Ground-Level Office
For Sale
$675,000
2520 S Grand Avenue, Glenwood Springs, CO 81601
Commercial Sale, Glenwood Springs, CO
Property Size1,675 SF
Price / SF$402.99
Days on Market281
Property Features for 2520 S Grand Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Mixed Use
Directions
South on Grand Ave, exit to South Grand, units are on the left before the 27th St Bridge
Subdivision
Glenwood Springs
Standard status
Active
APN
218516442004
Size
1,675 SF
Additional Details
Property Use
Office
Condition
Move-in Ready
Taxes and HOA fees
Tax Year
2025
Tax Description
Section: 16 Township: 6 Range: 89 DESC: A RE-SUB OF LOT 2A PENROSE MINOR SUB-DIV Subdivision: PENROSE PLAZA Unit: 1D STATE EXEMPT #23-01096-11
Legal Description
Section: 16 Township: 6 Range: 89 DESC: A RE-SUB OF LOT 2A PENROSE MINOR SUB-DIV Subdivision: PENROSE PLAZA Unit: 1D STATE EXEMPT #23-01096-11
Amenities
private exterior entrance
separately deeded storage unit
natural light
Building Details
Year built
2002
Listing Agency:
Compass Aspen
(970) 925-6063
Listed By:
Shilo Bartlett · License #FA100069528
(970) 319-0064
Added: Jan 23
Changed: Oct 23
Last Checked: Oct 31 at 4:06AM
MLS# 191510
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.
Unit 104 is a 1,675-square-foot, ground-level office condominium at Penrose Plaza with a dedicated exterior entry. The interior combines an open work area with three windowed private offices and a defined reception foyer, creating a practical arrangement for professional or clinical operations. The property also includes a separately deeded storage unit and one deeded underground parking space.
Built in 2002, the condominium is located within a mixed-use building near downtown Glenwood Springs. Mixed Use zoning supports the property's office setting, while direct access from outside provides a distinct point of entry for occupants and visitors. The combination of private offices, open workspace, storage, and dedicated parking offers a functional ownership option for an office user.
Built in 2002, the condominium is located within a mixed-use building near downtown Glenwood Springs. Mixed Use zoning supports the property's office setting, while direct access from outside provides a distinct point of entry for occupants and visitors. The combination of private offices, open workspace, storage, and dedicated parking offers a functional ownership option for an office user.
Key Highlights
- 1,675 SF ground‑level office condominium
- Three private windowed offices plus open workspace
- Private exterior entrance and defined entry foyer
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,725
Cap Rate
3.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$474,500
$474.5K
Cap Rate 7%
$338,929
$338.9K
Cap Rate 9%
$263,611
$263.6K
Market Conditions
NOI Build-Up for 1,675 SF
Gross rent
$36.8K $21.96/SF
− Vacancy
−$5.1K −$3.07/SF
EGI
$31.6K $18.89/SF
− OpEx
−$7.9K −$4.72/SF
NOI
$23.7K $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%
$474,500
Cap Rate 7%
$338,929
Cap Rate 9%
$263,611
Alternative Uses
Best Use
Office B
$338.9K
$296.6K – $395.4K
NOI $23,725 @ 7.0% cap · market cap 3.51%
Second Best
Healthcare Medical
$294.8K
$258.0K – $344.0K
NOI $20,638 @ 7.0% cap · market cap 3.06%
Theoretical Best
Office A
$438.7K
$383.8K – $511.8K
NOI $30,706 @ 7.0% cap · market cap 4.55%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
896
Businesses Nearby
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Business Placement
Demographics for 81601, CO
16,484
Population
6,491
Households
2.5
Avg Household Size
38
Median Age
41%
College-Educated
88%
High-School Grad
367.6 sq mi
ZIP Area
45
Density / Sq Mi
$103,632
Median Household Income
$45,271
Median Earnings
$1,812
Median Rent
$726,000
Median Home Value
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office unit - Private exterior access and a flexible layout support medical, clinical, and professional office use.
Where is this office unit located?
The property is located at 2520 S Grand Avenue Glenwood Springs, CO.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: 1,675 SF ground‑level office condominium; Three private windowed offices plus open workspace; Private exterior entrance and defined entry foyer
