Industrial Locker Plant
For Sale
$599,000
140 8th Street, Silt, CO 81652
One-level concrete block industrial building with office space and multiple coolers, suitable for cold-storage reconfiguration.
Property Size2,892 SF
Lot Size0.32 Acres
Price / SF$207.12
Days on Market147
Property Features for 140 8th Street
General Information
Standard status
Active
Size
2,892 SF
Lot size
0.32 Acres
Property subtype
General Commercial
Amenities
3
Building Details
Year Built
1946
Stories
1
Listing Agency:
RE/MAX Mountain West
(970) 379-3907
Listed By:
Michael Kennedy · License #EA781235
(970) 379-3907
Source:
Xome
Added: Mar 21
Changed: Aug 14
Last Checked: Aug 14 at 10:31AM
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 RE/MAX Mountain West
Investment Insights
Based on property information with market context.
The property is a one-level concrete block industrial building currently operated as a locker plant. The layout includes a small office area and half bath, along with a meat cutting room and several large coolers. In addition, the freezer lockers have been rented to the public, and the improvements could be reconfigured for alternative uses.
The building is located in Silt, Colorado, near the main round-about. As described, the site provides a straightforward setting for industrial and storage-oriented tenants who need functional interior space and existing temperature-controlled components.
For buyers or operators, this configuration can support continued cold-storage and locker-style operations, while also offering flexibility for a different industrial use if the current spaces are redesigned. A locker plant operator may have interest in a lease-back arrangement in the event of a sale, although the business is not for sale at this time. Overall, the property’s mix of office support space and temperature-controlled rooms can be a practical fit for users seeking an industrial building that already incorporates cold-storage functionality.
The building is located in Silt, Colorado, near the main round-about. As described, the site provides a straightforward setting for industrial and storage-oriented tenants who need functional interior space and existing temperature-controlled components.
For buyers or operators, this configuration can support continued cold-storage and locker-style operations, while also offering flexibility for a different industrial use if the current spaces are redesigned. A locker plant operator may have interest in a lease-back arrangement in the event of a sale, although the business is not for sale at this time. Overall, the property’s mix of office support space and temperature-controlled rooms can be a practical fit for users seeking an industrial building that already incorporates cold-storage functionality.
Key Highlights
- One‑level concrete block industrial building in Silt on 0.32 acres, close to the main round‑about
- Built in 1946; interior includes small office area and half bath
- Includes meat cutting room and several large coolers
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
$20,332
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
3.39%
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%
$406,640
$406.6K
Cap Rate 7%
$290,457
$290.5K
Cap Rate 9%
$225,911
$225.9K
Market Conditions
NOI Build-Up for 2,892 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
$26.0K $9.00/SF
− Vacancy
−$2.1K −$0.73/SF
EGI
$23.9K $8.27/SF
− OpEx
−$3.6K −$1.24/SF
NOI
$20.3K $7.03/SF
Area
Garfield County, CO
Vacancy
8.10%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
15.00%
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%
$406,640
Cap Rate 7%
$290,457
Cap Rate 9%
$225,911
Alternative Uses
Best Use
Warehouse
$290.5K
$254.2K – $338.9K
NOI $20,332 @ 7.0% cap · market cap 3.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$757.4K
$662.7K – $883.6K
NOI $53,017 @ 7.0% cap · market cap 8.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
241
Businesses Nearby
Explore this area
Business Placement
Demographics for 81652, CO
5,801
Population
2,223
Households
2.6
Avg Household Size
36
Median Age
26%
College-Educated
89%
High-School Grad
105.4 sq mi
ZIP Area
55
Density / Sq Mi
$97,760
Median Household Income
$47,561
Median Earnings
$2,030
Median Rent
$505,200
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?
Refrigerated & cold storage - One-level concrete block industrial building with office space and multiple coolers, suitable for cold-storage reconfiguration.
Where is this refrigerated & cold storage located?
The property is located at 140 8th Street Silt, CO.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: One‑level concrete block industrial building in Silt on 0.32 acres, close to the main round‑about; Built in 1946; interior includes small office area and half bath; Includes meat cutting room and several large coolers
