Split-Use Office
For Sale
$395,000
106 N 8th Street, Silt, CO 81652
COMMERCIAL - Silt, CO
Property Size1,216 SF
Lot Size0.06 Acres
Price / SF$324.84
Days on Market52
Property Features for 106 N 8th Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R2
Subdivision
Townsite of Silt
Directions
From I-70 -- Exit 97 (Silt) 1. Take Exit 97 off I-70 2. Turn north (toward town) off the exit ramp 3. Cross the railroad tracks 4. Turn left on Main Street 5. Go one block west to 8th Street 6. Turn right on 8th Street 7. Property is on the corner -- 106 8th St is on your left
Standard status
Active
APN
217910216009
Size
1,216 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Lot 9A Block 23 Town of Silt According to the Property Boundary Adjustment Plat of Lots 9A and 10A, Block 23 Town of Silt Recorded September 29, 2000 as Reception No. 570040 County of Garfield
Tax Annual Amount
4604
Legal Description
Lot 9A Block 23 Town of Silt According to the Property Boundary Adjustment Plat of Lots 9A and 10A, Block 23 Town of Silt Recorded September 29, 2000 as Reception No. 570040 County of Garfield
Building Details
Year built
2002
Listing Agency:
Coldwell Banker Mason Morse-GWS · Coldwell Banker Real Estate
(970) 928-9000
Listed By:
Ingrid L Wussow · License #FA40047265
(970) 404-5105
Added: Jun 16
Changed: Aug 4
Last Checked: Aug 6 at 6:06PM
MLS# 193342
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 commercial property is laid out with a practical split: a private front office with a separate entry and bathroom, plus a rear warehouse/bay area served by an overhead door. The back portion includes its own bathroom and is supported by tall ceilings, heat, and 3-phase electric.
The building sits on a corner location one block off Main Street, offering visibility along with dedicated on-site asphalt parking. It is configured to serve owner-users who want to operate in part of the space while keeping the remainder usable for another purpose.
Zoning is listed as R2, with public remarks also referencing B1 zoning. With its combination of office amenities at the front and functional warehouse space at the rear, the property can fit businesses that need both customer-facing or administrative space and light industrial storage or operations under one roof, including tenants looking to lease only a portion to help manage occupancy costs.
The building sits on a corner location one block off Main Street, offering visibility along with dedicated on-site asphalt parking. It is configured to serve owner-users who want to operate in part of the space while keeping the remainder usable for another purpose.
Zoning is listed as R2, with public remarks also referencing B1 zoning. With its combination of office amenities at the front and functional warehouse space at the rear, the property can fit businesses that need both customer-facing or administrative space and light industrial storage or operations under one roof, including tenants looking to lease only a portion to help manage occupancy costs.
Key Highlights
- Built in 2002 commercial unit with a smart split layout: front private office with separate entry and bathroom, plus rear warehouse/bay.
- Rear warehouse/bay includes an overhead door, tall ceilings, and its own bathroom.
- 3‑phase electric, heat, and a functional office‑to‑bay configuration for owner‑user or leasing flexibility.
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
$17,224
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
4.36%
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%
$344,480
$344.5K
Cap Rate 7%
$246,057
$246.1K
Cap Rate 9%
$191,378
$191.4K
Market Conditions
NOI Build-Up for 1,216 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
$26.7K $21.96/SF
− Vacancy
−$3.7K −$3.07/SF
EGI
$23.0K $18.89/SF
− OpEx
−$5.7K −$4.72/SF
NOI
$17.2K $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%
$344,480
Cap Rate 7%
$246,057
Cap Rate 9%
$191,378
Alternative Uses
Best Use
Office B
$246.1K
$215.3K – $287.1K
NOI $17,224 @ 7.0% cap · market cap 4.36%
Second Best
Flex RnD
$173.6K
$151.9K – $202.5K
NOI $12,149 @ 7.0% cap · market cap 3.08%
Theoretical Best
Office A
$318.5K
$278.7K – $371.5K
NOI $22,292 @ 7.0% cap · market cap 5.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Yes
Heavy power
Location Intelligence
Trade Area within ½ mile
241
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 81652, CO
5,801
Population
2,223
Households
2.6
Avg Household Size
36
Median Age
26%
College-Educated
89%
High-School Grad
105.4 sq mi
ZIP Area
55
Density / Sq Mi
$97,760
Median Household Income
$47,561
Median Earnings
$2,030
Median Rent
$505,200
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Corner commercial unit with private office and rear warehouse bay, featuring separate entry, overhead door, and dedicated bathroom.
Where is this flex space located?
The property is located at 106 N 8th Street Silt, CO.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Built in 2002 commercial unit with a smart split layout: front private office with separate entry and bathroom, plus rear warehouse/bay.; Rear warehouse/bay includes an overhead door, tall ceilings, and its own bathroom.; 3‑phase electric, heat, and a functional office‑to‑bay configuration for owner‑user or leasing flexibility.
