Evergreen Parkway Commercial Buildings For
For Sale
Contact for pricing
3022 Evergreen Pkwy, Evergreen, CO 80439
Two buildings on Evergreen Parkway with income and redevelopment potential.
Property Size6,875 SF
Lot Size1.00 Acre
Price / SF$290.18
Days on Market168
Property Features for 3022 Evergreen Pkwy
General Information
Standard status
Active
Size
6,875 SF
Class
C
Lot size
1.00 Acre
Property subtype
Industrial, Mixed Use, Retail
Zoning
C-1
Occupancy
100%
Lease Type
NNN
Investment Type
Value Add
Building Details
Year Built
1957
Buildings
2
Stories
1
Units
2
Tenancy
Multi
Listing Agency:
Colorado Commercial Advisors
(303) 877-8329
Listed By:
Kris Manthos · License #FA100107331
Source:
Crexi
Added: Mar 6
Changed: Aug 14
Last Checked: Aug 20 at 9:06PM
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.
Located along Evergreen’s primary commercial corridor, the property at 3022 Evergreen Parkway features two freestanding commercial buildings totaling approximately 6,875 square feet on nearly 1 acre combined. The site has direct exposure to Evergreen Parkway (Highway 74) with traffic counts exceeding 23,000 vehicles per day. The property offers visibility and accessibility in one of Evergreen’s active commercial corridors. The offering includes two adjacent parcels with C-1 zoning, providing flexibility for a range of service, automotive, contractor, and retail uses. The properties have historically supported auto repair and towing operations and feature functional layouts suited for shop, service, and light industrial users. The property generates approximately $9,800 per month in gross rental income ($117,600 annually). Evergreen Parkway serves as the primary commercial spine of Evergreen, connecting local residents, visitors, and commuters traveling between Evergreen, Bergen Park, and Interstate 70. The area benefits from local demographics and consistent year-round traffic. Ideal uses include auto repair or mechanical shop, towing company operations, automotive specialty services (tire, brake, detailing), contractor headquarters (HVAC, plumbing, electrical, landscaping), equipment service or fabrication, retail/service hybrid concepts, and small business flex or maker space.
Key Highlights
- Two freestanding commercial buildings totaling approximately 6,875 SF on nearly 1 acre with direct exposure to Evergreen Parkway (Highway 74).
- Located on Evergreen's primary commercial corridor with high traffic counts (exceeding 23,000 vehicles per day), offering exceptional visibility and accessibility.
- C‑1 zoning provides flexibility for a wide range of service, automotive, contractor, and retail uses.
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
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Auto shop - Two buildings on Evergreen Parkway with income and redevelopment potential.
Where is this auto shop located?
The property is located at 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 commercial buildings totaling approximately 6,875 SF on nearly 1 acre with direct exposure to Evergreen Parkway (Highway 74).; Located on Evergreen's primary commercial corridor with high traffic counts (exceeding 23,000 vehicles per day), offering exceptional visibility and accessibility.; C‑1 zoning provides flexibility for a wide range of service, automotive, contractor, and retail uses.
