Auto Repair Garage with
For Sale
Contact for pricing
1165 N Ellicott Hwy, Calhan, CO 80808
Attached high-ceiling auto repair metal building with overhead doors and a 4-bedroom home on 4.64 acres.
Property Size3,429 SF
Lot Size4.64 Acres
Price / SF$379.12
Days on Market111
Property Features for 1165 N Ellicott Hwy
General Information
Standard status
Active
Size
3,429 SF
Total Parking Spaces
20
Lot size
4.64 Acres
Property subtype
Retail, Industrial
Zoning
CS
Site & Location
Road Access
Yes
Fenced Yard
Yes
Utilities to Site
Yes
Additional Details
Furnished
Yes
Building Details
Year Built
1995
Buildings
6
Listing Agency:
McGraw Realtors
Listed By:
Chuck Armstrong · License #FA01049625
(719) 231-3545
Source:
Crexi
Added: May 19
Changed: Sep 3
Last Checked: Sep 4 at 6:28PM
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 McGraw Realtors
Investment Insights
Based on property information with market context.
This property combines a residence with a sizable automotive/workshop metal building. The home is attached to an approximately 4,500 square foot (75' x 60') garage/industrial structure with high ceilings and overhead doors sized 10' x 10' and 12' x 12'. A large multi-purpose room between the main house and garage has been used for functions including a music room, party room, church, office, and meeting room, and it includes a raised stage area; seating will remain with the home. There is also an unused bathroom in the garage that would need renovation, though water and sewer hookups are already in place. There are 5 outbuildings totaling about 2,500 square feet, along with extensive fenced corral area.
Commercial zoning has allowed the current owners to operate a full auto repair business. The home is set back more than 350 feet, and the seller describes road noise as minimal due to the distance and low traffic count. The property is about a half-mile north of the intersection of State Highway 94 and Ellicott Highway, with a gas station and convenience store and a Subway located at that intersection; additional shopping is described as roughly 20 miles away.
The home offers 4 bedrooms and 2 full baths, with radiant heat supported by propane and a newer boiler plus a newer metal roof. Kitchen and living room areas have fresh flooring, wood windows, and appliances that stay with the property.
Commercial zoning has allowed the current owners to operate a full auto repair business. The home is set back more than 350 feet, and the seller describes road noise as minimal due to the distance and low traffic count. The property is about a half-mile north of the intersection of State Highway 94 and Ellicott Highway, with a gas station and convenience store and a Subway located at that intersection; additional shopping is described as roughly 20 miles away.
The home offers 4 bedrooms and 2 full baths, with radiant heat supported by propane and a newer boiler plus a newer metal roof. Kitchen and living room areas have fresh flooring, wood windows, and appliances that stay with the property.
Key Highlights
- 3,429 SF home (4 bedrooms, 2 full baths) attached to a 4,500 SF metal garage/industrial building on 4.64 acres
- Garage features high ceilings and 10' x 10' and 12' x 12' overhead doors for automotive or workshop use
- Commercial zoning supports operation of a full auto repair business (current owners) at the property
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
$49,032
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
3.77%
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%
$980,640
$980.6K
Cap Rate 7%
$700,457
$700.5K
Cap Rate 9%
$544,800
$544.8K
Market Conditions
NOI Build-Up for 3,429 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
$73.7K $21.48/SF
− Vacancy
−$3.6K −$1.05/SF
EGI
$70.0K $20.43/SF
− OpEx
−$21.0K −$6.13/SF
NOI
$49.0K $14.30/SF
Area
El Paso County, CO
Vacancy
4.90%
Lease Rate
$21.48 /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%
$980,640
Cap Rate 7%
$700,457
Cap Rate 9%
$544,800
Alternative Uses
Best Use
Retail
$700.5K
$612.9K – $817.2K
NOI $49,032 @ 7.0% cap · market cap 3.77%
Second Best
Flex RnD
$352.5K
$308.4K – $411.2K
NOI $24,674 @ 7.0% cap · market cap 1.90%
Theoretical Best
Multifamily LT 5
$45.72M
$40.01M – $53.35M
NOI $3,200,731 @ 7.0% cap · market cap 246.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
24
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 80808, CO
6,990
Population
2,631
Households
2.7
Avg Household Size
41
Median Age
20%
College-Educated
91%
High-School Grad
390.9 sq mi
ZIP Area
18
Density / Sq Mi
$72,891
Median Household Income
$40,992
Median Earnings
$970
Median Rent
$328,300
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Attached high-ceiling auto repair metal building with overhead doors and a 4-bedroom home on 4.64 acres.
Where is this flex space located?
The property is located at 1165 N Ellicott Hwy Calhan, CO.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 3,429 SF home (4 bedrooms, 2 full baths) attached to a 4,500 SF metal garage/industrial building on 4.64 acres; Garage features high ceilings and 10' x 10' and 12' x 12' overhead doors for automotive or workshop use; Commercial zoning supports operation of a full auto repair business (current owners) at the property
