12-Unit Apartment
For Sale
$3,075,000
280 E Washington Avenue, Hayden, CO 81639
Newly built duplex-style residences include private decks, dedicated parking, and efficient layouts.
Property Size7,068 SF
Days on Market209
Property Features for 280 E Washington Avenue
General Information
Standard status
Active
Size
7,068 SF
Total Parking Spaces
24
Property subtype
Commercial
Additional Details
Cap Rate
6.32%
Multifamily Units
12
Amenities
private decks
dedicated parking
Building Details
Building Size
7,068 SF
Year Built
2018
Units
12
Listing Agency:
The Group Real Estate, LLC
(970) 870-8800
Listed By:
Greg Breslau · License #100035230
Source:
Coloradopartners
Added: Jan 26
Changed: Aug 16
Last Checked: Aug 22 at 12:37PM
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.
Completed in 2018, this 12-unit apartment property is arranged as duplex-style residences with modern finishes, private decks, dedicated parking, and efficient floor plans. Each unit is separately metered and deeded, with residents responsible for all utilities. The property has in-place leases, high occupancy, and low turnover.
The apartments are located in the downtown core of Hayden, near Yampa Valley Regional Airport and approximately 22 miles from Steamboat Springs. Existing management may remain after closing. Current performance reflects a 6.32% cap rate, with a proforma cap rate of 6.51%.
The apartments are located in the downtown core of Hayden, near Yampa Valley Regional Airport and approximately 22 miles from Steamboat Springs. Existing management may remain after closing. Current performance reflects a 6.32% cap rate, with a proforma cap rate of 6.51%.
Key Highlights
- 12‑unit apartment property completed in 2018
- Duplex‑style units with modern finishes, private decks, and efficient floor plans
- Dedicated parking provided for residents
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
$131,550
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
4.28%
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%
$2,631,000
$2.6M
Cap Rate 7%
$1,879,286
$1.9M
Cap Rate 9%
$1,461,667
$1.5M
Market Conditions
NOI Build-Up for 7,068 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
$254.4K $36.00/SF
− Vacancy
−$15.3K −$2.16/SF
EGI
$239.2K $33.84/SF
− OpEx
−$107.6K −$15.23/SF
NOI
$131.5K $18.61/SF
Area
Routt County, CO
Vacancy
6.00%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
45.00%
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%
$2,631,000
Cap Rate 7%
$1,879,286
Cap Rate 9%
$1,461,667
Alternative Uses
Best Use
Apartment 5plus
$1.88M
$1.64M – $2.19M
NOI $131,550 @ 7.0% cap · market cap 4.28%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$2.83M
$2.47M – $3.30M
NOI $197,883 @ 7.0% cap · market cap 6.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
1
Businesses Nearby
Explore this area
Business Placement
Demographics for 81639, CO
2,498
Population
1,256
Households
2
Avg Household Size
38
Median Age
29%
College-Educated
96%
High-School Grad
464.4 sq mi
ZIP Area
5
Density / Sq Mi
$106,429
Median Household Income
$53,421
Median Earnings
$1,680
Median Rent
$415,500
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Newly built duplex-style residences include private decks, dedicated parking, and efficient layouts.
Where is this apartment building located?
The property is located at 280 E Washington Avenue Hayden, CO.
What is the asking price?
The asking price for this property is $3,075,000.
What are key features of this property?
This property features: 12‑unit apartment property completed in 2018; Duplex‑style units with modern finishes, private decks, and efficient floor plans; Dedicated parking provided for residents
