Freestanding Retail/Office
For Sale
$665,000
131 Sherman St, Fort Morgan, CO 80701
Single-story commercial building on a prominent corner lot with paved frontage and on-site off-street parking.
Property Size4,835 SF
Lot Size0.52 Acres
Price / SF$137.54
Days on Market49
Property Features for 131 Sherman St
General Information
Standard status
Active
Size
4,835 SF
Total Parking Spaces
5
Lot size
0.52 Acres
Property subtype
Commercial
Zoning
Retail TRD
Site & Location
Road Access
Yes
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$11,317
Building Details
Building Size
4,835 SF
Year Built
1955
Stories
1
Units
1
Construction
brick, concrete, frame, and wood siding
Listing Agency:
Colorado Casas Realty
Listed By:
Valerie Beltran
(303) 330-7002
Source:
Elliman
Added: Jul 22
Changed: Aug 22
Last Checked: Sep 7 at 9:07AM
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 Colorado Casas Realty
Investment Insights
Based on property information with market context.
Freestanding single-story commercial property in Fort Morgan, CO offering versatile retail and office-style space. The building is constructed with durable brick, concrete, frame, and wood siding beneath a composition roof. A business center configuration is in place, and the listing notes that fixtures and equipment are included. Safety features include smoke detectors throughout the property, and public water and sewer services are connected. Utilities include electricity, natural gas, and availability of cable and phone.
Set on a prominent corner lot in Morgan County within the Retail TRD zoning district, the site provides paved public road frontage with convenient customer access. The property includes a circular concrete driveway and five off-street parking spaces.
Designed for flexible commercial use, this well-maintained facility combines a functional interior layout with practical site improvements that support day-to-day operations and customer visits.
Set on a prominent corner lot in Morgan County within the Retail TRD zoning district, the site provides paved public road frontage with convenient customer access. The property includes a circular concrete driveway and five off-street parking spaces.
Designed for flexible commercial use, this well-maintained facility combines a functional interior layout with practical site improvements that support day-to-day operations and customer visits.
Key Highlights
- Free‑standing single‑story commercial property built in 1955 with approximately 4,835 SF of retail/commercial space
- Over half‑acre lot (22,500 SF) on a prominent corner with paved public road frontage and customer access
- Brick, concrete, frame, and wood siding construction under a composition 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
$48,635
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
7.31%
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%
$972,700
$972.7K
Cap Rate 7%
$694,786
$694.8K
Cap Rate 9%
$540,389
$540.4K
Market Conditions
NOI Build-Up for 4,835 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
$72.5K $15.00/SF
− Vacancy
−$3.0K −$0.63/SF
EGI
$69.5K $14.37/SF
− OpEx
−$20.8K −$4.31/SF
NOI
$48.6K $10.06/SF
Area
Morgan County, CO
Vacancy
4.20%
Lease Rate
$15.00 /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%
$972,700
Cap Rate 7%
$694,786
Cap Rate 9%
$540,389
Alternative Uses
Best Use
Retail
$694.8K
$607.9K – $810.6K
NOI $48,635 @ 7.0% cap · market cap 7.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.42M
$1.24M – $1.65M
NOI $99,098 @ 7.0% cap · market cap 14.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
850
Businesses Nearby
Explore this area
Business Placement
Demographics for 80701, CO
16,101
Population
6,575
Households
2.4
Avg Household Size
35
Median Age
19%
College-Educated
84%
High-School Grad
616.5 sq mi
ZIP Area
26
Density / Sq Mi
$72,500
Median Household Income
$41,071
Median Earnings
$1,096
Median Rent
$318,100
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Single-story commercial building on a prominent corner lot with paved frontage and on-site off-street parking.
Where is this retail space located?
The property is located at 131 Sherman St Fort Morgan, CO.
What is the asking price?
The asking price for this property is $665,000.
What are key features of this property?
This property features: Free‑standing single‑story commercial property built in 1955 with approximately 4,835 SF of retail/commercial space; Over half‑acre lot (22,500 SF) on a prominent corner with paved public road frontage and customer access; Brick, concrete, frame, and wood siding construction under a composition roof
