Silverthorne Warehouse Condo For
For Sale
$385,000
Pending
220 Buffalo Mountain Drive #207 A, Silverthorne, CO 80498
Versatile warehouse condo near I-70, ideal for various uses.
Property Size1,300 SF
Days on Market219
Property Features for 220 Buffalo Mountain Drive #207 A
General Information
Standard status
Pending
Size
1,300 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$6,281
Amenities
Garage
Heated Garage
Insulated Garage
Metal Roof
RV Garage
220 Volts
Natural Gas Heating
Near Public Transit
Parking Lot
Radiant Heating
Building Details
Year Built
2003
Listing Agency:
PAFFRATH & THOMAS R.E.S.C
(970) 453-0466
Listed By:
TODD JOHNSON · License #FA40026516
Source:
Corcoran
Added: Jan 17
Changed: Aug 8
Last Checked: Jul 23 at 7:33AM
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 PAFFRATH & THOMAS R.E.S.C
Investment Insights
Based on property information with market context.
This warehouse condo offers a versatile space suitable for business or personal storage. Located off I-70 in Silverthorne, the Blue River Warehouse condos provide accessibility and convenience. The unit features over 1300 square feet of floor space, a modular mezzanine, and a 14-foot garage door with an opener. It is equipped with electrical capabilities, 20-foot ceilings, full insulation, and gas heating for year-round use. Potential uses include warehousing, distribution, light shop work, and general storage for large RVs or equipment. Common bathrooms are available in the complex, and exterior parking is provided in front of the unit. The sale covers the improvements and is subject to a 99-year ground lease expiring on 12/31/2103. The combined ground lease, HOA fees, and utilities amount to just over $1000 per month. The unit does not have running water or a bathroom. Exterior signage or advertising is not permitted. Natural light enters through the garage door windows and large rear windows. The interior can accommodate a vehicle up to 45 feet long.
Key Highlights
- Over 1300 sq ft of versatile space suitable for business or personal storage.
- Convenient location in Silverthorne, just off I‑70, offering excellent accessibility.
- 20‑foot ceilings and a 14‑foot garage door with opener accommodate large vehicles and equipment (up to 45' long).**
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
$20,214
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
5.25%
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%
$404,280
$404.3K
Cap Rate 7%
$288,771
$288.8K
Cap Rate 9%
$224,600
$224.6K
Market Conditions
NOI Build-Up for 1,300 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
$35.1K $27.00/SF
− Vacancy
−$4.0K −$3.08/SF
EGI
$31.1K $23.92/SF
− OpEx
−$10.9K −$8.37/SF
NOI
$20.2K $15.55/SF
Area
Summit County, CO
Vacancy
11.40%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
35.00%
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%
$404,280
Cap Rate 7%
$288,771
Cap Rate 9%
$224,600
Alternative Uses
Best Use
Warehouse
$25.87M
$22.64M – $30.19M
NOI $1,811,245 @ 7.0% cap · market cap 470.45%
Second Best
Industrial
$21.31M
$18.65M – $24.86M
NOI $1,491,613 @ 7.0% cap · market cap 387.43%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
6
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 80498, CO
8,405
Population
6,931
Households
1.2
Avg Household Size
40
Median Age
44%
College-Educated
91%
High-School Grad
294.8 sq mi
ZIP Area
29
Density / Sq Mi
$105,227
Median Household Income
$49,636
Median Earnings
$1,738
Median Rent
$721,700
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Versatile warehouse condo near I-70, ideal for various uses.
Where is this warehouse located?
The property is located at 220 Buffalo Mountain Drive #207 A Silverthorne, CO.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: Over 1300 sq ft of versatile space suitable for business or personal storage.; Convenient location in Silverthorne, just off I‑70, offering excellent accessibility.; 20‑foot ceilings and a 14‑foot garage door with opener accommodate large vehicles and equipment (up to 45' long).**
