Live-Work Space with
For Sale
$499,000
248 E 1st Street, Parachute, CO 81635
Commercial Sale, Parachute, CO
Property Size2,412 SF
Lot Size0.12 Acres
Price / SF$206.88
Days on Market93
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
(970) 379-3232
Added: Jul 18
Changed: Oct 1
Last Checked: Oct 18 at 12:06PM
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.
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Investment Insights
Based on property information with market context.
This 2,412-square-foot live-work property includes a two-bedroom, one-bath apartment on the top floor, along with a large deck. Built in 1908 with frame construction, the building sits on a 0.12-acre lot and has a composition roof. Zoning is Special Purpose.
The property is at 248 E 1st Street in Parachute, Colorado, along the town’s central thoroughfare. Interstate 70 visibility is supported by an included large business sign. The site also has 6–10 owned parking spaces, as well as storage.
The property is at 248 E 1st Street in Parachute, Colorado, along the town’s central thoroughfare. Interstate 70 visibility is supported by an included large business sign. The site also has 6–10 owned parking spaces, as well as storage.
Key Highlights
- 2,412 square feet on a 0.12‑acre lot
- Top‑floor apartment has 2 bedrooms, 1 bath, and a large deck
- 6–10 owned parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,164
Cap Rate
6.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$683,280
$683.3K
Cap Rate 7%
$488,057
$488.1K
Cap Rate 9%
$379,600
$379.6K
Market Conditions
NOI Build-Up for 2,412 SF
Gross rent
$53.0K $21.96/SF
− Vacancy
−$7.4K −$3.07/SF
EGI
$45.6K $18.89/SF
− OpEx
−$11.4K −$4.72/SF
NOI
$34.2K $14.16/SF
Area
Garfield County, CO
Vacancy
14.00%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$683,280
Cap Rate 7%
$488,057
Cap Rate 9%
$379,600
Alternative Uses
Best Use
Office B
$488.1K
$427.1K – $569.4K
NOI $34,164 @ 7.0% cap · market cap 6.85%
Second Best
Mixed Use
$356.2K
$311.7K – $415.6K
NOI $24,937 @ 7.0% cap · market cap 5.00%
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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Current Use
Location Intelligence
Trade Area within ½ mile
234
Businesses Nearby
Explore this area
Business Placement
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 Office in West region
Frequently Asked Questions
What type of property is this?
Live-work space - A flexible commercial property combines ground-floor business space with an upstairs two-bedroom residence and a large deck.
Where is this live-work space located?
The property is located at 248 E 1st Street 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: 2,412 square feet on a 0.12‑acre lot; Top‑floor apartment has 2 bedrooms, 1 bath, and a large deck; 6–10 owned parking spaces
