Mixed-Use Restaurant with
For Sale
$875,000
237 MAIN St, Mead, CO 80542
Restaurant, bar, and a separate garage building with a finished upper floor offer multiple functional spaces.
Property Size4,032 SF
Days on Market40
Property Features for 237 MAIN St
General Information
Standard status
Active
Size
4,032 SF
Property subtype
Commercial
Restaurant
Seating Capacity
150
Patio
Yes
Liquor License
No
Taxes and HOA fees
Annual Taxes
$11,212
Building Details
Building Size
4,032 SF
Year Built
1904
Year Renovated
1997
Buildings
2
Listing Agency:
Skyhawk Realty
Listed By:
MaryRose Cullen
(720) 244-2575
Source:
Elliman
Added: Sep 26
Changed: Oct 31
Last Checked: Nov 3 at 5:29AM
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 Skyhawk Realty
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This mixed-use property combines a restaurant and bar with a detached garage building. The dining and bar operation spans a main-floor restaurant and an upper-level bar, with two patios and seating for 150. A full basement contains food-preparation, office, and storage areas, along with room identified for possible expansion. The garage accommodates two cars and has a finished upper level that could serve as living quarters.
The original building dates to 1904. A 1975 addition created an upper living area, and subsequent work in 1997 expanded the restaurant and bar; the garage’s upper floor was also finished that year. The restaurant’s upper level later served as banquet space in 1999.
The original building dates to 1904. A 1975 addition created an upper living area, and subsequent work in 1997 expanded the restaurant and bar; the garage’s upper floor was also finished that year. The restaurant’s upper level later served as banquet space in 1999.
Key Highlights
- Seating capacity of 150 across the restaurant and bar
- Two patios and a full basement with prep, office, and storage areas
- Separate garage building accommodates two cars and has a finished upper level
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,826
Cap Rate
5.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$976,520
$976.5K
Cap Rate 7%
$697,514
$697.5K
Cap Rate 9%
$542,511
$542.5K
Market Conditions
NOI Build-Up for 4,032 SF
Gross rent
$72.6K $18.00/SF
− Vacancy
−$7.5K −$1.85/SF
EGI
$65.1K $16.15/SF
− OpEx
−$16.3K −$4.04/SF
NOI
$48.8K $12.11/SF
Area
Weld County, CO
Vacancy
10.30%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$976,520
Cap Rate 7%
$697,514
Cap Rate 9%
$542,511
Alternative Uses
Best Use
Specialty Retail
$697.5K
$610.3K – $813.8K
NOI $48,826 @ 7.0% cap · market cap 5.58%
Second Best
Mixed Use
$59.9K
$52.4K – $69.9K
NOI $4,193 @ 7.0% cap · market cap 0.48%
Theoretical Best
Office B
$734.8K
$643.0K – $857.3K
NOI $51,438 @ 7.0% cap · market cap 5.88%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
41
Businesses Nearby
Explore this area
Business Placement
Demographics for 80542, CO
4,841
Population
1,778
Households
2.7
Avg Household Size
40
Median Age
52%
College-Educated
93%
High-School Grad
9.2 sq mi
ZIP Area
526
Density / Sq Mi
$127,500
Median Household Income
$58,578
Median Earnings
$2,694
Median Rent
$590,500
Median Home Value
Market
Vacancy Rate% for Retail in West region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Restaurant, bar, and a separate garage building with a finished upper floor offer multiple functional spaces.
Where is this mixed-use property located?
The property is located at 237 MAIN St Mead, CO.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Seating capacity of 150 across the restaurant and bar; Two patios and a full basement with prep, office, and storage areas; Separate garage building accommodates two cars and has a finished upper level
