Renovated Strasburg Live-Work
For Sale
$435,000
1489 Arapahoe Street, Strasburg, CO 80136
Versatile, renovated live-work property in Strasburg's B4 Business zone.
Property Size1,895 SF
Lot Size0.20 Acres
Price / SF$229.55
Days on Market141
Property Features for 1489 Arapahoe Street
General Information
Standard status
Active
Size
1,895 SF
Lot size
0.20 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$2,277
Amenities
Composition Roof
Sprinklers In Rear
Building Details
Year Built
1916
Listing Agency:
RE/MAX FULL HOUSE INC.
(303) 622-6879
Listed By:
CONNIE LYBARGER · License #040013319
Source:
Corcoran
Added: Mar 21
Changed: Aug 8
Last Checked: Aug 8 at 6:27AM
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 RE/MAX FULL HOUSE INC.
Investment Insights
Based on property information with market context.
This property, located in Strasburg and zoned B4 Business, presents a versatile opportunity for entrepreneurs or those seeking a live-work setup. The property was fully renovated three years ago, with updates to the electrical, plumbing, drywall, paint, doors, trim, and flooring. A newer furnace and central A/C system provide climate control, complemented by modern lighting throughout. Additional upgrades include a new roof, a sprinkler system, and an en-suite bathroom. The room adjacent to the garage features a half bath, suitable for a home office, client space, or studio. The property includes a spacious backyard with a storage shed and a long driveway providing parking for multiple vehicles. The property size is 1895 square feet. This move-in-ready home offers flexibility for various business or residential needs.
Key Highlights
- Zoned B4 Business: Ideal for entrepreneurs seeking a live/work setup.
- Fully Renovated (3 years ago): Featuring updated electrical, plumbing, drywall, paint, doors, trim, and flooring.
- Newer Furnace and Central A/C: Provides year‑round comfort.
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
$34,281
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
7.88%
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%
$685,620
$685.6K
Cap Rate 7%
$489,729
$489.7K
Cap Rate 9%
$380,900
$380.9K
Market Conditions
NOI Build-Up for 1,895 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
$56.9K $30.00/SF
− Vacancy
−$11.1K −$5.88/SF
EGI
$45.7K $24.12/SF
− OpEx
−$11.4K −$6.03/SF
NOI
$34.3K $18.09/SF
Area
Adams County, CO
Vacancy
19.60%
Lease Rate
$30.00 /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%
$685,620
Cap Rate 7%
$489,729
Cap Rate 9%
$380,900
Alternative Uses
Best Use
Office B
$489.7K
$428.5K – $571.4K
NOI $34,281 @ 7.0% cap · market cap 7.88%
Second Best
Mixed Use
$246.7K
$215.9K – $287.8K
NOI $17,269 @ 7.0% cap · market cap 3.97%
Theoretical Best
Multifamily LT 5
$27.88M
$24.40M – $32.53M
NOI $1,951,686 @ 7.0% cap · market cap 448.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
247
Businesses Nearby
Explore this area
Business Placement
Demographics for 80136, CO
6,028
Population
2,012
Households
3
Avg Household Size
39
Median Age
23%
College-Educated
96%
High-School Grad
211.8 sq mi
ZIP Area
28
Density / Sq Mi
$110,435
Median Household Income
$49,857
Median Earnings
$1,234
Median Rent
$495,700
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Live-work space - Versatile, renovated live-work property in Strasburg's B4 Business zone.
Where is this live-work space located?
The property is located at 1489 Arapahoe Street Strasburg, CO.
What is the asking price?
The asking price for this property is $435,000.
What are key features of this property?
This property features: Zoned B4 Business: Ideal for entrepreneurs seeking a live/work setup.; Fully Renovated (3 years ago): Featuring updated electrical, plumbing, drywall, paint, doors, trim, and flooring.; Newer Furnace and Central A/C: Provides year‑round comfort.
