Downtown Eagle Office
For Sale
$195,000
241 Broadway #203, Eagle, CO 81631
Unfinished office space with balcony in downtown Eagle.
Property Size895 SF
Price / SF$217.88
Days on Market387
Property Features for 241 Broadway #203
General Information
Standard status
Active
Size
895 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$2,156
Amenities
Central Heating
Natural Gas Heating
Building Details
Year Built
2009
Listing Agency:
ALPINE RESORT REAL ESTATE
(970) 471-1787
Listed By:
WENDY S SACKS
Source:
Corcoran
Added: Aug 1, 2025
Changed: Aug 21
Last Checked: Aug 21 at 7:41AM
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 ALPINE RESORT REAL ESTATE
Investment Insights
Based on property information with market context.
This office space is located in downtown Eagle. The property is ADA compliant and features a private balcony. An elevator provides access to a storage unit available in the basement. The 895 square-foot space is currently unfinished, allowing for customization.
Key Highlights
- Customizable unfinished office space allows you to create your ideal workspace.
- Prime downtown Eagle location offers convenience and visibility.
- Enjoy fresh air and city views from your private balcony.
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
$12,566
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
6.44%
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%
$251,320
$251.3K
Cap Rate 7%
$179,514
$179.5K
Cap Rate 9%
$139,622
$139.6K
Market Conditions
NOI Build-Up for 895 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
$21.5K $24.00/SF
− Vacancy
−$4.7K −$5.28/SF
EGI
$16.8K $18.72/SF
− OpEx
−$4.2K −$4.68/SF
NOI
$12.6K $14.04/SF
Area
Eagle County, CO
Vacancy
22.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
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%
$251,320
Cap Rate 7%
$179,514
Cap Rate 9%
$139,622
Alternative Uses
Best Use
Office B
$179.5K
$157.1K – $209.4K
NOI $12,566 @ 7.0% cap · market cap 6.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$245.5K
$214.8K – $286.4K
NOI $17,184 @ 7.0% cap · market cap 8.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
13
Businesses Nearby
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 Office 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?
Office units - Unfinished office space with balcony in downtown Eagle.
Where is this office units located?
The property is located at 241 Broadway #203 Eagle, CO.
What is the asking price?
The asking price for this property is $195,000.
What are key features of this property?
This property features: Customizable unfinished office space allows you to create your ideal workspace.; Prime downtown Eagle location offers convenience and visibility.; Enjoy fresh air and city views from your private balcony.
