Flex Warehouse Condominium
2754 Downhill Drive #A B C Steamboat Springs, CO 80487
2754 Downhill Drive #A B C, Steamboat Springs, CO, 80487
$2,550,000
For Sale
$2,550,000
Three condominium units in an Elk River Road Business Park building, currently assembled with connecting doorways.
Property Size7,195 SF
Lot Size0.83 Acres
Price / SF$354.41
Days on Market29
Property Features for 2754 Downhill Drive #A B C
General Information
- Standard status
- Active
- Size
- 7,195 SF
- Lot size
- 0.83 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 1995
Listing agency
STEAMBOAT SOTHEBY'S INTERNATIONAL REALTY
(970) 879-8100
Listed by
ANNAMARIE SHUNNY
Source
Corcoran
Added: Jun 24 Updated: Jul 21 at 2:40AM Checked: Jul 21 at 4:55AM
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 SOTHEBY'S INTERNATIONAL REALTY
Investment Insights
Based on property information with market context.
Located in Steamboat Springs’ Elk River Road Business Park, this three-unit commercial condominium comprises Units A, B, and C of the Dover Commercial Building. The property is currently configured as one assembled space with connecting doorways, while original demising walls remain in place for a straightforward conversion back to three separate legally deeded condominiums.
Each unit provides a full main level plus a second-level mezzanine, with bathrooms on every level and in each unit. The concrete block building features a built-up flat roof, stucco exterior, thermal windows, central air, gas heat throughout, and concrete floors. Interior improvements include a practical “vanilla-box” finish that can support a buyer’s preferred build-out.
The Industrial zone district allows live-work use, and past and current uses have included offices, warehouse space, a construction showroom, athletic performance and coaching space, and live-work areas. The site offers corner positioning and street frontage on both Downhill Drive and Jacob Circle, along with ample on-site parking, generous storage, and convenient vehicular circulation.
Each unit provides a full main level plus a second-level mezzanine, with bathrooms on every level and in each unit. The concrete block building features a built-up flat roof, stucco exterior, thermal windows, central air, gas heat throughout, and concrete floors. Interior improvements include a practical “vanilla-box” finish that can support a buyer’s preferred build-out.
The Industrial zone district allows live-work use, and past and current uses have included offices, warehouse space, a construction showroom, athletic performance and coaching space, and live-work areas. The site offers corner positioning and street frontage on both Downhill Drive and Jacob Circle, along with ample on-site parking, generous storage, and convenient vehicular circulation.
Key Highlights
- 7,195 SF three‑unit commercial condominium (Units A, B, and C) in the Dover Commercial Building in Steamboat Springs’ Elk River Road Business Park.
- 0.83‑acre corner lot with street frontage on Downhill Drive and Jacob Circle.
- Currently assembled as one connected space with connecting doorways, while original demising walls remain for potential re‑conversion to three separate condos.
Local Financial Insights For Warehouse
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 | $252.1k | $35.04 |
| − Vacancy | −$15.1k | −$2.10 |
| EGI | $237.0k | $32.94 |
| − OpEx | −$35.5k | −$4.94 |
| NOI | $201.4k | $28.00 |
7,195 SF · lease $35.04/SF/yr · vacancy 6.00% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$2.88M
$2.52M – $3.36M
NOI $201,438 @ 7.0% cap · market cap 7.90%
Second Best
Office B
$1.72M
$1.51M – $2.01M
NOI $120,444 @ 7.0% cap · market cap 4.72%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Flex space
Similar For Sale Nearby
FAQs
What type of property is this?
Flex space - Three condominium units in an Elk River Road Business Park building, currently assembled with connecting doorways.
Where is this flex space located?
The property is located at 2754 Downhill Drive #A B C Steamboat Springs, CO.
What is the asking price?
The asking price for this property is $2,550,000.
What are key features of this property?
This property features: 7,195 SF three‑unit commercial condominium (Units A, B, and C) in the Dover Commercial Building in Steamboat Springs’ Elk River Road Business Park.; 0.83‑acre corner lot with street frontage on Downhill Drive and Jacob Circle.; Currently assembled as one connected space with connecting doorways, while original demising walls remain for potential re‑conversion to three separate condos.
