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    Historic Commercial Building - Remodeled Title is generated by Realmo AI

    103 1st Street, Parachute, CO 81635

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    For Sale
    $325,000

    COMMERCIAL - Parachute, CO

    Property size:
    1,245 SF
    Lot size:
    0.14 Acres
    Price / SF:
    $261/SF
    Added:
    Dec 3, 2025
    Days on Market:
    164
    Last Refresh:
    May 16 at 3:06 pm

    Property Features for 103 1st Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    OTC
    Standard status
    Active
    APN
    240912402004
    Size
    1,245 SF
    Lot size
    0.14 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    Section: 12 Township: 7 Range: 96 Subdivision: ORIGINAL TWNSTE PARACHUTE Block: 1 Lot: 13 AND:- Lot: 14 6250 SQUARE FEET
    Tax Annual Amount
    1243

    Utilities

    Water source
    Public

    Building Details

    Year built
    1906
    Floors in Building
    1
    Building materials
    Brick
    Roof type
    Metal

    We can help!

    Listing Contact
    Amy L Perrin

    Listing agent Amy L Perrin License #FA100073520

    Listing office Perrin Elite Properties 103 1st Street, New Castle, CO

    Listing date Dec 3, 2025

    MLS# 190952

    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.

    HighLights

    • Fully remodeled in 2019, blending modern functionality with historic 1906 charm, making it a turnkey opportunity.
    • Prominent corner location in the heart of town offering exceptional visibility, walkability, and customer access.
    • Unique architectural features, including the original bank vault and repurposed cashier station, provide standout character.
    • Ideal for a variety of businesses (cafe, boutique, office, gallery, etc.) seeking a distinctive and memorable space.
    • Brick construction and distinctive shape provide unmatched curb appeal.
    • Includes parcel # 240912402003 which is 3125 Square feet.

    Overview

    This historic 1906 commercial brick building, remodeled in 2019, blends modern functionality with timeless charm. Located on a corner lot in the heart of town, the property offers visibility, walkability, and business potential. The interior features tall windows, natural light, and period details. The building retains its original bank vault, and the former cashier station has been repurposed as a visual centerpiece. The 2019 remodel enhanced accessibility, efficiency, and comfort with updated mechanicals, lighting, and finishes. The brick exterior and corner-lot placement provide curb appeal and customer access. The property is suitable for a cafe, boutique, office, gallery, or specialty shop. The property size is 1245 square feet and the lot size is 0.14 acres. Includes parcel # 240912402003 which is 3125 Square feet.

    Financial Insights

    Value Estimation Calculated for Office B

    Conservative
    $195.9K
    NOI $17,634 @ 9.00% cap · cautious / downside scenario
    Moderate
    $251.9K
    NOI $17,634 @ 7.00% cap · market / base-case scenario
    Aggressive
    $352.7K
    NOI $17,634 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    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.
         Calculated for Office B

    Component $ $/SF
    Gross rent $27.3k $21.96
    − Vacancy −$3.8k −$3.07
    EGI $23.5k $18.89
    − OpEx −$5.9k −$4.72
    NOI $17.6k $14.16
    1,245 SF · lease $21.96/SF/yr · vacancy 14.00% · expense 25.00%

    Alternative Use Scenarios

    Best Use
    Office B
    $251.9K
    $220.4K – $293.9K (±1% cap)
    NOI $17,634 @ 7.0% cap · market cap 5.43%
    Second Best
    Retail
    $215.1K
    $188.3K – $251.0K (±1% cap)
    NOI $15,060 @ 7.0% cap · market cap 4.63%
    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 local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    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

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Building Supply Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Parachute
    County
    Garfield
    State
    Colorado
    Longitude
    -108.052213
    Latitude
    39.451945

    FAQs

    What type of property is this?
    Storefront property - Remodeled 1906 commercial building with original architectural features.
    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: Fully remodeled in 2019, blending modern functionality with historic 1906 charm, making it a turnkey opportunity.; Prominent corner location in the heart of town offering exceptional visibility, walkability, and customer access.; Unique architectural features, including the original bank vault and repurposed cashier station, provide standout character.
    (970) 216-8523
    We can help!
    Listing Contact
    Amy L Perrin
    Real Estate License ID: FA100073520
    Learn More
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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