Industrial Warehouse with
For Sale
$925,000
2673 Jacob Circle #2, Steamboat Springs, CO 80487
Flexible industrial space combines substantial clear height, dedicated power, climate control, and office functionality.
Property Size3,179 SF
Days on Market769
Property Features for 2673 Jacob Circle #2
General Information
Standard status
Active
Size
3,179 SF
Property subtype
Commercial
Warehouse & Industrial
Clear Height
24 ft
Voltage
480 V
Conditioned Warehouse
Yes
Building Details
Building Size
3,179 SF
Year Built
1997
Units
1
Listing Agency:
The Agency Steamboat Springs
(970) 457-6880
Listed By:
Christopher Sias
Source:
Coloradopartners
Added: Jul 15, 2024
Changed: Aug 16
Last Checked: Aug 21 at 1:33PM
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 The Agency Steamboat Springs
Investment Insights
Based on property information with market context.
This warehouse unit at 2673 Jacob Circle #2 in Steamboat Springs provides over 2,100 square feet on the main level, with ceiling heights reaching 24 feet before tapering toward the rear. A steel-supported mezzanine adds storage capacity, while the front portion includes a potential office area, restroom, multiple water connections, and four sinks. Access is provided through a 10-foot-wide by 12-foot-high roll-up door and a separate man door serving both levels.
The property has 480V power, two separate AC systems, and a gas-powered furnace serving the mezzanine. The front warehouse area has 12-foot ceilings and substantial clear height remains below the rear mezzanine. The mezzanine may offer residential-conversion potential subject to applicable code and verification by the buyer. Shared parking is administered by the HOA, and the building was constructed in 1997.
The property has 480V power, two separate AC systems, and a gas-powered furnace serving the mezzanine. The front warehouse area has 12-foot ceilings and substantial clear height remains below the rear mezzanine. The mezzanine may offer residential-conversion potential subject to applicable code and verification by the buyer. Shared parking is administered by the HOA, and the building was constructed in 1997.
Key Highlights
- Over 2,100 square feet on the main level
- Ceiling heights reach 24 feet, tapering toward the rear
- 10' (w) by 12' (h) roll‑up door plus separate man door
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
$50,212
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
5.43%
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%
$1,004,240
$1.0M
Cap Rate 7%
$717,314
$717.3K
Cap Rate 9%
$557,911
$557.9K
Market Conditions
NOI Build-Up for 3,179 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
$85.8K $27.00/SF
− Vacancy
−$8.6K −$2.70/SF
EGI
$77.2K $24.30/SF
− OpEx
−$27.0K −$8.50/SF
NOI
$50.2K $15.80/SF
Area
Routt County, CO
Vacancy
10.00%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
35.00%
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%
$1,004,240
Cap Rate 7%
$717,314
Cap Rate 9%
$557,911
Alternative Uses
Best Use
Warehouse
$1.27M
$1.11M – $1.48M
NOI $89,002 @ 7.0% cap · market cap 9.62%
Second Best
Flex RnD
$717.3K
$627.7K – $836.9K
NOI $50,212 @ 7.0% cap · market cap 5.43%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
24 ft
Clear height
Location Intelligence
Trade Area within ½ mile
518
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 80487, CO
18,209
Population
13,231
Households
1.4
Avg Household Size
42
Median Age
57%
College-Educated
97%
High-School Grad
795.8 sq mi
ZIP Area
23
Density / Sq Mi
$106,837
Median Household Income
$50,551
Median Earnings
$1,927
Median Rent
$915,900
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Flexible industrial space combines substantial clear height, dedicated power, climate control, and office functionality.
Where is this warehouse located?
The property is located at 2673 Jacob Circle #2 Steamboat Springs, CO.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: Over 2,100 square feet on the main level; Ceiling heights reach 24 feet, tapering toward the rear; 10' (w) by 12' (h) roll‑up door plus separate man door
