Mixed-Use Building with
For Sale
$499,000
248 E 1st St, Parachute, CO 81635
Two-level configuration combines commercial space with an upstairs residential unit.
Property Size2,412 SF
Days on Market47
Property Features for 248 E 1st St
General Information
Standard status
Active
Size
2,412 SF
Property subtype
Commercial
Units
Unit Mix
1 x 2BR/1BA
Multifamily Units
1
Additional Details
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$2,529
Building Details
Building Size
2,412 SF
Year Built
1908
Buildings
1
Listing Agency:
FreeByrd Real Estate
Listed By:
Jennie A Marcotte · License #EI1032545
(970) 379-3232
Source:
Elliman
Added: Sep 10
Changed: Oct 25
Last Checked: Oct 24 at 5:37PM
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 FreeByrd Real Estate
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Investment Insights
Based on property information with market context.
Built in 1908, this mixed-use property places commercial space on the ground floor with a two-bedroom, one-bath apartment above. The lower level has visibility and accessibility suited to retail, office, or service-oriented use, while the apartment offers residential accommodations for an owner or tenant. Parking and storage are also included.
Located at 248 E 1st St in Parachute, the property sits along First Street, a central downtown thoroughfare with local businesses, shops, and community events. The area is part of a downtown revitalization project focused on pedestrian access, bike lanes, park and plaza spaces, and improvements to the town center. The property has a bike score of 41 and a walk score of 37.
Located at 248 E 1st St in Parachute, the property sits along First Street, a central downtown thoroughfare with local businesses, shops, and community events. The area is part of a downtown revitalization project focused on pedestrian access, bike lanes, park and plaza spaces, and improvements to the town center. The property has a bike score of 41 and a walk score of 37.
Key Highlights
- Ground‑floor commercial space with visibility and accessibility
- Two‑bedroom, one‑bath apartment on the upper level
- Retail, office, or service‑oriented commercial use identified
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,494
Cap Rate
5.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$589,880
$589.9K
Cap Rate 7%
$421,343
$421.3K
Cap Rate 9%
$327,711
$327.7K
Market Conditions
NOI Build-Up for 2,412 SF
Gross rent
$56.2K $23.28/SF
− Vacancy
−$2.5K −$1.05/SF
EGI
$53.6K $22.23/SF
− OpEx
−$24.1K −$10.00/SF
NOI
$29.5K $12.23/SF
Area
Garfield County, CO
Vacancy
4.50%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$589,880
Cap Rate 7%
$421,343
Cap Rate 9%
$327,711
Alternative Uses
Best Use
Apartment 5plus
$421.3K
$368.7K – $491.6K
NOI $29,494 @ 7.0% cap · market cap 5.91%
Second Best
Retail
$416.8K
$364.7K – $486.3K
NOI $29,176 @ 7.0% cap · market cap 5.85%
Theoretical Best
Office A
$631.7K
$552.7K – $737.0K
NOI $44,217 @ 7.0% cap · market cap 8.86%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
1
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
234
Businesses Nearby
11k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 98%
Hotels & Casinos 2%
Family Dollar
Shops & Services
3,987 visits/mo
0.2 miles
Shell
Shops & Services
1,992 visits/mo
0.2 miles
Napa Auto Parts
Shops & Services
1,978 visits/mo
0.1 miles
Sinclair
Shops & Services
1,419 visits/mo
0.2 miles
Sinclair
Shops & Services
1,215 visits/mo
0.1 miles
Demographics for 81635, CO
7,185
Population
3,066
Households
2.3
Avg Household Size
34
Median Age
24%
College-Educated
89%
High-School Grad
331.5 sq mi
ZIP Area
22
Density / Sq Mi
$68,865
Median Household Income
$41,082
Median Earnings
$998
Median Rent
$251,900
Median Home Value
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Market
Vacancy Rate% for Retail in West region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-level configuration combines commercial space with an upstairs residential unit.
Where is this mixed-use property located?
The property is located at 248 E 1st St Parachute, CO.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Ground‑floor commercial space with visibility and accessibility; Two‑bedroom, one‑bath apartment on the upper level; Retail, office, or service‑oriented commercial use identified
