Commercial Land with Versatile
For Sale
$2,995,000
190 Stan Miller Drive, Breckenridge, CO 80424
Commercial land suitable for retail, office, and light industrial uses.
Property Size12,100 SF
Lot Size1.46 Acres
Price / SF$247.52
Days on Market218
Property Features for 190 Stan Miller Drive
General Information
Standard status
Active
Size
12,100 SF
Lot size
1.46 Acres
Property subtype
Land or Vacant Lot
Taxes and HOA fees
Annual Taxes
$30,499
Amenities
Level
Near Public Transit
Listing Agency:
CHRISTIE'S INTERNATIONAL REAL ESTATE COLORADO- SUMMIT COLORADO
(970) 344-9002
Listed By:
MARTY FRANK · License #40047855
(970) 389-5068
Source:
Corcoran
Added: Jan 28
Changed: Sep 2
Last Checked: Sep 1 at 8:06PM
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 CHRISTIE'S INTERNATIONAL REAL ESTATE COLORADO- SUMMIT COLORADO
Investment Insights
Based on property information with market context.
This commercial land offers an opportunity for various permitted uses, including retail businesses, service-oriented operations, integrated employee housing, office space, dining establishments, bars, and select light industrial applications. The property provides 12.1 SFE’s, which is equivalent to 12,100 square feet of buildable space. A parking easement is included, accommodating 30 vehicles. The location is near essential Breckenridge infrastructure and offers convenient accessibility just off the highway.
Key Highlights
- Opportunity to acquire commercial land.
- 12,100 square feet of buildable space (12.1 SFE's).
- Conveniently located just off the highway for easy accessibility.
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
$203,643
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
6.80%
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%
$4,072,860
$4.1M
Cap Rate 7%
$2,909,186
$2.9M
Cap Rate 9%
$2,262,700
$2.3M
Market Conditions
NOI Build-Up for 12,100 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
$319.4K $26.40/SF
− Vacancy
−$47.9K −$3.96/SF
EGI
$271.5K $22.44/SF
− OpEx
−$67.9K −$5.61/SF
NOI
$203.6K $16.83/SF
Area
Summit County, CO
Vacancy
15.00%
Lease Rate
$26.40 /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%
$4,072,860
Cap Rate 7%
$2,909,186
Cap Rate 9%
$2,262,700
Alternative Uses
Best Use
Industrial
$198.34M
$173.54M – $231.39M
NOI $13,883,477 @ 7.0% cap · market cap 463.56%
Second Best
Office B
$2.91M
$2.55M – $3.39M
NOI $203,643 @ 7.0% cap · market cap 6.80%
Theoretical Best
Warehouse
$240.84M
$210.73M – $280.98M
NOI $16,858,508 @ 7.0% cap · market cap 562.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
68
Businesses Nearby
Explore this area
Business Placement
Demographics for 80424, CO
10,474
Population
11,886
Households
0.9
Avg Household Size
38
Median Age
55%
College-Educated
94%
High-School Grad
125.9 sq mi
ZIP Area
83
Density / Sq Mi
$109,497
Median Household Income
$49,958
Median Earnings
$2,029
Median Rent
$970,000
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Commercial land - Commercial land suitable for retail, office, and light industrial uses.
Where is this commercial land located?
The property is located at 190 Stan Miller Drive Breckenridge, CO.
What is the asking price?
The asking price for this property is $2,995,000.
What are key features of this property?
This property features: Opportunity to acquire commercial land.; 12,100 square feet of buildable space (12.1 SFE's).; Conveniently located just off the highway for easy accessibility.
