Combined Retail Space with Mountain
For Sale
$1,200,000
1855 Ski Time Square Drive #103C, Steamboat Springs, CO 80487
Open commercial space in Torian Plum Plaza with ski-area views, large windows, and natural light.
Property Size2,300 SF
Days on Market1168
Property Features for 1855 Ski Time Square Drive #103C
General Information
Standard status
Active
Size
2,300 SF
Total Parking Spaces
4
Property subtype
Commercial
Amenities
large windows
natural light
views
promenade
stream improvements
Building Details
Building Size
2,300 SF
Year Built
1984
Units
2
Listing Agency:
Steamboat Sotheby's International Realty
(970) 879-8100
Listed By:
David Baldinger Jr. · License #1322064
Source:
Coloradopartners
Added: Jun 21, 2023
Changed: Aug 31
Last Checked: Aug 31 at 3:40AM
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 Steamboat Sotheby's International Realty
Investment Insights
Based on property information with market context.
This retail space occupies two units that have been opened and connected into one larger commercial area within Torian Plum Plaza. Large windows bring in natural light, while the space offers views toward the ski area. The property was built in 1984 and is positioned directly beside the slopes of the Steamboat Ski Area.
The plaza is surrounded by ski-in/ski-out properties and receives foot traffic from their guests. Slopeside, Café Diva, and The Paramount are identified as neighboring restaurants. The setting also benefits from a new promenade and stream improvements at the ski-area base, along with year-round activities at the resort. The configuration supports retail or restaurant use as described in the property information.
The plaza is surrounded by ski-in/ski-out properties and receives foot traffic from their guests. Slopeside, Café Diva, and The Paramount are identified as neighboring restaurants. The setting also benefits from a new promenade and stream improvements at the ski-area base, along with year-round activities at the resort. The configuration supports retail or restaurant use as described in the property information.
Key Highlights
- Two units opened and combined into one larger retail space
- Large windows provide natural light and ski‑area views
- Located within Torian Plum Plaza, directly adjacent to the Steamboat Ski Area slopes
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
$43,781
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
3.65%
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%
$875,620
$875.6K
Cap Rate 7%
$625,443
$625.4K
Cap Rate 9%
$486,456
$486.5K
Market Conditions
NOI Build-Up for 2,300 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
$62.1K $27.00/SF
− Vacancy
−$3.7K −$1.62/SF
EGI
$58.4K $25.38/SF
− OpEx
−$14.6K −$6.35/SF
NOI
$43.8K $19.04/SF
Area
Routt County, CO
Vacancy
6.00%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
25.00%
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%
$875,620
Cap Rate 7%
$625,443
Cap Rate 9%
$486,456
Alternative Uses
Best Use
Specialty Retail
$625.4K
$547.3K – $729.7K
NOI $43,781 @ 7.0% cap · market cap 3.65%
Second Best
Retail
$558.9K
$489.0K – $652.1K
NOI $39,123 @ 7.0% cap · market cap 3.26%
Theoretical Best
Warehouse
$919.9K
$804.9K – $1.07M
NOI $64,393 @ 7.0% cap · market cap 5.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
721
Businesses Nearby
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.
Frequently Asked Questions
What type of property is this?
Retail space - Open commercial space in Torian Plum Plaza with ski-area views, large windows, and natural light.
Where is this retail space located?
The property is located at 1855 Ski Time Square Drive #103C Steamboat Springs, CO.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Two units opened and combined into one larger retail space; Large windows provide natural light and ski‑area views; Located within Torian Plum Plaza, directly adjacent to the Steamboat Ski Area slopes
