Self Storage Facility with
For Sale
$1,500,000
2151 Elizabeth Dr, Parker, CO 80138
The property includes an onsite ranch home and agricultural zoning.
Property Size2,592 SF
Days on Market55
Property Features for 2151 Elizabeth Dr
General Information
Standard status
Active
Size
2,592 SF
Property subtype
Farm
Taxes and HOA fees
Annual Taxes
$2,698
Building Details
Building Size
2,592 SF
Year Built
2016
Listing Agency:
HomesIQ
(303) 578-7900
Listed By:
David Mathewes · License #100013250
(303) 578-7900
Source:
Corken
Added: Jul 8
Changed: Aug 30
Last Checked: Aug 30 at 11:23PM
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 HomesIQ
Investment Insights
Based on property information with market context.
Set on 35 acres at 2151 Elizabeth Dr, this self storage property combines a ranch-style residence with substantial commercial improvements. The home offers 3 bedrooms, 2 bathrooms, 2,592 square feet, 2x6 construction, and 5/8-inch drywall. Built in 2016, the residence is attached to a 15,000-square-foot building designed for indoor storage use under a zoning variance.
The building also accommodates an RV and boat repair shop and includes an upper-level storage area. Additional improvements include a lofting shed, chicken coop, small orchard, small shooting range, and backup generator. Agricultural zoning applies to the property, providing the stated land-use framework alongside the indoor storage variance.
The building also accommodates an RV and boat repair shop and includes an upper-level storage area. Additional improvements include a lofting shed, chicken coop, small orchard, small shooting range, and backup generator. Agricultural zoning applies to the property, providing the stated land-use framework alongside the indoor storage variance.
Key Highlights
- 35‑acre property with self storage facility and onsite residence
- 15,000‑square‑foot attached building with indoor storage use allowed by zoning variance
- Ranch‑style home includes 3 bedrooms, 2 bathrooms, and 2,592 square feet
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
$53,393
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
3.56%
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%
$1,067,860
$1.1M
Cap Rate 7%
$762,757
$762.8K
Cap Rate 9%
$593,256
$593.3K
Market Conditions
NOI Build-Up for 2,592 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
$78.1K $30.12/SF
− Vacancy
−$1.8K −$0.69/SF
EGI
$76.3K $29.43/SF
− OpEx
−$22.9K −$8.83/SF
NOI
$53.4K $20.60/SF
Area
Douglas County, CO
Vacancy
2.30%
Lease Rate
$30.12 /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%
$1,067,860
Cap Rate 7%
$762,757
Cap Rate 9%
$593,256
Alternative Uses
Best Use
Retail
$762.8K
$667.4K – $889.9K
NOI $53,393 @ 7.0% cap · market cap 3.56%
Second Best
Industrial
$528.4K
$462.4K – $616.5K
NOI $36,989 @ 7.0% cap · market cap 2.47%
Theoretical Best
Office A
$890.3K
$779.0K – $1.04M
NOI $62,321 @ 7.0% cap · market cap 4.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
16
Businesses Nearby
Explore this area
Business Placement
Demographics for 80138, CO
34,337
Population
12,752
Households
2.7
Avg Household Size
41
Median Age
49%
College-Educated
95%
High-School Grad
61.9 sq mi
ZIP Area
555
Density / Sq Mi
$142,397
Median Household Income
$60,990
Median Earnings
$1,919
Median Rent
$679,800
Median Home Value
Market
Vacancy Rate% for Industrial 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?
Self storage facility - The property includes an onsite ranch home and agricultural zoning.
Where is this self storage facility located?
The property is located at 2151 Elizabeth Dr Parker, CO.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 35‑acre property with self storage facility and onsite residence; 15,000‑square‑foot attached building with indoor storage use allowed by zoning variance; Ranch‑style home includes 3 bedrooms, 2 bathrooms, and 2,592 square feet
