Mixed-Use Building with Retail
248 E 1st Street Parachute, CO 81635
New
248 E 1st Street, Parachute, CO, 81635
$590,000
For Sale
$590,000
COMMERCIAL - Parachute, CO
Property Size2,412 SF
Lot Size0.12 Acres
Price / SF$244.61
Days on Market2
Property Features for 248 E 1st Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- Special Purpose
- Standard status
- Active
- APN
- 240912113007
- Size
- 2,412 SF
- Lot size
- 0.12 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- Subdivision: ORIGINAL TWNSTE PARACHUTE Block: 6 Lot: 10 THRU:- Lot: 12
- Tax Annual Amount
- 2529
Utilities
- Water source
- Public
Building Details
- Year built
- 1908
- Building materials
- Frame
- Roof type
- Composition
Listing Agency
FreeByrd Real Estate
(970) 984-9384
PO Box 341, New Castle, CO
Listed by
Jennie A Marcotte · License #EI1032545
(970) 379-3232
Added: Jul 18 Checked: Jul 19 at 7:06 pm
MLS# 193864
Copyright © 2026 Aspen Glenwood MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use building offers commercial space on the ground level with a residential apartment above. The upper unit includes two bedrooms and one bathroom, creating a combined live-work setup or an opportunity to generate rental income from the apartment.
The property is located at 248 E 1st Street in Parachute, where E 1st Street serves as the town’s central thoroughfare through the downtown area and hosts local businesses and community events.
Additional details provided include an abundance of parking and storage to support day-to-day operations for the commercial level and comfortable living for the residential unit.
The property is located at 248 E 1st Street in Parachute, where E 1st Street serves as the town’s central thoroughfare through the downtown area and hosts local businesses and community events.
Additional details provided include an abundance of parking and storage to support day-to-day operations for the commercial level and comfortable living for the residential unit.
Key Highlights
- Centrally located mixed‑use building with commercial space on the ground level and a 2 bed, 1 bath residential apartment above
- Frame construction built in 1908
- Public water service and composition roof
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $53.0k | $21.96 |
| − Vacancy | −$7.4k | −$3.07 |
| EGI | $45.6k | $18.89 |
| − OpEx | −$11.4k | −$4.72 |
| NOI | $34.2k | $14.16 |
2,412 SF · lease $21.96/SF/yr · vacancy 14.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$488.1K
$427.1K – $569.4K
NOI $34,164 @ 7.0% cap · market cap 5.79%
Second Best
Retail
$416.8K
$364.7K – $486.3K
NOI $29,176 @ 7.0% cap · market cap 4.95%
Theoretical Best
Office A
$631.7K
$552.7K – $737.0K
NOI $44,217 @ 7.0% cap · market cap 7.49%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Marijuana Dispensary
Pharmacy
Kind Castle Parachute
(Bike/Boat/Book/etc) Store
Pharmacy
Pharmacy
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Mixed-use property with commercial space on the ground level and a 2-bedroom, 1-bath apartment above.
Where is this mixed-use property located?
The property is located at 248 E 1st Street Parachute, CO.
What is the asking price?
The asking price for this property is $590,000.
What are key features of this property?
This property features: Centrally located mixed‑use building with commercial space on the ground level and a 2 bed, 1 bath residential apartment above; Frame construction built in 1908; Public water service and composition roof
