Downtown Restaurant with Outdoor
For Sale
$575,000
116 Main Street, Oak Creek, CO 80467
Well-equipped restaurant with recent exterior, dining, and kitchen upgrades plus an outdoor patio for customer seating.
Property Size1,333 SF
Price / SF$431.36
Days on Market98
Property Features for 116 Main Street
General Information
Standard status
Active
Size
1,333 SF
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$7,971
Building Details
Year Built
1952
Listing Agency:
The Group Real Estate, LLC
(970) 870-8800
Listed By:
Zach Valicenti
(970) 846-9034
Source:
Xome
Added: Jun 3
Changed: Sep 8
Last Checked: Sep 8 at 3:58AM
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 The Group Real Estate, LLC
Investment Insights
Based on property information with market context.
This restaurant property is established and well-cared for, with meaningful improvements made since its inception in 2022. Reported upgrades include exterior paint, updated lighting, fencing for the outdoor patio area, and a customized private office. Inside, the dining area features luxury vinyl plank flooring, and the commercial kitchen includes griddles, fryer, refrigerators, and prep tables, supporting day-to-day food preparation and service.
Located in downtown Oak Creek at 116 E Main Street, the business sits along Highway 131 for visibility and exposure. The remarks also note plentiful street parking even during busy periods, which can help accommodate regular diners and visiting customers. The property is described as being near outdoor recreation destinations including Stagecoach Reservoir, Steamboat Springs, and the Flat Tops Wilderness.
Zoned for commercial use, the space can serve a variety of needs beyond its current restaurant setup. For an operator, the combination of dining finishes, outdoor patio improvements, and included kitchen equipment may reduce the amount of immediate buildout required to begin or expand a food-and-beverage concept. For buyers, the documented post-2022 improvements and move-in-ready characteristics provide a practical foundation for a new business in the Oak Creek market.
Located in downtown Oak Creek at 116 E Main Street, the business sits along Highway 131 for visibility and exposure. The remarks also note plentiful street parking even during busy periods, which can help accommodate regular diners and visiting customers. The property is described as being near outdoor recreation destinations including Stagecoach Reservoir, Steamboat Springs, and the Flat Tops Wilderness.
Zoned for commercial use, the space can serve a variety of needs beyond its current restaurant setup. For an operator, the combination of dining finishes, outdoor patio improvements, and included kitchen equipment may reduce the amount of immediate buildout required to begin or expand a food-and-beverage concept. For buyers, the documented post-2022 improvements and move-in-ready characteristics provide a practical foundation for a new business in the Oak Creek market.
Key Highlights
- Restaurant building originally built in 1952, zoned for commercial use
- Approx. $100,000 in improvements since 2022, including exterior paint and lighting updates
- Outdoor patio with fencing for customer seating
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
$25,374
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
4.41%
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%
$507,480
$507.5K
Cap Rate 7%
$362,486
$362.5K
Cap Rate 9%
$281,933
$281.9K
Market Conditions
NOI Build-Up for 1,333 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
$36.0K $27.00/SF
− Vacancy
−$2.2K −$1.62/SF
EGI
$33.8K $25.38/SF
− OpEx
−$8.5K −$6.35/SF
NOI
$25.4K $19.04/SF
Area
Routt County, CO
Vacancy
6.00%
Lease Rate
$27.00 /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%
$507,480
Cap Rate 7%
$362,486
Cap Rate 9%
$281,933
Alternative Uses
Best Use
Specialty Retail
$362.5K
$317.2K – $422.9K
NOI $25,374 @ 7.0% cap · market cap 4.41%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$533.1K
$466.5K – $622.0K
NOI $37,320 @ 7.0% cap · market cap 6.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
118
Businesses Nearby
2k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 100%
Select Super Market
Groceries
2,249 visits/mo
0.1 miles
Demographics for 80467, CO
2,302
Population
1,338
Households
1.7
Avg Household Size
43
Median Age
51%
College-Educated
96%
High-School Grad
277.6 sq mi
ZIP Area
8
Density / Sq Mi
$101,300
Median Household Income
$53,824
Median Earnings
$1,413
Median Rent
$644,400
Median Home Value
Market
Vacancy Rate% for Retail 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?
Conventional restaurant - Well-equipped restaurant with recent exterior, dining, and kitchen upgrades plus an outdoor patio for customer seating.
Where is this conventional restaurant located?
The property is located at 116 Main Street Oak Creek, CO.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Restaurant building originally built in 1952, zoned for commercial use; Approx. $100,000 in improvements since 2022, including exterior paint and lighting updates; Outdoor patio with fencing for customer seating
