Heated Flex
For Sale
$525,000
Pending
2270 Marble Court, Steamboat Springs, CO 80487
Commercial, Steamboat Springs, CO
Property Size900 SF
Lot Size0.02 Acres
Days on Market131
Property Features for 2270 Marble Court
General Information
Property type
Commercial Sale
Property subtype
Other
Subdivision
MARBLEHILL INDUSTRIAL PARK
Standard status
Pending
APN
R8181248
Lot size
0.02 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
4343
Utilities
Heating system
Floor Furnace, Natural Gas
Building Details
Year built
2021
Roof type
Metal
Listing Agency:
The Agency Steamboat Springs
(970) 457-6880
Listed By:
Chris Paoli
(970) 819-1432
Added: Apr 15
Changed: Aug 23
Last Checked: Aug 23 at 11:06AM
MLS# S1068233
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.
Investment Insights
Based on property information with market context.
Built in 2021, this flex-space unit is configured as a heated garage measuring 20 feet by 45 feet. A 14-foot overhead door provides access for larger vehicles and equipment, while the metal roof and natural-gas floor furnace support the building’s functional design. The space can accommodate vehicle, trailer, recreational equipment, contractor, and warehouse storage uses identified for the property.
The unit is located at 2270 Marble Court in Steamboat Springs, across from Steamboat Airport and near Elk River Road. Its position provides access to the surrounding backcountry area, while the workshop format offers a dedicated enclosed setting for storage or work activities. The property is part of Marble Hill Custom Workshops and includes heated interior space suitable for year-round use.
The unit is located at 2270 Marble Court in Steamboat Springs, across from Steamboat Airport and near Elk River Road. Its position provides access to the surrounding backcountry area, while the workshop format offers a dedicated enclosed setting for storage or work activities. The property is part of Marble Hill Custom Workshops and includes heated interior space suitable for year-round use.
Key Highlights
- 20' x 45' heated garage
- 14' overhead door
- Built in 2021
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
$25,197
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
4.80%
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%
$503,940
$503.9K
Cap Rate 7%
$359,957
$360.0K
Cap Rate 9%
$279,967
$280.0K
Market Conditions
NOI Build-Up for 900 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
$31.5K $35.04/SF
− Vacancy
−$1.9K −$2.10/SF
EGI
$29.6K $32.94/SF
− OpEx
−$4.4K −$4.94/SF
NOI
$25.2K $28.00/SF
Area
Routt County, CO
Vacancy
6.00%
Lease Rate
$35.04 /SF/Yr
Expense Ratio
15.00%
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%
$503,940
Cap Rate 7%
$359,957
Cap Rate 9%
$279,967
Alternative Uses
Best Use
Warehouse
$360.0K
$315.0K – $420.0K
NOI $25,197 @ 7.0% cap · market cap 4.80%
Second Best
Flex RnD
$203.1K
$177.7K – $236.9K
NOI $14,216 @ 7.0% cap · market cap 2.71%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1
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
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?
Flex space - Versatile garage space supports storage, contractor activities, and warehouse functions with year-round heating.
Where is this flex space located?
The property is located at 2270 Marble Court Steamboat Springs, CO.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 20' x 45' heated garage; 14' overhead door; Built in 2021
