Second-Level Office
New
For Sale
$815,000
2520 S Grand Avenue #209, Glenwood Springs, CO 81601
A multi-room professional suite includes reception, a kitchenette, a private restroom with shower, and two dedicated parking spaces.
Property Size2,136 SF
Price / SF$381.55
Days on Market5
Property Features for 2520 S Grand Avenue #209
General Information
Standard status
Active
Size
2,136 SF
Total Parking Spaces
2
Property subtype
Commercial
Zoning
Commercial
Space & Availability
Floor
2
Condition
Move-in Ready
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Property Use
Office
Amenities
mountain views
reception area
private offices
conference rooms
kitchenette
private restroom with shower
Building Details
Building Size
2,136 SF
Year Built
2002
Listing Agency:
Compass Aspen
(970) 925-6063
Listed By:
Shilo Bartlett · License #FA100069528
(970) 319-0064
Source:
Frontierhomeandranch
Added: Oct 20
Changed: Oct 23
Last Checked: Oct 23 at 5:50PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Compass Aspen
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Investment Insights
Based on property information with market context.
This 2,136-square-foot office condominium occupies the second level of Penrose Plaza. Its layout includes a reception area, multiple private offices, and larger rooms suited to meetings or collaborative work. Large windows bring natural light into the suite, while mountain views provide an outlook beyond the office. A kitchenette has built-in cabinetry and a sink; the private restroom includes a shower. The building dates to 2002, and the property is zoned Commercial.
The suite is at 2520 S Grand Avenue in Glenwood Springs, with proximity to downtown, Valley View Hospital, and Highway 82. Two dedicated parking spaces, identified as Units H and I, are included.
The suite is at 2520 S Grand Avenue in Glenwood Springs, with proximity to downtown, Valley View Hospital, and Highway 82. Two dedicated parking spaces, identified as Units H and I, are included.
Key Highlights
- 2,136‑square‑foot office condominium in Penrose Plaza
- Second‑level suite with reception, multiple private offices, and larger meeting‑capable rooms
- Large windows and mountain views
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,255
Cap Rate
3.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$605,100
$605.1K
Cap Rate 7%
$432,214
$432.2K
Cap Rate 9%
$336,167
$336.2K
Market Conditions
NOI Build-Up for 2,136 SF
Gross rent
$46.9K $21.96/SF
− Vacancy
−$6.6K −$3.07/SF
EGI
$40.3K $18.89/SF
− OpEx
−$10.1K −$4.72/SF
NOI
$30.3K $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%
$605,100
Cap Rate 7%
$432,214
Cap Rate 9%
$336,167
Alternative Uses
Best Use
Office B
$432.2K
$378.2K – $504.3K
NOI $30,255 @ 7.0% cap · market cap 3.71%
Second Best
—
—
no second resolved use
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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
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 - A multi-room professional suite includes reception, a kitchenette, a private restroom with shower, and two dedicated parking spaces.
Where is this office unit located?
The property is located at 2520 S Grand Avenue #209 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: 2,136‑square‑foot office condominium in Penrose Plaza; Second‑level suite with reception, multiple private offices, and larger meeting‑capable rooms; Large windows and mountain views
