Retail Office Flex
For Sale
$1,250,000
230-100 Midland Ave, Glenwood Springs, CO 81601
Retail-ready interior with three open areas, large windows, two private offices, and two restrooms with parking out front.
Property Size3,700 SF
Price / SF$337.84
Days on Market298
Property Features for 230-100 Midland Ave
General Information
Standard status
Active
Size
3,700 SF
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$8,650
Listing Agency:
Aspen Snowmass Sotheby's International Realty - Glenwood Springs
(970) 366-3511
Listed By:
Sean de Moraes · License #FA40045629
(970) 948-6926
Source:
Exprealty
Added: Nov 11, 2025
Changed: Sep 4
Last Checked: Sep 4 at 12:42PM
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 Aspen Snowmass Sotheby's International Realty - Glenwood Springs
Investment Insights
Based on property information with market context.
This for-sale commercial space offers nearly 3,700 square feet of interior area configured with three large open areas featuring huge windows, along with soaring ceilings. The layout also includes two private offices and two restrooms, supporting a mix of customer-facing and work-area needs.
The space is located in West Glenwood Springs, near the I-70 ramp, with ample common parking available out front. The Midland Center is described as drawing traffic from neighboring businesses, and the property is positioned across from The Glenwood Meadows shopping.
It is also offered as a potential combination purchase with a neighboring unit containing 5,560 square feet, which would create a total of 9,255 square feet for an expanded footprint.
The space is located in West Glenwood Springs, near the I-70 ramp, with ample common parking available out front. The Midland Center is described as drawing traffic from neighboring businesses, and the property is positioned across from The Glenwood Meadows shopping.
It is also offered as a potential combination purchase with a neighboring unit containing 5,560 square feet, which would create a total of 9,255 square feet for an expanded footprint.
Key Highlights
- Nearly 3,700 sq ft retail space in West Glenwood Springs, offered to own instead of leasing
- Interior features three large open areas with huge windows for natural light
- Includes 2 private offices, 2 restrooms, and ample common parking right out front
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
$44,755
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
3.58%
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%
$895,100
$895.1K
Cap Rate 7%
$639,357
$639.4K
Cap Rate 9%
$497,278
$497.3K
Market Conditions
NOI Build-Up for 3,700 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
$66.6K $18.00/SF
− Vacancy
−$2.7K −$0.72/SF
EGI
$63.9K $17.28/SF
− OpEx
−$19.2K −$5.18/SF
NOI
$44.8K $12.10/SF
Area
Garfield County, CO
Vacancy
4.00%
Lease Rate
$18.00 /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%
$895,100
Cap Rate 7%
$639,357
Cap Rate 9%
$497,278
Alternative Uses
Best Use
Retail
$639.4K
$559.4K – $745.9K
NOI $44,755 @ 7.0% cap · market cap 3.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$969.0K
$847.9K – $1.13M
NOI $67,829 @ 7.0% cap · market cap 5.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
322
Businesses Nearby
87k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 55%
Dining 40%
Hotels & Casinos 4%
Kum & Go
Shops & Services
26,122 visits/mo
0.3 miles
Arby's
Dining
21,749 visits/mo
0.4 miles
Culver's
Dining
13,457 visits/mo
0.3 miles
Conoco
Shops & Services
6,001 visits/mo
0.3 miles
7-Eleven
Shops & Services
5,620 visits/mo
0.3 miles
Demographics for 81601, CO
16,484
Population
6,491
Households
2.5
Avg Household Size
38
Median Age
41%
College-Educated
88%
High-School Grad
367.6 sq mi
ZIP Area
45
Density / Sq Mi
$103,632
Median Household Income
$45,271
Median Earnings
$1,812
Median Rent
$726,000
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?
Retail space - Retail-ready interior with three open areas, large windows, two private offices, and two restrooms with parking out front.
Where is this retail space located?
The property is located at 230-100 Midland Ave Glenwood Springs, CO.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Nearly 3,700 sq ft retail space in West Glenwood Springs, offered to own instead of leasing; Interior features three large open areas with huge windows for natural light; Includes 2 private offices, 2 restrooms, and ample common parking right out front
