Firestone Four-Unit Investment
For Sale
$650,000
126 2nd St, Firestone, CO 80504
Four-unit multifamily property in Firestone, Colorado with long-term tenants.
Property Size3,300 SF
Days on Market129
Property Features for 126 2nd St
General Information
Standard status
Active
Size
3,300 SF
Property subtype
Multifamily
Occupancy
95%
Amenities
Located in Firestone's fast-growing I-25 corridor with high-income households and limited rental supply, ensuring stable occupancy and long-term demand.
Year 1 cap rate of 6.66% provides investors with a compelling entry point and strong cash flow potential, supported by below-market rents and a stable, growing submarket.
Well-maintained 4-unit property with fee-simple ownership, dependable income stream, and proximity to major employment hubs and expanding retail amenities.
Building Details
Building Size
3,300 SF
Units
4
Listing Agency:
(303) 328-2069
Listed By:
David J. Bomgaars · License #License(s): CO: FA100104456
(303) 328-2069
Source:
Marcusmillichap
Added: Apr 3
Changed: Aug 8
Last Checked: Aug 8 at 3:02PM
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 David J. Bomgaars
Investment Insights
Based on property information with market context.
This is a four-unit investment property located at 126 2nd St in Firestone, Colorado. The property offers a rare investment opportunity in one of Colorado’s fastest-growing towns. The units are configured as spacious two-bedroom apartments. The property experiences low turnover and long-term tenancy.
Key Highlights
- Rare 4‑unit investment opportunity in Firestone, CO, a fast‑growing town.
- Low transaction volume area.
- Spacious 2‑bedroom units.
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
$37,979
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
5.84%
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%
$759,580
$759.6K
Cap Rate 7%
$542,557
$542.6K
Cap Rate 9%
$421,989
$422.0K
Market Conditions
NOI Build-Up for 3,300 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
$57.4K $17.40/SF
− Vacancy
−$3.2K −$0.96/SF
EGI
$54.3K $16.44/SF
− OpEx
−$16.3K −$4.93/SF
NOI
$38.0K $11.51/SF
Area
Weld County, CO
Vacancy
5.51%
Lease Rate
$17.40 /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%
$759,580
Cap Rate 7%
$542,557
Cap Rate 9%
$421,989
Alternative Uses
Best Use
Multifamily LT 5
$542.6K
$474.7K – $633.0K
NOI $37,979 @ 7.0% cap · market cap 5.84%
Second Best
Apartment 5plus
$498.3K
$436.0K – $581.3K
NOI $34,878 @ 7.0% cap · market cap 5.37%
Theoretical Best
Office B
$601.4K
$526.3K – $701.7K
NOI $42,100 @ 7.0% cap · market cap 6.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
262
Businesses Nearby
Explore this area
Business Placement
Demographics for 80504, CO
60,183
Population
23,359
Households
2.6
Avg Household Size
38
Median Age
43%
College-Educated
93%
High-School Grad
94.6 sq mi
ZIP Area
636
Density / Sq Mi
$109,671
Median Household Income
$54,317
Median Earnings
$1,895
Median Rent
$556,500
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?
Quadplex - Four-unit multifamily property in Firestone, Colorado with long-term tenants.
Where is this quadplex located?
The property is located at 126 2nd St Firestone, CO.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Rare 4‑unit investment opportunity in Firestone, CO, a fast‑growing town.; Low transaction volume area.; Spacious 2‑bedroom units.
