Flex Space with Roll-Up
New
For Sale
$945,000
2670 Copper Ridge Circle, Steamboat Springs, CO 80487
Street-facing commercial unit with showroom glazing, dedicated office space, and a high-bay layout in a managed complex.
Property Size1,688 SF
Price / SF$559.83
Days on Market7
Property Features for 2670 Copper Ridge Circle
General Information
Standard status
Active
Size
1,688 SF
Property subtype
General Commercial
Warehouse & Industrial
Clear Height
16 ft
Power
100 amps
Three-Phase Power
Yes
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$5,097
Amenities
Ceiling Fan(s)
Asphalt.
Community Maintenance, Paved Road.
Building Details
Year Built
2004
Listing Agency:
The Group Real Estate, LLC
(970) 870-8800
Listed By:
Nick Metzler
Source:
Xome
Added: Aug 16
Changed: Aug 22
Last Checked: Aug 22 at 4:54AM
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 The Group Real Estate, LLC
Investment Insights
Based on property information with market context.
This 1,688 SF flex unit at 2670 Copper Ridge Circle, Suite 7, combines a street-facing storefront with practical warehouse functionality. The layout includes a 10' x 12' roll-up bay door, a separate office, coated flooring, shelving, skylight, second-floor egress windows, and 16-foot ceilings. The upper volume may support added storage or office area, subject to buyer review and applicable City and HOA approvals.
Building improvements include fresh paint, an upgraded office, enhanced interior lighting, an overhead fan, and a gas furnace installed in 2025. The unit also has 3-phase electrical service, plumbing drain access, a roof vent, and a water service line with hose bib. Southern exposure contributes natural light, while the visible position within the complex provides an unobstructed approach to the bay door, signage opportunities, and parking. The association manages the buildings and grounds.
Building improvements include fresh paint, an upgraded office, enhanced interior lighting, an overhead fan, and a gas furnace installed in 2025. The unit also has 3-phase electrical service, plumbing drain access, a roof vent, and a water service line with hose bib. Southern exposure contributes natural light, while the visible position within the complex provides an unobstructed approach to the bay door, signage opportunities, and parking. The association manages the buildings and grounds.
Key Highlights
- 1,688 SF flex unit at 2670 Copper Ridge Circle, Suite 7
- 10' x 12' roll‑up bay door with vertical opening
- 16 ft ceiling height with potential for added upper‑level area, subject to approvals
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$47,259
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.00%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$945,180
$945.2K
Cap Rate 7%
$675,129
$675.1K
Cap Rate 9%
$525,100
$525.1K
Market Conditions
NOI Build-Up for 1,688 SF
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.
Gross rent
$59.1K $35.04/SF
− Vacancy
−$3.5K −$2.10/SF
EGI
$55.6K $32.94/SF
− OpEx
−$8.3K −$4.94/SF
NOI
$47.3K $28.00/SF
Area
Routt County, CO
Vacancy
6.00%
Lease Rate
$35.04 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$945,180
Cap Rate 7%
$675,129
Cap Rate 9%
$525,100
Alternative Uses
Best Use
Warehouse
$675.1K
$590.7K – $787.7K
NOI $47,259 @ 7.0% cap · market cap 5.00%
Second Best
Flex RnD
$380.9K
$333.3K – $444.4K
NOI $26,662 @ 7.0% cap · market cap 2.82%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16 ft
Clear height
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
311
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 80487, CO
18,209
Population
13,231
Households
1.4
Avg Household Size
42
Median Age
57%
College-Educated
97%
High-School Grad
795.8 sq mi
ZIP Area
23
Density / Sq Mi
$106,837
Median Household Income
$50,551
Median Earnings
$1,927
Median Rent
$915,900
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Street-facing commercial unit with showroom glazing, dedicated office space, and a high-bay layout in a managed complex.
Where is this flex space located?
The property is located at 2670 Copper Ridge Circle Steamboat Springs, CO.
What is the asking price?
The asking price for this property is $945,000.
What are key features of this property?
This property features: 1,688 SF flex unit at 2670 Copper Ridge Circle, Suite 7; 10' x 12' roll‑up bay door with vertical opening; 16 ft ceiling height with potential for added upper‑level area, subject to approvals
