Storefront Property with Renovations Since
For Sale
Contact for pricing
228 Broadway St, Eagle, CO 81631
Renovated storefront with new air conditioner, security cameras, plumbing upgrades, furnace, and electrical panel.
Property Size2,187 SF
Price / SF$411.52
Days on Market433
Property Features for 228 Broadway St
General Information
Standard status
Active
Size
2,187 SF
Property subtype
RETAIL
Listing Agency:
Olive Real Estate Partners, Inc.
(719) 598-3000
Listed By:
Jeremy Shirley · License #Co FA.100067771
(719) 244-5182
Source:
Moodyscre
Added: Jun 1, 2025
Changed: Jul 29
Last Checked: Aug 7 at 5:55AM
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 Olive Real Estate Partners, Inc.
Investment Insights
Based on property information with market context.
A 2,187 SF storefront property at 228 Broadway St is available for sale. Renovations since 2015 include a new air conditioner, security cameras, plumbing upgrades, furnace, and an electrical panel.
The property is located adjacent to the county office in Downtown Eagle, CO and benefits from heavy foot traffic.
The building is within the Downtown Development Authority, and may be eligible for business improvement funding.
The property is located adjacent to the county office in Downtown Eagle, CO and benefits from heavy foot traffic.
The building is within the Downtown Development Authority, and may be eligible for business improvement funding.
Key Highlights
- 2,187 SF storefront property at 228 Broadway St, Eagle, CO
- Renovations since 2015 include new air conditioner
- Security cameras on site
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
$30,651
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
3.41%
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%
$613,020
$613.0K
Cap Rate 7%
$437,871
$437.9K
Cap Rate 9%
$340,567
$340.6K
Market Conditions
NOI Build-Up for 2,187 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
$46.2K $21.12/SF
− Vacancy
−$2.4K −$1.10/SF
EGI
$43.8K $20.02/SF
− OpEx
−$13.1K −$6.01/SF
NOI
$30.7K $14.02/SF
Area
Eagle County, CO
Vacancy
5.20%
Lease Rate
$21.12 /SF/Yr
Expense Ratio
30.00%
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%
$613,020
Cap Rate 7%
$437,871
Cap Rate 9%
$340,567
Alternative Uses
Best Use
Retail
$437.9K
$383.1K – $510.9K
NOI $30,651 @ 7.0% cap · market cap 3.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$599.9K
$524.9K – $699.8K
NOI $41,990 @ 7.0% cap · market cap 4.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
468
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 81631, CO
9,017
Population
3,137
Households
2.9
Avg Household Size
39
Median Age
52%
College-Educated
93%
High-School Grad
220.4 sq mi
ZIP Area
41
Density / Sq Mi
$104,430
Median Household Income
$54,994
Median Earnings
$1,685
Median Rent
$717,600
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Renovated storefront with new air conditioner, security cameras, plumbing upgrades, furnace, and electrical panel.
Where is this storefront property located?
The property is located at 228 Broadway St Eagle, CO.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: 2,187 SF storefront property at 228 Broadway St, Eagle, CO; Renovations since 2015 include new air conditioner; Security cameras on site
