Mixed-Use Property with Auto
For Sale
$480,000
307 N Santa Fe Avenue, Fountain, CO 80817
Versatile property featuring an auto repair shop and residential building.
Property Size2,064 SF
Price / SF$232.56
Days on Market487
Property Features for 307 N Santa Fe Avenue
General Information
Standard status
Active
Size
2,064 SF
Taxes and HOA fees
Annual Taxes
$2,635
Building Details
Year Built
1954
Listing Agency:
BERKSHIRE HATHAWAY HOMESERVICES SYNERGY REALTY GROUP
(719) 660-5223
Listed By:
CHARLES D'ALESSIO · License #40034206
Source:
Corcoran
Added: May 1, 2025
Changed: Mar 16
Last Checked: Aug 29 at 8:35AM
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 BERKSHIRE HATHAWAY HOMESERVICES SYNERGY REALTY GROUP
Investment Insights
Based on property information with market context.
This mixed-use property, situated on a 14,000-square-foot lot, includes two buildings suitable for commercial and residential purposes. The primary structure is a 1,200-square-foot auto repair shop equipped with a metal roof, natural gas service, and insulated walls and ceiling. The shop features a 12-foot ceiling height, a 10-foot overhead door, an 8x15 side door, and an additional 8-foot entry, along with service doors at the front and rear. Inside, it contains a private bathroom, a 200-amp electrical panel, and a grease interceptor. Updated sewer and water lines ensure modern functionality. The shop includes three hydraulic lifts—one inside and two in the rear service yard. A detached shed provides additional storage. The second building, an 864-square-foot structure, is currently a single-family residence with one bedroom, a kitchen with tile flooring, a half bath with a separate shower area, and its own storage shed. Zoning regulations allow for conversion of this building to commercial use, offering flexibility for business expansion, rental income, or owner-occupancy with a commercial component. Ample onsite parking and space for storage or equipment make this property suitable for owner-users or investors seeking a versatile asset with strong infrastructure and zoning adaptability.
Key Highlights
- Mixed‑use property featuring a commercial building (auto repair shop) and a residential building on a spacious 14,000 sq ft lot.
- Auto repair shop is equipped with three hydraulic lifts, including one inside and two in the rear service yard.
- Residential building offers conversion potential to commercial use, aligning with existing zoning regulations.
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
$29,514
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
6.15%
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%
$590,280
$590.3K
Cap Rate 7%
$421,629
$421.6K
Cap Rate 9%
$327,933
$327.9K
Market Conditions
NOI Build-Up for 2,064 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
$44.3K $21.48/SF
− Vacancy
−$2.2K −$1.05/SF
EGI
$42.2K $20.43/SF
− OpEx
−$12.6K −$6.13/SF
NOI
$29.5K $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%
$590,280
Cap Rate 7%
$421,629
Cap Rate 9%
$327,933
Alternative Uses
Best Use
Apartment 5plus
$24.47M
$21.42M – $28.55M
NOI $1,713,230 @ 7.0% cap · market cap 356.92%
Second Best
Retail
$421.6K
$368.9K – $491.9K
NOI $29,514 @ 7.0% cap · market cap 6.15%
Theoretical Best
Multifamily LT 5
$27.52M
$24.08M – $32.11M
NOI $1,926,599 @ 7.0% cap · market cap 401.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
292
Businesses Nearby
27k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Loaf 'N Jug
Shops & Services
19,891 visits/mo
0.2 miles
Family Dollar
Shops & Services
6,617 visits/mo
0.1 miles
Demographics for 80817, CO
31,621
Population
11,649
Households
2.7
Avg Household Size
31
Median Age
32%
College-Educated
95%
High-School Grad
115.1 sq mi
ZIP Area
275
Density / Sq Mi
$85,121
Median Household Income
$50,434
Median Earnings
$1,758
Median Rent
$377,300
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.
Similar Off Market Nearby
- Southern Tire Mart — 10611 Charter Oak Ranch Rd, Fountain, CO 80817
- Bruckner's Mack — 6145 Champlin Dr Exit 128 at I-25 and, Santa Fe Ave, Fountain, CO 80817
- Black Sail Cycles — 411 Royalty Pl, Fountain, CO 80817
- Guzzys VW Garage — 411 Royalty Pl, Fountain, CO 80817
- Alabama Auto Body Inc. — 317 S Santa Fe Ave, Fountain, CO 80817
Frequently Asked Questions
What type of property is this?
Auto shop - Versatile property featuring an auto repair shop and residential building.
Where is this auto shop located?
The property is located at 307 N Santa Fe Avenue Fountain, CO.
What is the asking price?
The asking price for this property is $480,000.
What are key features of this property?
This property features: Mixed‑use property featuring a commercial building (auto repair shop) and a residential building on a spacious 14,000 sq ft lot.; Auto repair shop is equipped with **three hydraulic lifts**, including one inside and two in the rear service yard.; Residential building offers conversion potential to commercial use, aligning with existing zoning regulations.
