Building Details

Year built 1929

Listing Agency: Real Colorado Properties i***@realcoloradoproperties.com Show Phone

Listed By: Julie Piland · License #100044654 Show Phone

Added: Jun 19 Changed: Sep 16 Last Checked: Oct 9 at 3:06PM

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MLS# 830196

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Investment Insights

Based on property information with market context.

This 2,214-square-foot brick restaurant and saloon occupies a 1929 building on Main Street in Collbran. The interior combines a flexible dining area with a separate saloon featuring custom bar counters added in 2019, tables, chairs, a pool table, jukebox, large-screen TV, and ranch-brand displays. Furniture, equipment, and inventory are included with the operation.

Kitchen improvements include a 4-burner stove, flattop grill, two ovens, and deep fryer installed in 2021, along with a stand-up freezer added in 2023. The property fronts Hwy 330/Main Street and is positioned at the base of Grand Mesa, with access to surrounding outdoor recreation. The site encompasses 0.14 acres and includes two bathrooms.

Key Highlights

• 2,214‑square‑foot brick restaurant and saloon building
• 1929 construction with a flexible dining area and adjoining saloon
• Custom bar counters added in 2019

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$32,536

Cap Rate

8.15%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$650,720 $650.7K

Cap Rate 7%

$464,800 $464.8K

Cap Rate 9%

$361,511 $361.5K

Market Conditions

NOI Build-Up for 2,214 SF

Gross rent

$47.0K $21.24/SF

− Vacancy

−$3.6K −$1.65/SF

EGI

$43.4K $19.59/SF

− OpEx

−$10.8K −$4.90/SF

NOI

$32.5K $14.70/SF

Area

Mesa County, CO

Vacancy

7.75%

Lease Rate

$21.24 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$650,720

Cap Rate 7%

$464,800

Cap Rate 9%

$361,511

Alternative Uses

Best Use

Specialty Retail

$464.8K

$406.7K – $542.3K (±1% cap)

NOI $32,536 @ 7.0% cap · market cap 8.15%

Second Best

—

—

no second resolved use

Theoretical Best

Healthcare Medical

$4.20M

$3.68M – $4.90M (±1% cap)

NOI $294,108 @ 7.0% cap · market cap 73.71%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Collbran Cafe Cafe & Coffee Shop

Suggested Use

Top Pick Building Supply Cafe & Coffee Shop Real Estate Agency Gym & Fitness Center Wine and Liquor Store Hair Salon

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

Lease Details

Turnkey business

Opportunity

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

69

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 81624, CO

1,196

Population

803

Households

1.5

Avg Household Size

47

Median Age

21%

College-Educated

92%

High-School Grad

548.8 sq mi

ZIP Area

2

Density / Sq Mi

$89,900

Median Household Income

$31,382

Median Earnings

$1,563

Median Rent

$467,300

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

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this conventional restaurants located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Conventional restaurant - Established food-and-beverage operation with dining space, bar amenities, furnishings, equipment, and inventory included.

Where is this conventional restaurant located?

The property is located at 108 Main Street Collbran, CO.

What is the asking price?

The asking price for this property is $399,000.

What are key features of this property?

This property features: 2,214‑square‑foot brick restaurant and saloon building; 1929 construction with a flexible dining area and adjoining saloon; Custom bar counters added in 2019