Listing Agency: Keller Williams DTC s***@creekcos.com Show Phone

Listed By: Sandy Colohan · License #01025105 Show Phone

Source: Exprealty

Added: Jul 6, 2025 Changed: Aug 25 Last Checked: Aug 25 at 11:08AM

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Investment Insights

Based on property information with market context.

This property features over 22 acres with river frontage. It includes nine rooms upstairs, twelve RV spaces along the river, and a bar/restaurant with a full liquor license and outdoor seating. Additionally, there is a one-bedroom apartment on the main floor, along with a storefront and office/storage space awaiting a tenant. A duplex is located in the back of the property. The US Post Office has a land lease that expires in 2031, with three five-year extensions. The property is located 20 minutes from Estes Park and 20 minutes from Loveland, and 7 minutes from Glen Haven. The property size is 8795 square feet and is suitable for mixed-use, hospitality, bars & pubs, restaurants, duplexes, multifamily, and residential income purposes.

Key Highlights

• 22+ acres with river frontage
• Bar/Restaurant with full liquor license and outdoor seating
• 12 RV spaces on the River

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

$69,635

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

5.36%

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%

$1,392,700 $1.4M

Cap Rate 7%

$994,786 $994.8K

Cap Rate 9%

$773,722 $773.7K

Market Conditions

NOI Build-Up for 8,795 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

$121.9K $13.86/SF

− Vacancy

−$10.5K −$1.19/SF

EGI

$111.4K $12.67/SF

− OpEx

−$41.8K −$4.75/SF

NOI

$69.6K $7.92/SF

Area

Larimer County, CO

Vacancy

8.60%

Lease Rate

$13.86 /SF/Yr

Expense Ratio

37.50%

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%

$1,392,700

Cap Rate 7%

$994,786

Cap Rate 9%

$773,722

Alternative Uses

Best Use

Mixed Use

$994.8K

$870.4K – $1.16M (±1% cap)

NOI $69,635 @ 7.0% cap · market cap 5.36%

Second Best

Hotel Hospitality

$828.1K

$724.6K – $966.1K (±1% cap)

NOI $57,965 @ 7.0% cap · market cap 4.46%

Theoretical Best

Office A

$2.36M

$2.07M – $2.75M (±1% cap)

NOI $165,250 @ 7.0% cap · market cap 12.71%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Mixed-use properties

Suggested Use

Top Pick Restaurant Real Estate Agency Bed & Breakfast

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

10

Businesses Nearby

Explore this area Business Placement

Demographics for 80515, CO

845

Population

607

Households

1.4

Avg Household Size

52

Median Age

44%

College-Educated

100%

High-School Grad

48.8 sq mi

ZIP Area

17

Density / Sq Mi

$79,896

Median Household Income

$49,764

Median Earnings

$539,800

Median Home Value

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Frequently Asked Questions

What type of property is this?

Mixed-use property - 22+ acres with river frontage, bar/restaurant, RV spaces.

Where is this mixed-use property located?

The property is located at 1601 Us Highway 34 Drake, CO.

What is the asking price?

The asking price for this property is $1,300,000.

What are key features of this property?

This property features: 22+ acres with river frontage; Bar/Restaurant with full liquor license and outdoor seating; 12 RV spaces on the River