Restaurant Space on Aspen
For Sale
$779,000
206 E Aspen, Fruita, CO 81521
Restaurant space with indoor/outdoor seating in high-traffic area.
Property Size2,400 SF
Lot Size0.07 Acres
Price / SF$324.58
Days on Market183
Property Features for 206 E Aspen
General Information
Standard status
Active
Size
2,400 SF
Lot size
0.07 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$8,736
Amenities
Central air
2 or more Heat Sources Heating
Central Air Cooling
Common Heating
Ductless Heating
Flat Roof
Forced Air Heating
Multi Units Cooling
Rubber Roof
Tar/Gravel Roof
Building Details
Year Built
1925
Listing Agency:
HomeSmart
(303) 858-8100
Listed By:
BRIAN CHRINKA
Source:
Corcoran
Added: Feb 7
Changed: Aug 8
Last Checked: Aug 8 at 1:36PM
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 HomeSmart
Investment Insights
Based on property information with market context.
Located on Aspen Avenue in Fruita, this property offers high visibility, foot traffic, and accessibility. The 2,400 square foot restaurant space includes indoor and outdoor seating, a full-sized commercial kitchen, a walk-in refrigerator and freezer, a coffee bar, a chef's kitchen, and a reception area. It also features two restrooms and a separate storage shed. This property may be suitable for an owner-user seeking long-term stability.
Key Highlights
- Prime location on Fruita's Aspen Ave. with high visibility and foot traffic.
- 2400 sq ft restaurant space with indoor/outdoor seating.
- Full‑sized commercial kitchen and walk‑in refrigerator/freezer.
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
$35,269
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
4.53%
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%
$705,380
$705.4K
Cap Rate 7%
$503,843
$503.8K
Cap Rate 9%
$391,878
$391.9K
Market Conditions
NOI Build-Up for 2,400 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
$51.0K $21.24/SF
− Vacancy
−$4.0K −$1.65/SF
EGI
$47.0K $19.59/SF
− OpEx
−$11.8K −$4.90/SF
NOI
$35.3K $14.70/SF
Area
Mesa County, CO
Vacancy
7.75%
Lease Rate
$21.24 /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%
$705,380
Cap Rate 7%
$503,843
Cap Rate 9%
$391,878
Alternative Uses
Best Use
Specialty Retail
$503.8K
$440.9K – $587.8K
NOI $35,269 @ 7.0% cap · market cap 4.53%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$4.55M
$3.99M – $5.31M
NOI $318,816 @ 7.0% cap · market cap 40.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
831
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 81521, CO
16,446
Population
6,531
Households
2.5
Avg Household Size
40
Median Age
32%
College-Educated
94%
High-School Grad
181.6 sq mi
ZIP Area
91
Density / Sq Mi
$82,632
Median Household Income
$41,801
Median Earnings
$1,249
Median Rent
$385,300
Median Home Value
Market
Vacancy Rate% for Retail 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?
Conventional restaurant - Restaurant space with indoor/outdoor seating in high-traffic area.
Where is this conventional restaurant located?
The property is located at 206 E Aspen Fruita, CO.
What is the asking price?
The asking price for this property is $779,000.
What are key features of this property?
This property features: Prime location on Fruita's Aspen Ave. with high visibility and foot traffic.; 2400 sq ft restaurant space with indoor/outdoor seating.; Full‑sized commercial kitchen and walk‑in refrigerator/freezer.
