Restaurant Business Asset with
New
For Sale
$249,000
231 Harris St Unit C-116, Basalt, CO 81621
Operating restaurant business with a commercial kitchen, full bar buildout, and indoor and outdoor seating.
Property Size3,172 SF
Days on Market6
Property Features for 231 Harris St Unit C-116
General Information
Standard status
Active
Size
3,172 SF
Property subtype
Commercial
Zoning
CC-Restaurant/Bar
Restaurant
Seating Capacity
90
Commercial Hood
Yes
Patio
Yes
Equipment Included
Yes
Additional Details
Business Included
Yes
Highway Access
Yes
Building Details
Building Size
3,172 SF
Year Built
2006
Listing Agency:
Compass Aspen
Listed By:
Mike Mercatoris · License #FA100074443
(970) 618-7092
Source:
Elliman
Added: Sep 10
Last Checked: Sep 15 at 8:17AM
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 Compass Aspen
Investment Insights
Based on property information with market context.
Business asset sale for an operating restaurant at 231 Harris Street, Unit C-116, in Basalt, Colorado. No real property interest is included. The 3,172 SF premises, constructed in 2006, include a finished dining room with seating for approximately 90 guests, an outdoor patio, and a full bar buildout.
The operation is equipped with a hooded commercial kitchen, fire suppression, walk-in refrigeration, and POS infrastructure. The premises are zoned CC-Restaurant/Bar and are located along the Highway 82 corridor in the Roaring Fork Valley. The business may continue under its current restaurant operation or accommodate a different restaurant concept. Financial statements, tangible asset schedules, and lease documentation are available to qualified buyers after a confidentiality agreement and buyer qualification form.
The operation is equipped with a hooded commercial kitchen, fire suppression, walk-in refrigeration, and POS infrastructure. The premises are zoned CC-Restaurant/Bar and are located along the Highway 82 corridor in the Roaring Fork Valley. The business may continue under its current restaurant operation or accommodate a different restaurant concept. Financial statements, tangible asset schedules, and lease documentation are available to qualified buyers after a confidentiality agreement and buyer qualification form.
Key Highlights
- Business asset sale; no real property interest included
- 3,172 SF restaurant premises at 231 Harris Street, Unit C‑116
- Approximately 90 indoor seats plus an outdoor patio
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
$19,618
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
7.88%
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%
$392,360
$392.4K
Cap Rate 7%
$280,257
$280.3K
Cap Rate 9%
$217,978
$218.0K
Market Conditions
NOI Build-Up for 3,172 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
$30.1K $9.48/SF
− Vacancy
−$2.0K −$0.64/SF
EGI
$28.0K $8.84/SF
− OpEx
−$8.4K −$2.65/SF
NOI
$19.6K $6.18/SF
Area
Eagle County, CO
Vacancy
6.80%
Lease Rate
$9.48 /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%
$392,360
Cap Rate 7%
$280,257
Cap Rate 9%
$217,978
Alternative Uses
Best Use
Specialty Retail
$680.5K
$595.4K – $793.9K
NOI $47,632 @ 7.0% cap · market cap 19.13%
Second Best
Industrial
$280.3K
$245.2K – $327.0K
NOI $19,618 @ 7.0% cap · market cap 7.88%
Theoretical Best
Office A
$870.0K
$761.3K – $1.02M
NOI $60,902 @ 7.0% cap · market cap 24.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Yes
Commercial hood
Location Intelligence
Trade Area within ½ mile
3
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 81621, CO
6,034
Population
3,145
Households
1.9
Avg Household Size
41
Median Age
59%
College-Educated
96%
High-School Grad
258.7 sq mi
ZIP Area
23
Density / Sq Mi
$103,721
Median Household Income
$58,008
Median Earnings
$2,220
Median Rent
$1,138,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in West region
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Operating restaurant business with a commercial kitchen, full bar buildout, and indoor and outdoor seating.
Where is this conventional restaurant located?
The property is located at 231 Harris St Unit C-116 Basalt, CO.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: Business asset sale; no real property interest included; 3,172 SF restaurant premises at 231 Harris Street, Unit C‑116; Approximately 90 indoor seats plus an outdoor patio
