Free-Standing Corner Retail
For Sale
$665,000
131 Sherman Street, Fort Morgan, CO 80701
Single-story retail/commercial building on a corner lot with paved road frontage, circular driveway, and five off-street parking spaces.
Property Size4,835 SF
Lot Size0.52 Acres
Price / SF$137.54
Days on Market94
Property Features for 131 Sherman Street
General Information
Standard status
Active
Size
4,835 SF
Total Parking Spaces
5
Lot size
0.52 Acres
Property subtype
Retail
Zoning
Retail TRD
Site & Location
Road Access
Yes
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$11,317
Amenities
smoke detectors
Building Details
Year Built
1955
Stories
1
Construction
brick, concrete, frame, and wood siding
Listing Agency:
Colorado Casas Realty
Listed By:
Valerie Beltran
(303) 330-7002
Source:
Xome
Added: Jun 7
Changed: Sep 2
Last Checked: Sep 7 at 4:54AM
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.
This free-standing, single-story retail/commercial building is positioned on a prominent corner lot with durable brick, concrete, frame, and wood siding construction under a composition roof. The property offers a business center configuration with fixtures and equipment included, along with smoke detectors throughout for added safety. A flexible interior layout supports a range of retail, service, office, or mixed commercial uses.
The site includes paved public road frontage and a circular concrete driveway, with five off-street parking spaces to support customer access. Public water and sewer services are connected, and utilities include electricity and natural gas, with cable and phone availability.
Located in the Retail TRD zoning district, the property is offered for sale with the combination of functional single-story space, accessible site improvements, and included fixtures and equipment.
The site includes paved public road frontage and a circular concrete driveway, with five off-street parking spaces to support customer access. Public water and sewer services are connected, and utilities include electricity and natural gas, with cable and phone availability.
Located in the Retail TRD zoning district, the property is offered for sale with the combination of functional single-story space, accessible site improvements, and included fixtures and equipment.
Key Highlights
- Free‑standing single‑story retail/commercial building with approximately 4,835 SF on a 22,500 SF (over half‑acre) corner lot.
- Brick, concrete, and frame/wood siding construction with a composition roof.
- Business‑center configuration with flexible space suitable for retail, service, office, or mixed commercial uses; fixtures and equipment included.
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
Current Use
Lease Details
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1
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 retail/commercial building on a corner lot with paved road frontage, circular driveway, and five off-street parking spaces.
Where is this retail space located?
The property is located at 131 Sherman Street 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 retail/commercial building with approximately 4,835 SF on a 22,500 SF (over half‑acre) corner lot.; Brick, concrete, and frame/wood siding construction with a composition roof.; Business‑center configuration with flexible space suitable for retail, service, office, or mixed commercial uses; fixtures and equipment included.
