Workshop Garage on Treed
For Sale
$250,000
209 Stonehenge, Florissant, CO 80816
Custom-built 1536 sq ft workshop on 2.86 acres.
Property Size1,536 SF
Lot Size2.86 Acres
Price / SF$162.76
Days on Market239
Property Features for 209 Stonehenge
General Information
Standard status
Active
Size
1,536 SF
Lot size
2.86 Acres
Property subtype
Land or Vacant Lot
Taxes and HOA fees
Annual Taxes
$2,005
Amenities
Deciduous Trees
Outbuildings
Wooded
Listing Agency:
Flood Realty
(719) 687-8789
Listed By:
KATHLEEN FLOOD · License #40006985
Source:
Corcoran
Added: Dec 29, 2025
Changed: Aug 19
Last Checked: Aug 25 at 8:49AM
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 Flood Realty
Investment Insights
Based on property information with market context.
This property features a custom-built workshop garage situated on 2.86 treed acres. Constructed in 2014, the 32' x 48', 1536 sq. ft. shop includes well-insulated walls (R11) and ceiling (R30), a drywalled and painted interior, and an insulated foundation with 2" Styrofoam. It is equipped with a commercial-grade Reznor thermostatically controlled natural gas heat and a 10' high vaulted ceiling. The building has 200 Amp feed-through electrical service, abundant overhead lighting, workbenches, and numerous electrical receptacles, including three 50 Amp outlets. There are two entry doors and an overhead door with an opener, along with a large concrete apron, exterior lighting, and outlets. A 50 Amp RV pedestal is also present. The horseshoe driveway is designed to accommodate oversized vehicles. Potential uses include a basecamp for building a new home, storage and workspace for vehicles, or other applications. Adjacent parcels are also available for sale.
Key Highlights
- Custom‑built 1536 sq. ft. workshop garage (32' x 48') on 2.86 treed acres.
- Well‑insulated (R11 walls, R30 ceiling) and finished shop with commercial‑grade natural gas heat.
- 200 Amp electrical service with abundant outlets, including three 50 Amp outlets and a 50 Amp RV pedestal.**
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
$21,741
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
8.70%
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%
$434,820
$434.8K
Cap Rate 7%
$310,586
$310.6K
Cap Rate 9%
$241,567
$241.6K
Market Conditions
NOI Build-Up for 1,536 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
$32.6K $21.24/SF
− Vacancy
−$1.6K −$1.02/SF
EGI
$31.1K $20.22/SF
− OpEx
−$9.3K −$6.07/SF
NOI
$21.7K $14.15/SF
Area
Teller County, CO
Vacancy
4.80%
Lease Rate
$21.24 /SF/Yr
Expense Ratio
30.00%
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%
$434,820
Cap Rate 7%
$310,586
Cap Rate 9%
$241,567
Alternative Uses
Best Use
Retail
$310.6K
$271.8K – $362.4K
NOI $21,741 @ 7.0% cap · market cap 8.70%
Second Best
Industrial
$162.1K
$141.9K – $189.1K
NOI $11,348 @ 7.0% cap · market cap 4.54%
Theoretical Best
Office A
$392.6K
$343.5K – $458.0K
NOI $27,481 @ 7.0% cap · market cap 10.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
12
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 80816, CO
5,794
Population
4,181
Households
1.4
Avg Household Size
54
Median Age
32%
College-Educated
94%
High-School Grad
182.5 sq mi
ZIP Area
32
Density / Sq Mi
$71,358
Median Household Income
$47,018
Median Earnings
$1,816
Median Rent
$382,300
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?
Auto shop - Custom-built 1536 sq ft workshop on 2.86 acres.
Where is this auto shop located?
The property is located at 209 Stonehenge Florissant, CO.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Custom‑built 1536 sq. ft. workshop garage (32' x 48') on 2.86 treed acres.; Well‑insulated (R11 walls, R30 ceiling) and finished shop with commercial‑grade natural gas heat.; 200 Amp electrical service with abundant outlets, including three 50 Amp outlets and a 50 Amp RV pedestal.**
