Flex Space with
New
For Sale
$1,850,000
208209-365 Warren Ave, Silverthorne, CO
Commercially zoned property combining warehouse capacity, office space, and two oversized garage doors.
Property Size4,635 SF
Price / SF$399.14
Days on Market5
Property Features for 208209-365 Warren Ave
General Information
Standard status
Active
Size
4,635 SF
Warehouse & Industrial
Warehouse Space
3,372 SF
Office Build-Out
1,263 SF
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$12,581
Building Details
Building Size
4,635 SF
Listing Agency:
Omni Real Estate
(970) 485-0183
Listed By:
Anne Marie Ohly · License #ER326911
(970) 485-0183
Source:
Exprealty
Added: Aug 26
Changed: Aug 30
Last Checked: Aug 30 at 12:19AM
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 Omni Real Estate
Investment Insights
Based on property information with market context.
This Silverthorne flex property contains approximately 4,635 SF arranged for warehouse, office, and adaptable work functions. Approximately 3,372 SF is dedicated to warehouse use, while approximately 1,263 SF provides office and flex space for administrative, showroom, customer-facing, or supplementary workspace. Two oversized commercial garage doors support vehicle, equipment, inventory, and material access, and the property includes a half bathroom.
Located at 208209-365 Warren Ave, the property offers access to I-70 and the communities of Silverthorne, Dillon, Frisco, and Breckenridge. Commercial zoning provides flexibility for a range of business uses. The configuration can accommodate an owner-user headquarters or other operations requiring a combination of enclosed warehouse and office areas.
Located at 208209-365 Warren Ave, the property offers access to I-70 and the communities of Silverthorne, Dillon, Frisco, and Breckenridge. Commercial zoning provides flexibility for a range of business uses. The configuration can accommodate an owner-user headquarters or other operations requiring a combination of enclosed warehouse and office areas.
Key Highlights
- Approximately 4,635 SF of total commercial space
- Approximately 3,372 SF of warehouse area
- Approximately 1,263 SF of office/flex space
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
$78,007
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
4.22%
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%
$1,560,140
$1.6M
Cap Rate 7%
$1,114,386
$1.1M
Cap Rate 9%
$866,744
$866.7K
Market Conditions
NOI Build-Up for 4,635 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
$122.4K $26.40/SF
− Vacancy
−$18.4K −$3.96/SF
EGI
$104.0K $22.44/SF
− OpEx
−$26.0K −$5.61/SF
NOI
$78.0K $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%
$1,560,140
Cap Rate 7%
$1,114,386
Cap Rate 9%
$866,744
Alternative Uses
Best Use
Warehouse
$92.25M
$80.72M – $107.63M
NOI $6,457,784 @ 7.0% cap · market cap 349.07%
Second Best
Industrial
$75.97M
$66.48M – $88.64M
NOI $5,318,175 @ 7.0% cap · market cap 287.47%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
668
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- All Events & Catering — Silverthorne, CO 80497
Frequently Asked Questions
What type of property is this?
Flex space - Commercially zoned property combining warehouse capacity, office space, and two oversized garage doors.
Where is this flex space located?
The property is located at 208209-365 Warren Ave Silverthorne, CO.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: Approximately 4,635 SF of total commercial space; Approximately 3,372 SF of warehouse area; Approximately 1,263 SF of office/flex space
