Restaurant with Event
New
For Sale
$4,000,000
2165 Pine Grove Road, Steamboat Springs, CO 80487
A 2024 interior renovation refreshed the dining room, bar, and open-kitchen layout.
Property Size7,289 SF
Price / SF$548.77
Days on Market4
Property Features for 2165 Pine Grove Road
General Information
Standard status
Active
Size
7,289 SF
Property subtype
CommercialSale
Zoning
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Restaurant
Seating Capacity
275
Commercial Hood
Yes
Taxes and HOA fees
Annual Taxes
$26,499
Amenities
Yes
No
Public
0.82
PublicRecords
ParkingLot
Paved
7289.0
Building Details
Building Size
7,289 SF
Year Built
1988
Year Renovated
2024
Listing Agency:
The Agency Steamboat Springs
(970) 401-6549
Listed By:
Jenna Luberto
Source:
Coloradocraftbrokers
Added: Oct 30
Changed: Oct 31
Last Checked: Oct 31 at 3:21AM
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 The Agency Steamboat Springs
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Investment Insights
Based on property information with market context.
This 7,289-square-foot restaurant includes an open kitchen with a 21-foot hood system, multiple prep and cooking stations, a raw bar, and guest seating at the bar. The layout also features a private dining room, additional dining areas, a dedicated bar, and wine storage. Event capacity reaches 275 attendees. Picture windows bring daylight into the dining room and frame views of the ski area, while a four-sided fireplace and curved wood-beamed ceilings complement the dining space. The interior was remodeled in 2024.
The property is near US Highway 40 and Steamboat Ski Resort. Strings Music Festival is across the street, with Wildhorse Cinemas, shopping, retail, condominium residences, and a 180-room Marriott-branded hotel nearby. Commercial zoning and a parking lot are also reported for the property.
The property is near US Highway 40 and Steamboat Ski Resort. Strings Music Festival is across the street, with Wildhorse Cinemas, shopping, retail, condominium residences, and a 180-room Marriott-branded hotel nearby. Commercial zoning and a parking lot are also reported for the property.
Key Highlights
- 7,289‑square‑foot restaurant with event capacity for up to 275 attendees
- Interior remodeled in 2024
- Open kitchen with a 21‑foot hood system, multiple cooking and prep stations, and a raw bar
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
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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 - A 2024 interior renovation refreshed the dining room, bar, and open-kitchen layout.
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 with event capacity for up to 275 attendees; Interior remodeled in 2024; Open kitchen with a 21‑foot hood system, multiple cooking and prep stations, and a raw bar
