Restaurant and Event
2165 Pine Grove Road, Steamboat Springs, CO 80487
For Sale
$4,000,000
Commercial, Steamboat Springs, CO
Property Size7,289 SF
Lot Size0.82 Acres
Price / SF$548.77
Days on Market122
Property Features for 2165 Pine Grove Road
General Information
Property type
Property subtype
Subdivision
Standard status
APN
Lot size
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Heating system
Building Details
Year built
Roof type
Listing Agency:
The Agency Steamboat Springs
(970) 457-6880
Listed By:
Chris Paoli · License CO SS55043735
(970) 819-1432
Added: Jul 15
Changed: Oct 16
Last Checked: Nov 13 at 8:06PM
MLS# S1070134
Copyright © 2026 Altitude REALTORS ®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 7,289-square-foot restaurant and event venue was comprehensively remodeled in 2024. The interior includes a dining room with picture windows, a four-sided fireplace, curved wood-beamed ceilings, an open kitchen, private dining room, additional seating areas, dedicated bar, and wine storage. The kitchen is equipped with a 21-foot hood system, multiple preparation and cooking stations, raw bar, and guest bar seating. The layout accommodates events for up to 275 attendees.
The 0.82-acre property is positioned between Steamboat Ski Resort and US Highway 40, with access from the surrounding Steamboat mountain area. It is across from the Strings Music Festival and near the Meadows parking lot, Wildhorse Cinemas, shopping, retail, condominium residences, and a Marriott-branded 180-room hotel. The building dates to 1988 and includes forced-air heating, a composition roof, and ample parking.
The 0.82-acre property is positioned between Steamboat Ski Resort and US Highway 40, with access from the surrounding Steamboat mountain area. It is across from the Strings Music Festival and near the Meadows parking lot, Wildhorse Cinemas, shopping, retail, condominium residences, and a Marriott-branded 180-room hotel. The building dates to 1988 and includes forced-air heating, a composition roof, and ample parking.
Key Highlights
- 7,289‑square‑foot restaurant and event venue on 0.82 acres
- Comprehensive interior remodel completed in 2024
- Event layout accommodates up to 275 attendees
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$138,746
Cap Rate
3.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,774,920
$2.8M
Cap Rate 7%
$1,982,086
$2.0M
Cap Rate 9%
$1,541,622
$1.5M
Market Conditions
NOI Build-Up for 7,289 SF
Gross rent
$196.8K $27.00/SF
− Vacancy
−$11.8K −$1.62/SF
EGI
$185.0K $25.38/SF
− OpEx
−$46.2K −$6.35/SF
NOI
$138.7K $19.04/SF
Area
Routt County, CO
Vacancy
6.00%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,774,920
Cap Rate 7%
$1,982,086
Cap Rate 9%
$1,541,622
Alternative Uses
Best Use
Specialty Retail
$1.98M
$1.73M – $2.31M
NOI $138,746 @ 7.0% cap · market cap 3.47%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$2.92M
$2.55M – $3.40M
NOI $204,070 @ 7.0% cap · market cap 5.10%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Yes
Commercial hood
Location Intelligence
Trade Area within ½ mile
1,037
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 80487, CO
18,209
Population
13,231
Households
1.4
Avg Household Size
42
Median Age
57%
College-Educated
97%
High-School Grad
795.8 sq mi
ZIP Area
23
Density / Sq Mi
$106,837
Median Household Income
$50,551
Median Earnings
$1,927
Median Rent
$915,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Remodeled restaurant with private dining, bar service, event capacity, and ski area views near US Highway 40.
Where is this conventional restaurant located?
The property is located at 2165 Pine Grove Road Steamboat Springs, CO.
What is the asking price?
The asking price for this property is $4,000,000.
What are key features of this property?
This property features: 7,289‑square‑foot restaurant and event venue on 0.82 acres; Comprehensive interior remodel completed in 2024; Event layout accommodates up to 275 attendees
