020

6.3% 2021

5.5% 2022

5.3% 2023

5.5% 2024

5.8% 2025

Similar For Sale Nearby

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258 S Railroad Avenue, Parachute, CO 81635

$699,000

1,700 SF

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Mixed-Use Building with Apartment

248 E 1st St, Parachute, CO 81635

$499,000

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Storefront Retail Building

315 E 1st Street #A & B, Parachute, CO 81635

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Frequently Asked Questions

What type of property is this?

Storefront property - A 2019 renovation updated the building while retaining its original bank vault and suspended cashier station.

Where is this storefront property located?

The property is located at 103 1st Street Parachute, CO.

What is the asking price?

The asking price for this property is $325,000.

What are key features of this property?

This property features: 1906 brick storefront remodeled in 2019; Original bank vault and suspended former cashier station; Tall windows bring natural light into the interior