Five-Unit Mixed-Use
For Sale
$1,200,000
120 E 3rd Street Unit 120, Eagle, CO 81631
Combines commercial and residential spaces with solar panels, a newer metal roof, and refreshed interior common areas.
Property Size3,978 SF
Price / SF$301.66
Days on Market118
Property Features for 120 E 3rd Street Unit 120
General Information
Standard status
Active
Size
3,978 SF
Property subtype
Mixed Use
Additional Details
Sprinkler System
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$8,525
Amenities
solar panels
3
Mixed Use
2 Parking Spaces.
Building Details
Year Built
1983
Buildings
1
Listing Agency:
Markethouse Realty, PLLC
(270) 753-4870
Listed By:
Cheryl Roberts · License #247755
Source:
Xome
Added: May 5
Changed: Aug 29
Last Checked: Aug 29 at 9:36PM
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 Markethouse Realty, PLLC
Investment Insights
Based on property information with market context.
This 3,978-square-foot mixed-use building contains five units: two commercial spaces and three residential units. Constructed in 1983, the property includes fire sprinkler protection, solar panels, and a newer metal roof. Interior common areas have been freshly painted, and the building is described as well maintained.
The property is located at 120 E 3rd Street in historic downtown Eagle, Colorado, and includes two parking spaces. Its combination of commercial and residential components creates a clearly defined mixed-use configuration within an established downtown setting.
The property is located at 120 E 3rd Street in historic downtown Eagle, Colorado, and includes two parking spaces. Its combination of commercial and residential components creates a clearly defined mixed-use configuration within an established downtown setting.
Key Highlights
- Five‑unit configuration with 2 commercial units and 3 residential units
- 3,978‑square‑foot building constructed in 1983
- Fire sprinkler system, solar panels, and newer metal roof
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
$49,950
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
4.16%
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%
$999,000
$999.0K
Cap Rate 7%
$713,571
$713.6K
Cap Rate 9%
$555,000
$555.0K
Market Conditions
NOI Build-Up for 3,978 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
$119.3K $30.00/SF
− Vacancy
−$28.5K −$7.17/SF
EGI
$90.8K $22.83/SF
− OpEx
−$40.9K −$10.27/SF
NOI
$49.9K $12.56/SF
Area
Eagle County, CO
Vacancy
23.90%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
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%
$999,000
Cap Rate 7%
$713,571
Cap Rate 9%
$555,000
Alternative Uses
Best Use
Apartment 5plus
$713.6K
$624.4K – $832.5K
NOI $49,950 @ 7.0% cap · market cap 4.16%
Second Best
Mixed Use
$705.8K
$617.6K – $823.5K
NOI $49,407 @ 7.0% cap · market cap 4.12%
Theoretical Best
Office A
$1.09M
$954.7K – $1.27M
NOI $76,378 @ 7.0% cap · market cap 6.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
13
Businesses Nearby
Explore this area
Business Placement
Demographics for 81631, CO
9,017
Population
3,137
Households
2.9
Avg Household Size
39
Median Age
52%
College-Educated
93%
High-School Grad
220.4 sq mi
ZIP Area
41
Density / Sq Mi
$104,430
Median Household Income
$54,994
Median Earnings
$1,685
Median Rent
$717,600
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Combines commercial and residential spaces with solar panels, a newer metal roof, and refreshed interior common areas.
Where is this mixed-use property located?
The property is located at 120 E 3rd Street Unit 120 Eagle, CO.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Five‑unit configuration with 2 commercial units and 3 residential units; 3,978‑square‑foot building constructed in 1983; Fire sprinkler system, solar panels, and newer metal roof
