Mixed-Use Building with
For Sale
$590,000
248 E 1st Street, Parachute, CO 81635
COMMERCIAL - Parachute, CO
Property Size2,412 SF
Lot Size0.12 Acres
Price / SF$244.61
Days on Market48
Property Features for 248 E 1st Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Special Purpose
Lot features
Corner Lot
Directions
Parachute exit left on to 1st Avenue (US 6) - follow to listing on the right. Corner of US 6 and N. Railroad Avenue
Subdivision
Parachute
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
Legal Description
Subdivision: ORIGINAL TWNSTE PARACHUTE Block: 6 Lot: 10 THRU:- Lot: 12
Utilities
Water source
Public
Building Details
Year built
1908
Building materials
Frame
Roof type
Composition
Listing Agency:
FreeByrd Real Estate
(970) 984-9384
Listed By:
Jennie A Marcotte · License #EI1032545
(970) 379-3232
Added: Jul 18
Changed: Aug 15
Last Checked: Sep 3 at 4:06AM
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 property combines commercial and residential components in a frame building constructed in 1908. The ground floor provides commercial space suited to retail, office, or service operations, while the upper level contains a two-bedroom, one-bath apartment. The property includes 2,412 square feet on a 0.12-acre parcel, with public water service, a composition roof, parking, and storage.
Located at 248 E 1st Street in Parachute, the building sits along First Street, a downtown thoroughfare associated with local businesses, shops, and community events. Special Purpose zoning applies to the property. The combination of street-level commercial space and an upstairs residence supports owner occupancy or separate residential rental use as described in the property information.
Located at 248 E 1st Street in Parachute, the building sits along First Street, a downtown thoroughfare associated with local businesses, shops, and community events. Special Purpose zoning applies to the property. The combination of street-level commercial space and an upstairs residence supports owner occupancy or separate residential rental use as described in the property information.
Key Highlights
- 2,412‑square‑foot mixed‑use building on 0.12 acres
- Ground‑floor commercial space with an upstairs 2‑bedroom, 1‑bath apartment
- Frame construction with a 1908 year built
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
$29,176
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
4.95%
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%
$583,520
$583.5K
Cap Rate 7%
$416,800
$416.8K
Cap Rate 9%
$324,178
$324.2K
Market Conditions
NOI Build-Up for 2,412 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
$43.4K $18.00/SF
− Vacancy
−$1.7K −$0.72/SF
EGI
$41.7K $17.28/SF
− OpEx
−$12.5K −$5.18/SF
NOI
$29.2K $12.10/SF
Area
Garfield County, CO
Vacancy
4.00%
Lease Rate
$18.00 /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%
$583,520
Cap Rate 7%
$416,800
Cap Rate 9%
$324,178
Alternative Uses
Best Use
Retail
$416.8K
$364.7K – $486.3K
NOI $29,176 @ 7.0% cap · market cap 4.95%
Second Best
Mixed Use
$356.2K
$311.7K – $415.6K
NOI $24,937 @ 7.0% cap · market cap 4.23%
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 authorities.
Property Analytics
Property Profile
Current Use
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
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial space occupies the ground floor beneath a two-bedroom residential apartment.
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: 2,412‑square‑foot mixed‑use building on 0.12 acres; Ground‑floor commercial space with an upstairs 2‑bedroom, 1‑bath apartment; Frame construction with a 1908 year built
