Brick Storefront with Bank
For Sale
$325,000
103 1st Street, Parachute, CO 81635
COMMERCIAL - Parachute, CO
Property Size1,245 SF
Lot Size0.14 Acres
Price / SF$261.04
Days on Market251
Property Features for 103 1st Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
OTC
Subdivision
Townsite of Parachute
Lot features
Corner Lot
Directions
Exit 75 go North, left onto 1st Street. Across from Beasley Park.
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
Legal Description
Section: 12 Township: 7 Range: 96 Subdivision: ORIGINAL TWNSTE PARACHUTE Block: 1 Lot: 13 AND:- Lot: 14 6250 SQUARE FEET
Utilities
Water source
Public
Amenities
original bank vault
repurposed cashier station
tall windows
authentic period details
Building Details
Year built
1906
Floors in Building
1
Building materials
Brick
Roof type
Metal
Listing Agency:
Perrin Elite Properties · RE/MAX International
(970) 285-1128
Listed By:
Amy L Perrin · License #FA100073520
(970) 216-8523
Added: Dec 3, 2025
Changed: Aug 11
Last Checked: Aug 11 at 10:06PM
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.
Investment Insights
Based on property information with market context.
This 1,245-square-foot brick storefront dates to 1906 and underwent remodeling in 2019. The interior includes tall windows, period details, updated lighting, modern mechanical systems, and finishes intended to improve accessibility and comfort. An original bank vault remains in place, while a suspended former cashier station serves as a distinctive architectural element.
The property occupies a prominent corner at 103 1st Street in Parachute, Colorado, providing a visible, walkable setting within the town. The offering includes parcel #240912402003, identified at 3,125 square feet. Public water service, a metal roof, and brick construction complete the core property improvements.
The property occupies a prominent corner at 103 1st Street in Parachute, Colorado, providing a visible, walkable setting within the town. The offering includes parcel #240912402003, identified at 3,125 square feet. Public water service, a metal roof, and brick construction complete the core property improvements.
Key Highlights
- 1,245‑square‑foot commercial storefront
- 1906 brick construction with a 2019 remodel
- Original bank vault remains inside the building
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
$17,926
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
5.52%
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%
$358,520
$358.5K
Cap Rate 7%
$256,086
$256.1K
Cap Rate 9%
$199,178
$199.2K
Market Conditions
NOI Build-Up for 1,245 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
$24.9K $20.04/SF
− Vacancy
−$1.0K −$0.84/SF
EGI
$23.9K $19.20/SF
− OpEx
−$6.0K −$4.80/SF
NOI
$17.9K $14.40/SF
Area
Garfield County, CO
Vacancy
4.20%
Lease Rate
$20.04 /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%
$358,520
Cap Rate 7%
$256,086
Cap Rate 9%
$199,178
Alternative Uses
Best Use
Specialty Retail
$256.1K
$224.1K – $298.8K
NOI $17,926 @ 7.0% cap · market cap 5.52%
Second Best
Retail
$215.1K
$188.3K – $251.0K
NOI $15,060 @ 7.0% cap · market cap 4.63%
Theoretical Best
Office A
$326.1K
$285.3K – $380.4K
NOI $22,824 @ 7.0% cap · market cap 7.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Remodeled commercial space with an original bank vault and preserved period character.
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: 1,245‑square‑foot commercial storefront; 1906 brick construction with a 2019 remodel; Original bank vault remains inside the building
