Mixed-Use Building with
For Sale
$850,000
Pending
2254 Mustang Drive, Silt, CO 81652
CommercialSale, Silt, CO
Property Size4,600 SF
Days on Market205
Property Features for 2254 Mustang Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial PUD
Lot features
Irregular Lot
Directions
Silt exit to Hwy 6 & 24, right to Lyons Dr., left to Horseshoe Trail, left to Mustang
Subdivision
Silt
Standard status
Pending
Taxes and HOA fees
Tax Annual Amount
7451
Listing Agency:
KELLER WILLIAMS COLORADO WEST REALTY · Keller Williams Realty
(970) 256-9100
Listed By:
Travis Cox
(970) 216-4534
Added: Jan 30
Changed: Aug 22
Last Checked: Aug 23 at 10:06AM
MLS# 20260366
Copyright © 2026 Grand Junction Area Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use commercial property includes a 4,600 SF building with a large shop, vaulted ceilings, office mezzanine, enclosed office, conference-table area, and separate men’s and women’s bathrooms with showers. Natural light enters through large windows and high transoms. The shop includes an overhead door, while the south bay is believed to have a header for a future overhead door installation.
A private exterior entrance serves the 800 SF residential apartment, which contains 1 bedroom and a 3/4 bath. The property also includes a 10 ft x 17 ft shed, a secure fenced 28 ft x 22 ft yard, and 20 designated parking spaces. Two water heaters, measuring 50 gallons and 75 gallons, support the shower facilities.
A private exterior entrance serves the 800 SF residential apartment, which contains 1 bedroom and a 3/4 bath. The property also includes a 10 ft x 17 ft shed, a secure fenced 28 ft x 22 ft yard, and 20 designated parking spaces. Two water heaters, measuring 50 gallons and 75 gallons, support the shower facilities.
Key Highlights
- 4,600 SF commercial building with a large shop and residential apartment
- Shop ceiling reaches 19 ft at the wall and 22 ft at the apex
- 14 ft wide by 10 ft high overhead door with 18 ft of clearance when open
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
$47,558
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
5.60%
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%
$951,160
$951.2K
Cap Rate 7%
$679,400
$679.4K
Cap Rate 9%
$528,422
$528.4K
Market Conditions
NOI Build-Up for 4,600 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
$82.8K $18.00/SF
− Vacancy
−$6.7K −$1.46/SF
EGI
$76.1K $16.54/SF
− OpEx
−$28.5K −$6.20/SF
NOI
$47.6K $10.34/SF
Area
Garfield County, CO
Vacancy
8.10%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$951,160
Cap Rate 7%
$679,400
Cap Rate 9%
$528,422
Alternative Uses
Best Use
Mixed Use
$679.4K
$594.5K – $792.6K
NOI $47,558 @ 7.0% cap · market cap 5.60%
Second Best
Flex RnD
$656.5K
$574.5K – $766.0K
NOI $45,957 @ 7.0% cap · market cap 5.41%
Theoretical Best
Office A
$1.20M
$1.05M – $1.41M
NOI $84,328 @ 7.0% cap · market cap 9.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
124
Businesses Nearby
Explore this area
Business Placement
Demographics for 81652, CO
5,801
Population
2,223
Households
2.6
Avg Household Size
36
Median Age
26%
College-Educated
89%
High-School Grad
105.4 sq mi
ZIP Area
55
Density / Sq Mi
$97,760
Median Household Income
$47,561
Median Earnings
$2,030
Median Rent
$505,200
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?
Mixed-use property - Commercial building combines a large shop, office mezzanine, private apartment, fenced yard, and designated parking.
Where is this mixed-use property located?
The property is located at 2254 Mustang Drive Silt, CO.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 4,600 SF commercial building with a large shop and residential apartment; Shop ceiling reaches 19 ft at the wall and 22 ft at the apex; 14 ft wide by 10 ft high overhead door with 18 ft of clearance when open
