Dual-Building Auto Shop
For Sale
$1,995,000
3012 & 3022 Evergreen Pkwy, Evergreen, CO 80439
Two freestanding service buildings offer separate shop layouts, vehicle access, and C-1 zoning along Evergreen Parkway.
Property Size6,857 SF
Lot Size1.00 Acre
Price / SF$290.18
Days on Market168
Property Features for 3012 & 3022 Evergreen Pkwy
General Information
Standard status
Active
Size
6,857 SF
Lot size
1.00 Acre
Property subtype
Big Box Retail
Zoning
C-1
Site & Location
Traffic Count
23,000 vehicles/day
Highway Access
Yes
Road Access
Yes
Amenities
surface parking
covered parking
drive-in access
open bay configuration
Building Details
Building Size
6,857 SF
Year Built
1957
Buildings
2
Listing Agency:
Colorado Commercial Advisors
(512) 595-1864
Listed By:
Kris Manthos · License #FA100107331
(512) 595-1864
Source:
Thebrokerlist
Added: Mar 16
Changed: Aug 30
Last Checked: Aug 30 at 3:14AM
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 Colorado Commercial Advisors
Investment Insights
Based on property information with market context.
This commercial property includes two freestanding auto-shop buildings totaling approximately 6,875 SF across two adjacent parcels. The larger building at 3022 Evergreen Parkway contains approximately 4,425 SF with an auto-garage layout, large shop area, and drive-in functionality. The 3012 Evergreen Parkway building adds approximately 2,450 SF with an open-bay configuration. Surface and covered parking, vehicle circulation, and frontage along Evergreen Parkway support service-oriented operations. The improvements date to 1957.
The property is positioned along Evergreen Parkway, identified in the source information as Highway 74, with traffic counts exceeding 23,000 vehicles per day. C-1 zoning is described as supporting automotive, contractor, retail, and service-oriented uses. The two-building configuration can accommodate an owner-user occupying one building while using the other separately, subject to applicable requirements.
The property is positioned along Evergreen Parkway, identified in the source information as Highway 74, with traffic counts exceeding 23,000 vehicles per day. C-1 zoning is described as supporting automotive, contractor, retail, and service-oriented uses. The two-building configuration can accommodate an owner-user occupying one building while using the other separately, subject to applicable requirements.
Key Highlights
- Two freestanding buildings totaling approximately 6,875 SF
- Nearly 1 acre combined across two adjacent parcels
- C‑1 zoning supports automotive, contractor, retail, and service‑oriented businesses
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
$109,809
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
5.50%
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%
$2,196,180
$2.2M
Cap Rate 7%
$1,568,700
$1.6M
Cap Rate 9%
$1,220,100
$1.2M
Market Conditions
NOI Build-Up for 6,875 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
$165.8K $24.12/SF
− Vacancy
−$9.0K −$1.30/SF
EGI
$156.9K $22.82/SF
− OpEx
−$47.1K −$6.85/SF
NOI
$109.8K $15.97/SF
Area
Jefferson County, CO
Vacancy
5.40%
Lease Rate
$24.12 /SF/Yr
Expense Ratio
30.00%
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%
$2,196,180
Cap Rate 7%
$1,568,700
Cap Rate 9%
$1,220,100
Alternative Uses
Best Use
Retail
$1.57M
$1.37M – $1.83M
NOI $109,809 @ 7.0% cap · market cap 5.50%
Second Best
Flex RnD
$824.6K
$721.5K – $962.0K
NOI $57,722 @ 7.0% cap · market cap 2.89%
Theoretical Best
Multifamily LT 5
$15.30M
$13.39M – $17.85M
NOI $1,070,955 @ 7.0% cap · market cap 53.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
23,000 VPD
Traffic count
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
28
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 80439, CO
24,711
Population
11,137
Households
2.2
Avg Household Size
49
Median Age
71%
College-Educated
98%
High-School Grad
168.8 sq mi
ZIP Area
146
Density / Sq Mi
$152,156
Median Household Income
$67,162
Median Earnings
$1,870
Median Rent
$838,000
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?
Auto shop - Two freestanding service buildings offer separate shop layouts, vehicle access, and C-1 zoning along Evergreen Parkway.
Where is this auto shop located?
The property is located at 3012 & 3022 Evergreen Pkwy Evergreen, CO.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: Two freestanding buildings totaling approximately 6,875 SF; Nearly 1 acre combined across two adjacent parcels; C‑1 zoning supports automotive, contractor, retail, and service‑oriented businesses
