Income-Generating Acreage with Storage
For Sale
$1,600,000
2151 Elizabeth, Parker, CO 80138
35-acre property with home and 15,000 sq ft building.
Property Size2,592 SF
Lot Size35.00 Acres
Price / SF$617.28
Days on Market236
Property Features for 2151 Elizabeth
General Information
Standard status
Active
Size
2,592 SF
Lot size
35.00 Acres
Property subtype
Land or Vacant Lot
Taxes and HOA fees
Annual Taxes
$2,089
Amenities
Patio
Composition Roof
Cul-De-Sac
Forced Air Heating
Outbuildings
Sloping Lot
Building Details
Year Built
2016
Listing Agency:
HomesIQ
(303) 898-0598
Listed By:
DAVID MATHEWES · License #100013250
Source:
Corcoran
Added: Dec 29, 2025
Changed: Aug 21
Last Checked: Aug 21 at 9:08AM
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.
This 35-acre property features a 2,592 sq. ft. ranch-style home with 3 bedrooms and 2 bathrooms. The house is built with 2x6 construction and 5/8" drywall. Attached to the home is a 15,000 sq. ft. building with a zoning variance that allows for an indoor storage business. The current owner operates a storage business, and many renters wish to stay, presenting a turnkey income opportunity. The space can be expanded or reimagined. Part of the building is used as an RV and boat repair shop, with an upper-level storage area that could be expanded for more revenue. The property offers options to continue the storage business, add new services, live onsite and manage it, or rent out the house. Agricultural zoning keeps possibilities open. Additional features include a lofting shed, chicken coop, small orchard, a small shooting range, and a backup generator. The property is located in Parker, CO.
Key Highlights
- Turnkey income opportunity with existing storage business and potential for expansion.
- Rare zoning variance allowing an indoor storage business.
- Substantial 15,000 sq. ft. building attached to the home, suitable for various business ventures.
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
3.34%
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 3.34%
Second Best
Industrial
$528.4K
$462.4K – $616.5K
NOI $36,989 @ 7.0% cap · market cap 2.31%
Theoretical Best
Office A
$890.3K
$779.0K – $1.04M
NOI $62,321 @ 7.0% cap · market cap 3.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
60
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 - 35-acre property with home and 15,000 sq ft building.
Where is this self storage facility located?
The property is located at 2151 Elizabeth Parker, CO.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Turnkey income opportunity with existing storage business and potential for expansion.; Rare zoning variance allowing an indoor storage business.; Substantial 15,000 sq. ft. building attached to the home, suitable for various business ventures.
