Versatile Retail or Office
For Sale
$710,000
26497 Conifer Road Aspen, Conifer, CO 80433
Built in 1961, this fully leased building offers versatile office or retail space and a new septic system.
Property Size3,734 SF
Price / SF$190.14
Days on Market185
Property Features for 26497 Conifer Road Aspen
General Information
Standard status
Active
Size
3,734 SF
Property subtype
Multi Tenant Office
Occupancy
100%
Additional Details
Highway Access
Yes
Building Details
Year Built
1961
Listing Agency:
Evergreen Commercial Group LLC
(303) 838-2000
Listed By:
William Downes · License #FA40043918
(303) 838-2000
Source:
Thebrokerlist
Added: Feb 18
Changed: Jul 22
Last Checked: Aug 22 at 3:29AM
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 Evergreen Commercial Group LLC
Investment Insights
Based on property information with market context.
26497 Conifer Road is a 3,734 SF commercial building built in 1961, currently fully leased and offered with versatile potential for office or retail use. The property sits on a well-parked lot and includes the added benefit of a new septic system.
Located in the Foothills area of Aspen Park, the building provides easy access from north and south Hwy 285 and sits at a key intersection over the highway. The site is also described as having great visibility from Conifer Rd, supporting straightforward customer and tenant access.
Zoned for commercial use, the property is primarily described as retail within the business center of Aspen Park, making it well suited for an owner looking for an income-producing, long-standing commercial asset.
Located in the Foothills area of Aspen Park, the building provides easy access from north and south Hwy 285 and sits at a key intersection over the highway. The site is also described as having great visibility from Conifer Rd, supporting straightforward customer and tenant access.
Zoned for commercial use, the property is primarily described as retail within the business center of Aspen Park, making it well suited for an owner looking for an income-producing, long-standing commercial asset.
Key Highlights
- 3,734 SF commercial building built in 1961 in the Aspen Park Foothills area
- Versatile office or retail use with commercial zoning
- Fully leased 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
$59,640
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
8.40%
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%
$1,192,800
$1.2M
Cap Rate 7%
$852,000
$852.0K
Cap Rate 9%
$662,667
$662.7K
Market Conditions
NOI Build-Up for 3,734 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
$90.1K $24.12/SF
− Vacancy
−$4.9K −$1.30/SF
EGI
$85.2K $22.82/SF
− OpEx
−$25.6K −$6.85/SF
NOI
$59.6K $15.97/SF
Area
Jefferson County, CO
Vacancy
5.40%
Lease Rate
$24.12 /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%
$1,192,800
Cap Rate 7%
$852,000
Cap Rate 9%
$662,667
Alternative Uses
Best Use
Retail
$852.0K
$745.5K – $994.0K
NOI $59,640 @ 7.0% cap · market cap 8.40%
Second Best
Office B
$718.9K
$629.0K – $838.7K
NOI $50,320 @ 7.0% cap · market cap 7.09%
Theoretical Best
Multifamily LT 5
$8.31M
$7.27M – $9.69M
NOI $581,665 @ 7.0% cap · market cap 81.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
351
Businesses Nearby
Explore this area
Business Placement
Demographics for 80433, CO
8,209
Population
3,578
Households
2.3
Avg Household Size
48
Median Age
57%
College-Educated
98%
High-School Grad
66.5 sq mi
ZIP Area
123
Density / Sq Mi
$128,580
Median Household Income
$73,650
Median Earnings
$2,651
Median Rent
$697,700
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Built in 1961, this fully leased building offers versatile office or retail space and a new septic system.
Where is this retail space located?
The property is located at 26497 Conifer Road Aspen Conifer, CO.
What is the asking price?
The asking price for this property is $710,000.
What are key features of this property?
This property features: 3,734 SF commercial building built in 1961 in the Aspen Park Foothills area; Versatile office or retail use with commercial zoning; Fully leased property
