Commercial Space with 12-Foot
For Sale
$995,000
2673 Jacob Circle #6, Steamboat Springs, CO 80487
Over 3,000 sq ft commercial space near downtown.
Property Size3,000 SF
Price / SF$331.67
Days on Market145
Property Features for 2673 Jacob Circle #6
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$7,865
Amenities
Metal Roof
Asphalt
Forced Air Heating
Building Details
Year Built
1997
Listing Agency:
STEAMBOAT REALTY AND MANAGEMENT
(970) 879-1402
Listed By:
BART KOUNOVSKY · License #FA100071436
Source:
Corcoran
Added: Mar 21
Changed: Aug 8
Last Checked: Aug 8 at 3:05PM
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 STEAMBOAT REALTY AND MANAGEMENT
Investment Insights
Based on property information with market context.
This commercial space offers over 3,000 square feet of area. The unit features a restroom, office space, and a 12-foot door equipped with a garage door opener. The unit height is 15 feet. The property is part of a self-managed HOA. It is located close to downtown, situated just past the intersection of Elk River Road and Highway 40.
Key Highlights
- Large commercial space: Over 3,000 square feet.
- 15‑foot unit height.
- Convenient access: 12‑foot door with garage door opener.
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
$50,220
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
5.05%
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%
$1,004,400
$1.0M
Cap Rate 7%
$717,429
$717.4K
Cap Rate 9%
$558,000
$558.0K
Market Conditions
NOI Build-Up for 3,000 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
$72.0K $24.00/SF
− Vacancy
−$5.0K −$1.68/SF
EGI
$67.0K $22.32/SF
− OpEx
−$16.7K −$5.58/SF
NOI
$50.2K $16.74/SF
Area
Routt County, CO
Vacancy
7.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
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%
$1,004,400
Cap Rate 7%
$717,429
Cap Rate 9%
$558,000
Alternative Uses
Best Use
Office B
$717.4K
$627.8K – $837.0K
NOI $50,220 @ 7.0% cap · market cap 5.05%
Second Best
Flex RnD
$676.9K
$592.3K – $789.8K
NOI $47,385 @ 7.0% cap · market cap 4.76%
Theoretical Best
Warehouse
$1.20M
$1.05M – $1.40M
NOI $83,991 @ 7.0% cap · market cap 8.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
518
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 Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Over 3,000 sq ft commercial space near downtown.
Where is this flex space located?
The property is located at 2673 Jacob Circle #6 Steamboat Springs, CO.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Large commercial space: Over 3,000 square feet.; 15‑foot unit height.; Convenient access: 12‑foot door with garage door opener.
