Mixed-Use Building with Upstairs
248 E 1st Street, Parachute, CO 81635
For Sale
$499,000
Commercial Sale, Parachute, CO
Property Size2,412 SF
Lot Size0.12 Acres
Price / SF$206.88
Days on Market119
Property Features for 248 E 1st Street
General Information
Property type
Property subtype
Zoning
Lot features
Directions
Subdivision
Standard status
APN
Size
Lot size
Additional Details
Mixed-Use Components
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Water source
Amenities
deck
storage
Building Details
Year built
Building materials
Roof type
Listing Agency:
FreeByrd Real Estate
Listed By:
Jennie A Marcotte · License CO EI1032545
(970) 984-9384
Added: Jul 18
Changed: Nov 10
Last Checked: Nov 13 at 7:06PM
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 mixed-use property includes a two-bedroom, one-bath apartment on the upper floor, with a large deck. The building dates to 1908 and has frame construction, a composition roof, and public water service. The 0.12-acre parcel includes 6–10 owned parking spaces, along with storage space.
At 248 E 1st Street in Parachute, the property is positioned on the town’s central downtown thoroughfare. A large sign is included, with the listing describing visibility from I-70. Zoning is Special Purpose.
At 248 E 1st Street in Parachute, the property is positioned on the town’s central downtown thoroughfare. A large sign is included, with the listing describing visibility from I-70. Zoning is Special Purpose.
Key Highlights
- 2,412‑square‑foot property on a 0.12‑acre parcel
- Upper‑level apartment has 2 bedrooms, 1 bathroom, 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
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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Current Use
Location Intelligence
Trade Area within ½ mile
234
Businesses Nearby
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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?
Mixed-use property - A flexible commercial property pairs business space with an upper-level residence and owned parking.
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 $499,000.
What are key features of this property?
This property features: 2,412‑square‑foot property on a 0.12‑acre parcel; Upper‑level apartment has 2 bedrooms, 1 bathroom, and a large deck; 6–10 owned parking spaces
