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    Riverfront Mixed-Use Commercial Building Title is generated by Realmo AI

    189 Basalt Center Cir, Basalt, CO 81621

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    For Sale
    $1,670,000

    Turn-key, fully remodeled building with walk-out water access and flexible suite options for office or retail use.

    Type:Commercial
    Added:
    Jun 3, 2026
    Days on Market:
    5
    Last Refresh:
    Jun 6 at 5:15 am

    Property Features for 189 Basalt Center Cir

    General Information

    Standard status
    Active
    Property subtype
    Commercial

    Building Details

    Year Built
    1978

    We can help!

    Listing Contact
    Gabe Molnar
    Gabe Molnar

    Listing agent Gabe Molnar License #FA.100095642

    Listing office Douglas Elliman Real Estate

    Listing date Jun 3, 2026

    Source Elliman

    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 Douglas Elliman Real Estate

    HighLights

    • Riverfront commercial building in downtown Basalt with walk‑out water access
    • Completely remodeled inside and out, including updated exterior and redone grounds
    • Split into three suites for multiple income streams or to occupy the whole building
    • Zoning supports retail, office, and a broad range of commercial uses
    • Year built: 1978
    • BikeScore 52 and WalkScore 67 (somewhat walkable)

    Overview

    This fully reimagined riverfront commercial building has been completely remodeled inside and out, with refined finishes and updated exterior and grounds. The light-filled interior is designed for flexible use, and the layout can support a single-tenant occupancy or multiple operations. For added flexibility, the building is split into three suites, allowing for separate tenancies and varied income streams. A walk-out back patio provides direct access to the water setting.

    The property is located at the heart of downtown Basalt, addressed at 189 Basalt Center Cir. It offers a distinctive riverfront experience with walk-out water access from the rear patio, creating a setting that can support client-facing workspaces such as showrooms, design studios, boutique offices, or gallery-style environments. The surrounding area includes the redeveloped Midland Avenue corridor and the Midland Residences, which features ground-level commercial amenities.

    Zoning supports retail, office, and a broad range of commercial uses, giving tenants and buyers flexibility in how they configure the space. With three suites available, the building can also be approached as an owner-operator opportunity or as a multi-tenant offering, depending on the end use. The result is a turn-key property designed to begin operations without additional work.
    Location Intelligence

    Current Use by Public Records

    Office buildings

    Map

    City
    Basalt
    County
    Eagle
    State
    Colorado
    Longitude
    -106.802
    Latitude
    39.3489

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    FAQs

    What type of property is this?
    Office building - Turn-key, fully remodeled building with walk-out water access and flexible suite options for office or retail use.
    Where is this office building located?
    The property is located at 189 Basalt Center Cir Basalt, CO.
    What is the asking price?
    The asking price for this property is $1,670,000.
    What are key features of this property?
    This property features: Riverfront commercial building in downtown Basalt with walk‑out water access; Completely remodeled inside and out, including updated exterior and redone grounds; Split into three suites for multiple income streams or to occupy the whole building
    (970) 366-0379
    We can help!
    Listing Contact
    Gabe Molnar
    Gabe Molnar
    Real Estate License ID: FA.100095642
    Learn More
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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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