Multi-Unit Flex
New
For Sale
$1,950,000
6702 Highway 82, Glenwood Springs, CO 81601
Versatile commercial property with separately metered units, warehouse areas, offices, bathrooms, and live/work functionality.
Property Size4,000 SF
Days on Market3
Property Features for 6702 Highway 82
General Information
Standard status
Active
Size
4,000 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$15,522
Building Details
Building Size
4,000 SF
Year Built
1994
Listing Agency:
Coldwell Banker Mason Morse Real Estate
Listed By:
Bronwyn Anglin · License #FA.100029411
(970) 948-7532
Source:
Elliman
Added: Sep 10
Last Checked: Sep 12 at 7:27AM
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 Coldwell Banker Mason Morse Real Estate
Investment Insights
Based on property information with market context.
This flex-space property comprises a 4,000-square-foot warehouse arranged as four separately metered units. Each unit includes one overhead door and one walk-through door. Units 1, 3, and 4 feature 1,000 square feet of two-story kitchen, bathroom, and office space, along with 500 square feet of warehouse area and a loft. Unit 2 provides 1,000 feet of warehouse space with a back room and bathroom. The configuration supports a mix of workspace, storage, and live/work use.
The 1.69-acre property is positioned between Carbondale and Glenwood Springs with access to Highway 82. A flat site above the warehouse is reached by a short driveway. The property also offers views of Mt. Sopris. Built in 1994, the site combines enclosed commercial improvements with additional land area above the existing warehouse.
The 1.69-acre property is positioned between Carbondale and Glenwood Springs with access to Highway 82. A flat site above the warehouse is reached by a short driveway. The property also offers views of Mt. Sopris. Built in 1994, the site combines enclosed commercial improvements with additional land area above the existing warehouse.
Key Highlights
- 1.69‑acre property between Carbondale and Glenwood Springs
- 4,000 sq. ft. warehouse divided into 4 separately metered units
- Each unit has 1 overhead door and 1 walk‑through 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
$56,657
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
2.91%
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%
$1,133,140
$1.1M
Cap Rate 7%
$809,386
$809.4K
Cap Rate 9%
$629,522
$629.5K
Market Conditions
NOI Build-Up for 4,000 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
$87.8K $21.96/SF
− Vacancy
−$12.3K −$3.07/SF
EGI
$75.5K $18.89/SF
− OpEx
−$18.9K −$4.72/SF
NOI
$56.7K $14.16/SF
Area
Garfield County, CO
Vacancy
14.00%
Lease Rate
$21.96 /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%
$1,133,140
Cap Rate 7%
$809,386
Cap Rate 9%
$629,522
Alternative Uses
Best Use
Office B
$809.4K
$708.2K – $944.3K
NOI $56,657 @ 7.0% cap · market cap 2.91%
Second Best
Mixed Use
$590.8K
$516.9K – $689.3K
NOI $41,355 @ 7.0% cap · market cap 2.12%
Theoretical Best
Office A
$1.05M
$916.6K – $1.22M
NOI $73,329 @ 7.0% cap · market cap 3.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
182
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 81601, CO
16,484
Population
6,491
Households
2.5
Avg Household Size
38
Median Age
41%
College-Educated
88%
High-School Grad
367.6 sq mi
ZIP Area
45
Density / Sq Mi
$103,632
Median Household Income
$45,271
Median Earnings
$1,812
Median Rent
$726,000
Median Home Value
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Flex space - Versatile commercial property with separately metered units, warehouse areas, offices, bathrooms, and live/work functionality.
Where is this flex space located?
The property is located at 6702 Highway 82 Glenwood Springs, CO.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: 1.69‑acre property between Carbondale and Glenwood Springs; 4,000 sq. ft. warehouse divided into 4 separately metered units; Each unit has 1 overhead door and 1 walk‑through door
