Leased Retail Building with Redevelopment
1855 Shield Drive Steamboat Springs, CO 80487
1855 Shield Drive, Steamboat Springs, CO, 80487
$4,700,000
For Sale
$4,700,000
13,090 SF leased retail building on 1.76 acres.
Property Size13,090 SF
Lot Size1.76 Acres
Price / SF$359.05
Days on Market702
Property Features for 1855 Shield Drive
General Information
- Standard status
- Active
- Size
- 13,090 SF
- Lot size
- 1.76 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1996
Listing agency
THE AGENCY STEAMBOAT SPRINGS
(970) 457-6880
Listed by
CHRISTOPHER SIAS
Source
Corcoran
Added: Aug 19, 2024 Updated: Jul 10 at 3:46PM Checked: Jul 21 at 6:02AM
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 THE AGENCY STEAMBOAT SPRINGS
Investment Insights
Based on property information with market context.
The property at 1855 Shield Drive is a fully leased investment opportunity with significant redevelopment potential. The 13,090 square foot retail building is situated on 1.76 acres and is zoned industrial, which permits big box retail. Approximately 84% of the space is occupied by iFurnish under a NNN lease, with Interiors with Altitude occupying the remaining portion. The property features a covered loading area with a roll-up door at the rear. Surface parking is available for thirty-nine vehicles. The metal roof was replaced in late 2025.
The property is located on the west side of Steamboat in a growth area. The surrounding area includes the mixed-use Basecamp project, which features apartments, townhomes, and commercial space, as well as Curve Plaza with restaurants and retail, Ace Hardware, and various other commercial and residential developments. The annual average daily traffic count on the east side of the nearby intersection of US 40 and CO 129 is 24,000. The industrial zoning allows a variety of uses by right, and rezoning may be possible in conjunction with redevelopment.
The property is located on the west side of Steamboat in a growth area. The surrounding area includes the mixed-use Basecamp project, which features apartments, townhomes, and commercial space, as well as Curve Plaza with restaurants and retail, Ace Hardware, and various other commercial and residential developments. The annual average daily traffic count on the east side of the nearby intersection of US 40 and CO 129 is 24,000. The industrial zoning allows a variety of uses by right, and rezoning may be possible in conjunction with redevelopment.
Key Highlights
- 100% leased investment property providing immediate income.
- Significant redevelopment potential due to industrial zoning with big box retail allowed.
- Located in a growth area of Steamboat with high traffic counts (24,000 AADT).
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $353.4k | $27.00 |
| − Vacancy | −$35.3k | −$2.70 |
| EGI | $318.1k | $24.30 |
| − OpEx | −$95.4k | −$7.29 |
| NOI | $222.7k | $17.01 |
13,090 SF · lease $27.00/SF/yr · vacancy 10.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$3.18M
$2.78M – $3.71M
NOI $222,661 @ 7.0% cap · market cap 4.74%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$5.24M
$4.58M – $6.11M
NOI $366,480 @ 7.0% cap · market cap 7.80%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Interiors With Altitude
Interior Design
Search MOXIE
Home Decor Store
Steamboat Mattress
Home Decor Store
iFurnish
Furniture & Home Goods
Hawks Ridge Pottery
(Bike/Boat/Book/etc) Store
Similar For Sale Nearby
FAQs
What type of property is this?
Retail space - 13,090 SF leased retail building on 1.76 acres.
Where is this retail space located?
The property is located at 1855 Shield Drive Steamboat Springs, CO.
What is the asking price?
The asking price for this property is $4,700,000.
What are key features of this property?
This property features: 100% leased investment property providing immediate income.; Significant redevelopment potential due to industrial zoning with big box retail allowed.; Located in a growth area of Steamboat with high traffic counts (24,000 AADT).
