Historic Mixed-Use Main Street
For Sale
$1,545,000
331 St 331 Main St 331, Longmont, CO 80501
Mixed-use building with leased retail, a commercial kitchen, and two residential units.
Property Size4,722 SF
Price / SF$327.19
Days on Market288
Property Features for 331 St 331 Main St 331
General Information
Standard status
Active
Size
4,722 SF
Property subtype
Office
Units
Unit Mix
1 x studio, 1 x 2BR
Multifamily Units
2
Additional Details
Opportunity Zone
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$23,447
Amenities
commercial kitchen
private rooftop deck
Central Air, Ceiling Fan(s)
3
Mixed Use
City
3108.0
Sidewalks, Gutters, Street Lights. Close to Bus Line, Historic Area, Curbs Walk, Asphalt, City Road, Concrete Road.
Building Details
Year Built
1944
Buildings
1
Tenancy
Multi
Listing Agency:
Boulder
(303) 746-7316
Listed By:
Compass
(303) 746-7316
Source:
Xome
Added: Nov 15, 2025
Changed: Aug 29
Last Checked: Aug 29 at 5:55PM
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 Boulder
Investment Insights
Based on property information with market context.
This 4,722-square-foot mixed-use property combines a leased Main Street storefront with a full commercial kitchen at the rear. The upper floor contains two residential units: a studio and a two-bedroom apartment with access to a private rooftop deck. Central air, ceiling fans, updated systems, roof improvements, and interior enhancements are among the property features.
The building is situated in the Downtown Longmont National Historic District and fronts Main Street in Longmont. Sidewalks, curbs, gutters, street lighting, and proximity to a bus line support its established urban setting. The property also carries modified gross lease terms, with utilities and taxes included, providing a defined operating structure for the occupied space.
The building is situated in the Downtown Longmont National Historic District and fronts Main Street in Longmont. Sidewalks, curbs, gutters, street lighting, and proximity to a bus line support its established urban setting. The property also carries modified gross lease terms, with utilities and taxes included, providing a defined operating structure for the occupied space.
Key Highlights
- 4,722‑square‑foot mixed‑use property at 331 Main Street
- Leased retail storefront along Main Street
- Full commercial kitchen in the rear portion of the main level
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
$57,181
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
3.70%
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%
$1,143,620
$1.1M
Cap Rate 7%
$816,871
$816.9K
Cap Rate 9%
$635,344
$635.3K
Market Conditions
NOI Build-Up for 4,722 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
$85.0K $18.00/SF
− Vacancy
−$8.8K −$1.85/SF
EGI
$76.2K $16.15/SF
− OpEx
−$19.1K −$4.04/SF
NOI
$57.2K $12.11/SF
Area
Weld County, CO
Vacancy
10.30%
Lease Rate
$18.00 /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%
$1,143,620
Cap Rate 7%
$816,871
Cap Rate 9%
$635,344
Alternative Uses
Best Use
Specialty Retail
$816.9K
$714.8K – $953.0K
NOI $57,181 @ 7.0% cap · market cap 3.70%
Second Best
Retail
$762.4K
$667.1K – $889.5K
NOI $53,369 @ 7.0% cap · market cap 3.45%
Theoretical Best
Office B
$860.6K
$753.0K – $1.00M
NOI $60,241 @ 7.0% cap · market cap 3.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,144
Businesses Nearby
Explore this area
Business Placement
Demographics for 80501, CO
42,822
Population
19,173
Households
2.2
Avg Household Size
38
Median Age
39%
College-Educated
89%
High-School Grad
12.6 sq mi
ZIP Area
3,399
Density / Sq Mi
$77,705
Median Household Income
$42,599
Median Earnings
$1,586
Median Rent
$461,400
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?
Mixed-use property - Mixed-use building with leased retail, a commercial kitchen, and two residential units.
Where is this mixed-use property located?
The property is located at 331 St 331 Main St 331 Longmont, CO.
What is the asking price?
The asking price for this property is $1,545,000.
What are key features of this property?
This property features: 4,722‑square‑foot mixed‑use property at 331 Main Street; Leased retail storefront along Main Street; Full commercial kitchen in the rear portion of the main level
