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    Steamboat Springs Retail Redevelopment Potential Title is generated by Realmo AI

    1855 Shield Drive, Steamboat Springs, CO 80487

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    For Lease
    $4,700,000 SF/Yr $5,126,916,666/Mo (calc)

    COMMERCIAL - Steamboat Springs, CO

    Property size:
    13,090 SF
    Lot size:
    1.76 Acres
    Added:
    Aug 19, 2024
    Days on Market:
    647
    Last Refresh:
    May 27 at 10:06 am

    Property Features for 1855 Shield Drive

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Standard status
    Active
    APN
    R6818049
    Size
    13,090 SF
    Lot size
    1.76 Acres

    Taxes and HOA fees

    Tax Year
    2023
    Tax Annual Amount
    18223

    Utilities

    Heating system
    Central, Oil

    Building Details

    Year built
    1996
    Roof type
    Metal

    We can help!

    Listing Contact
    Christopher Sias

    Listing agent Christopher Sias

    Listing office The Agency Steamboat Springs 345 Anglers Drive, Unit A, Steamboat Springs, CO

    Listing date Aug 19, 2024

    MLS# S1053054 Listing URL

    Copyright © 2026 Altitude REALTORS ®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 1.76 acre property with SIGNIFICANT REDEVELOPMENT POTENTIAL due to industrial zoning.
    • 100% leased investment property providing immediate income.
    • Located in a growth area near Basecamp, Curve Plaza, and Ace Hardware.
    • High traffic counts (24,000 AADT) at the nearby intersection.
    • NNN lease in place with iFurnish occupying approximately 84% of the space.
    • Metal roof replaced in late 2025.

    Overview

    The property at 1855 Shield Drive in Steamboat Springs, CO, is a 13,090 square foot retail building situated on 1.76 acres. It is a 100% leased investment property with significant redevelopment potential. Zoned industrial, the property allows big box retail. Approximately 84% of the space is occupied by iFurnish under a NNN lease, while Interiors with Altitude occupies 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 cars. The metal roof was replaced in late 2025. The property is located on the west side of Steamboat in a growth area, near the mixed-use Basecamp project, Curve Plaza, and Ace Hardware, along with other businesses and residential developments. Traffic counts on the east side of the nearby intersection of US 40 and CO 129 are 24,000 AADT. 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
    -106.857548
    Latitude
    40.50042

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    FAQs

    What type of property is this?
    Specialty property - Leased investment property with redevelopment potential in Steamboat Springs, CO.
    Where is this specialty property located?
    The property is located at 1855 Shield Drive Steamboat Springs, CO.
    What is the lease rate?
    The lease rate is $4,700,000.
    What are key features of this property?
    This property features: 1.76 acre property with SIGNIFICANT REDEVELOPMENT POTENTIAL due to industrial zoning.; 100% leased investment property providing immediate income.; Located in a growth area near Basecamp, Curve Plaza, and Ace Hardware.
    (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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    1855 Shield Drive, Steamboat Springs, CO 80487
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