Building Details

Year Built 1901

Year Renovated 2013

Buildings 2

Stories 2

Units 2

Listing Agency: Keller Williams Realty DTC Llc

Listed By: Sandy Colohan · License #025105

Source: Crexi

Added: May 22, 2025 Changed: Aug 8 Last Checked: Jul 24 at 2:33PM

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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 Keller Williams Realty DTC Llc

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

$94,729

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

6.11%

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%

$1,894,580 $1.9M

Cap Rate 7%

$1,353,271 $1.4M

Cap Rate 9%

$1,052,544 $1.1M

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

$130.1K $14.79/SF

− Vacancy

−$3.8K −$0.43/SF

EGI

$126.3K $14.36/SF

− OpEx

−$31.6K −$3.59/SF

NOI

$94.7K $10.77/SF

Area

Larimer County, CO

Vacancy

2.90%

Lease Rate

$14.79 /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%

$1,894,580

Cap Rate 7%

$1,353,271

Cap Rate 9%

$1,052,544

Alternative Uses

Best Use

Specialty Retail

$1.35M

$1.18M – $1.58M (±1% cap)

NOI $94,729 @ 7.0% cap · market cap 6.11%

Second Best

Mixed Use

$994.8K

$870.4K – $1.16M (±1% cap)

NOI $69,635 @ 7.0% cap · market cap 4.49%

Theoretical Best

Office A

$2.36M

$2.07M – $2.75M (±1% cap)

NOI $165,250 @ 7.0% cap · market cap 10.66%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Bars & Pubs

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

12

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

Market

Vacancy Rate% for Retail in West region

7% 2020

6.3% 2021

5.5% 2022

5.3% 2023

5.5% 2024

5.8% 2025

Questions? Ask Rey

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What type of property is this? Where is this mixed-use properties located? What is the asking price? Find similar properties ... What are key features of this property?

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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 W Highway 34 Drake, CO.

What is the asking price?

The asking price for this property is $1,550,000.

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