Highway Auto Shop with Service
For Sale
$3,150,000
1850 Lincoln Avenue, Steamboat Springs, CO 80487
Established collision-repair operation with paint booths, outdoor storage, and customer parking.
Property Size9,464 SF
Lot Size2.00 Acres
Price / SF$331.79
Days on Market2016
Property Features for 1850 Lincoln Avenue
General Information
Standard status
Active
Size
9,464 SF
Lot size
2.00 Acres
Property subtype
Commercial
Zoning
Commercial Services
Financials
Asking Price
$3,150,000
Business Included
Yes
Site & Location
Highway Access
Yes
Road Access
Yes
Outdoor Storage
Yes
Additional Details
Service Bays
12
Amenities
paint booths
Building Details
Building Size
9,464 SF
Year Built
1959
Buildings
1
Abandoned
No
Listing Agency:
The Commercial Property Group, LLC
(970) 879-1402
Listed By:
Bart Kounovsky · License #FA100071436
Source:
Coloradopartners
Added: Feb 21, 2021
Changed: Aug 29
Last Checked: Aug 29 at 1:48PM
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 Commercial Property Group, LLC
Investment Insights
Based on property information with market context.
This offering combines an operating auto body and collision repair business with its associated real estate at 1850 Lincoln Avenue in Steamboat Springs. The property includes a 9,494-square-foot building on 2 acres, with 12 service bays equipped with overhead doors, 2 paint booths, and outdoor storage space. Commercial Services zoning supports the existing automotive use.
The facility occupies a Highway 40 location with customer access and on-site parking. The auto body operation has been established at this location since 1958, while the current owners have operated the business since 1990. Five employees are in place, with tenure ranging from 4 to 21 years. Product inventory, fixtures, and equipment are included, and transition training may be provided as negotiated.
The facility occupies a Highway 40 location with customer access and on-site parking. The auto body operation has been established at this location since 1958, while the current owners have operated the business since 1990. Five employees are in place, with tenure ranging from 4 to 21 years. Product inventory, fixtures, and equipment are included, and transition training may be provided as negotiated.
Key Highlights
- 9,494‑square‑foot building on 2 acres
- 12 service bays with overhead doors
- 2 paint booths and outdoor storage space
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
$161,493
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
5.13%
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%
$3,229,860
$3.2M
Cap Rate 7%
$2,307,043
$2.3M
Cap Rate 9%
$1,794,367
$1.8M
Market Conditions
NOI Build-Up for 9,494 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
$256.3K $27.00/SF
− Vacancy
−$25.6K −$2.70/SF
EGI
$230.7K $24.30/SF
− OpEx
−$69.2K −$7.29/SF
NOI
$161.5K $17.01/SF
Area
Routt County, CO
Vacancy
10.00%
Lease Rate
$27.00 /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%
$3,229,860
Cap Rate 7%
$2,307,043
Cap Rate 9%
$1,794,367
Alternative Uses
Best Use
Retail
$2.31M
$2.02M – $2.69M
NOI $161,493 @ 7.0% cap · market cap 5.13%
Second Best
Industrial
$881.3K
$771.1K – $1.03M
NOI $61,691 @ 7.0% cap · market cap 1.96%
Theoretical Best
Warehouse
$3.80M
$3.32M – $4.43M
NOI $265,803 @ 7.0% cap · market cap 8.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12
Service bays
Turnkey business
Opportunity
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
483
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 Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Auto shop - Established collision-repair operation with paint booths, outdoor storage, and customer parking.
Where is this auto shop located?
The property is located at 1850 Lincoln Avenue Steamboat Springs, CO.
What is the asking price?
The asking price for this property is $3,150,000.
What are key features of this property?
This property features: 9,494‑square‑foot building on 2 acres; 12 service bays with overhead doors; 2 paint booths and outdoor storage space
