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    Leased Retail Building with Redevelopment Potential Title is generated by Realmo AI

    1855 Shield Drive, Steamboat Springs, CO 80487

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    For Sale
    $4,700,000

    13,090 SF leased retail building on 1.76 acres.

    Type:Commercial
    Property size:
    13,090 SF
    Lot size:
    1.76 Acres
    Price / SF:
    $359/SF
    Added:
    Aug 19, 2024
    Days on Market:
    655
    Last Refresh:
    Apr 5 at 8:20 pm

    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

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    Listing Contact
    CHRISTOPHER SIAS

    Listing agent CHRISTOPHER SIAS

    Listing office THE AGENCY STEAMBOAT SPRINGS

    Listing date Aug 19, 2024

    Source Corcoran

    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

    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).
    • NNN lease in place with iFurnish occupying 84% of the space.
    • Metal roof replaced in late 2025.
    • Located near Basecamp project, Curve Plaza, and Ace Hardware.

    Overview

    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.
    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

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Hair Salon Big Box & Wholesale Store Building Supply Nail Salon Pharmacy Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Steamboat Springs
    County
    Routt
    State
    Colorado
    Longitude
    -106.857
    Latitude
    40.5005

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    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).
    (970) 457-6880
    We can help!
    Listing Contact
    CHRISTOPHER SIAS
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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