Duplex Property with Mountain
For Sale
$1,925,000
109 S High Street, Breckenridge, CO 80424
Both units are included, with the property positioned for renovation, redevelopment, or continued duplex use.
Property Size3,936 SF
Price / SF$481.25
Days on Market433
Property Features for 109 S High Street
General Information
Standard status
Active
Size
3,936 SF
Property subtype
Duplex
Zoning
Duplex
Property Condition
Severity
Repairs Needed
Evidence
in need of some TLC
Additional Details
Public Transit
Yes
Multifamily Units
2
Building Details
Building Size
3,936 SF
Year Built
1975
Buildings
1
Stories
3
Listing Agency:
Breckenridge Associates R. E.
(970) 453-2200
Listed By:
Jason Hart · License #FA01323008
Source:
Steamboatmountainrealestate
Added: Jun 19, 2025
Changed: Aug 21
Last Checked: Aug 25 at 8:15AM
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 Breckenridge Associates R. E.
Investment Insights
Based on property information with market context.
This 1975 duplex includes both sides of the property and offers nearly 4,000 square feet of space. The improvements require TLC, creating an opportunity for renovation, redevelopment, or conversion to a single-family residence. The existing duplex configuration may also be retained for rental use, subject to applicable requirements.
The property is located at 109 S High Street in Breckenridge, three blocks from Main Street and within the downtown area. Shops, dining, and recreational activities are nearby, while bus service provides access toward the slopes and surrounding areas. Mountain views are also identified as a feature of the property.
The property is located at 109 S High Street in Breckenridge, three blocks from Main Street and within the downtown area. Shops, dining, and recreational activities are nearby, while bus service provides access toward the slopes and surrounding areas. Mountain views are also identified as a feature of the property.
Key Highlights
- Both sides of the duplex are included
- Nearly 4,000 square feet of space
- Zoned Duplex
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
$66,679
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
3.46%
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%
$1,333,580
$1.3M
Cap Rate 7%
$952,557
$952.6K
Cap Rate 9%
$740,878
$740.9K
Market Conditions
NOI Build-Up for 4,000 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
$100.8K $25.20/SF
− Vacancy
−$5.5K −$1.39/SF
EGI
$95.3K $23.81/SF
− OpEx
−$28.6K −$7.14/SF
NOI
$66.7K $16.67/SF
Area
Summit County, CO
Vacancy
5.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
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%
$1,333,580
Cap Rate 7%
$952,557
Cap Rate 9%
$740,878
Alternative Uses
Best Use
Multifamily LT 5
$952.6K
$833.5K – $1.11M
NOI $66,679 @ 7.0% cap · market cap 3.46%
Second Best
Apartment 5plus
$879.6K
$769.7K – $1.03M
NOI $61,575 @ 7.0% cap · market cap 3.20%
Theoretical Best
Warehouse
$79.62M
$69.66M – $92.88M
NOI $5,573,060 @ 7.0% cap · market cap 289.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
68
Businesses Nearby
Explore this area
Business Placement
Demographics for 80424, CO
10,474
Population
11,886
Households
0.9
Avg Household Size
38
Median Age
55%
College-Educated
94%
High-School Grad
125.9 sq mi
ZIP Area
83
Density / Sq Mi
$109,497
Median Household Income
$49,958
Median Earnings
$2,029
Median Rent
$970,000
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Both units are included, with the property positioned for renovation, redevelopment, or continued duplex use.
Where is this duplex located?
The property is located at 109 S High Street Breckenridge, CO.
What is the asking price?
The asking price for this property is $1,925,000.
What are key features of this property?
This property features: Both sides of the duplex are included; Nearly 4,000 square feet of space; Zoned Duplex
