Move-in Ready Office with Mountain
For Sale
$815,000
2520 S Grand Avenue, Glenwood Springs, CO 81601
COMMERCIAL - Glenwood Springs, CO
Property Size2,136 SF
Price / SF$381.55
Days on Market186
Property Features for 2520 S Grand Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Directions
South on Grand Ave, exit onto South Grand, Units are on the left before the 27th ST Bridge
Subdivision
Glenwood Springs
Standard status
Active
APN
218516442010
Size
2,136 SF
Taxes and HOA fees
Tax Year
2026
Tax Description
Section: 16 Township: 6 Range: 89 DESC: FIRST AMENDED Subdivision: PENROSE PLAZA Unit: 2C STATE EXEMPT #23-01096-15
Legal Description
Section: 16 Township: 6 Range: 89 DESC: FIRST AMENDED Subdivision: PENROSE PLAZA Unit: 2C STATE EXEMPT #23-01096-15
Building Details
Year built
2002
Building materials
Concrete, Block
Roof type
Membrane
Listing Agency:
Compass Aspen
(970) 925-6063
Listed By:
Shilo Bartlett · License #FA100069528
(970) 319-0064
Added: Jan 27
Changed: Apr 30
Last Checked: Aug 1 at 6:06AM
MLS# 191509
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 bright, move-in-ready second-level office condominium in Penrose Plaza offers mountain views and exceptional natural light. The suite features a defined reception area, multiple private office spaces, and several larger rooms suitable for conference, meeting, or collaborative use. Large windows throughout create a bright, productive work environment. Additional features include a kitchenette with built-in cabinetry and sink, and a private restroom with shower. The efficient layout supports a wide range of professional, medical, wellness, and administrative uses. Located on the second level, the unit provides added privacy while still offering convenient access within the building. The property includes two dedicated parking spaces (Units H and I). Positioned along South Grand Avenue, Penrose Plaza offers excellent proximity to downtown Glenwood Springs, Valley View Hospital, Highway 82, and regional amenities. It is ideal for owner-users or investors seeking a high-quality professional office in one of Glenwood Springs' most established commercial corridors. The property size is 2136 square feet and is zoned for commercial use.
Key Highlights
- Move‑in‑ready office with mountain views and exceptional natural light.
- Professional layout featuring a reception area, private offices, and conference‑capable rooms.
- Includes kitchenette and private restroom with shower, plus two dedicated parking spaces.
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 | $46.9k | $21.96 |
| − Vacancy | −$6.6k | −$3.07 |
| EGI | $40.3k | $18.89 |
| − OpEx | −$10.1k | −$4.72 |
| NOI | $30.3k | $14.16 |
2,136 SF · lease $21.96/SF/yr · vacancy 14.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$432.2K
$378.2K – $504.3K
NOI $30,255 @ 7.0% cap · market cap 3.71%
Second Best
Healthcare Medical
$376.0K
$329.0K – $438.6K
NOI $26,318 @ 7.0% cap · market cap 3.23%
Theoretical Best
Office A
$559.4K
$489.5K – $652.6K
NOI $39,157 @ 7.0% cap · market cap 4.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
896
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Bright office space in Penrose Plaza, Glenwood Springs.
Where is this office units 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 $815,000.
What are key features of this property?
This property features: Move‑in‑ready office with mountain views and exceptional natural light.; Professional layout featuring a reception area, private offices, and conference‑capable rooms.; Includes kitchenette and private restroom with shower, plus two dedicated parking spaces.
