Premium Commercial Garage
For Sale
$395,000
341 1st #D-1, Mead, CO 80542
Fully loaded, move-in ready garage condo with mezzanine.
Property Size1,400 SF
Lot Size0.03 Acres
Price / SF$282.14
Days on Market368
Property Features for 341 1st #D-1
General Information
Standard status
Active
Size
1,400 SF
Lot size
0.03 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$8,675
Amenities
Central air
Metal Roof
Ceiling Fan(s) Cooling
Covenants
Level
Level Drive
Level Lot
Loading: Drive-in
Paved
Radiant Heating
Building Details
Year Built
2019
Listing Agency:
RE/MAX Nexus
(970) 295-4760
Listed By:
ABBY RENNER · License #40029855
Source:
Corcoran
Added: Aug 7, 2025
Changed: Aug 8
Last Checked: Apr 6 at 1:54AM
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 RE/MAX Nexus
Investment Insights
Based on property information with market context.
This commercial garage condo offers 1,400 square feet of space, plus an additional 450 square foot mezzanine. The unit is equipped with a private bathroom and epoxy floors. Radiant heat and a massive ceiling fan provide efficient and comfortable climate control throughout the year. A 14x14 foot garage door with openers allows easy access for large vehicles and equipment. The unit includes 220V with 100 amp service. The fully secured and fenced facility provides 24/7 protection. Onsite amenities include a fresh water station, RV dump, and wash bay. The property is located just 1 mile west of I-25, suitable for business storage, personal storage, or hobby needs.
Key Highlights
- Move‑in ready 1,400 SF garage condo with a 450 SF mezzanine
- Secure, fenced facility with 24/7 protection
- Features a private bathroom and epoxy floors
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
$12,483
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
3.16%
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%
$249,660
$249.7K
Cap Rate 7%
$178,329
$178.3K
Cap Rate 9%
$138,700
$138.7K
Market Conditions
NOI Build-Up for 1,400 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
$19.3K $13.80/SF
− Vacancy
−$1.5K −$1.06/SF
EGI
$17.8K $12.74/SF
− OpEx
−$5.3K −$3.82/SF
NOI
$12.5K $8.92/SF
Area
Weld County, CO
Vacancy
7.70%
Lease Rate
$13.80 /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%
$249,660
Cap Rate 7%
$178,329
Cap Rate 9%
$138,700
Alternative Uses
Best Use
Industrial
$178.3K
$156.0K – $208.1K
NOI $12,483 @ 7.0% cap · market cap 3.16%
Second Best
Flex RnD
$165.6K
$144.9K – $193.2K
NOI $11,591 @ 7.0% cap · market cap 2.93%
Theoretical Best
Office B
$255.2K
$223.3K – $297.7K
NOI $17,861 @ 7.0% cap · market cap 4.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
126
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 80542, CO
4,841
Population
1,778
Households
2.7
Avg Household Size
40
Median Age
52%
College-Educated
93%
High-School Grad
9.2 sq mi
ZIP Area
526
Density / Sq Mi
$127,500
Median Household Income
$58,578
Median Earnings
$2,694
Median Rent
$590,500
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?
Flex space - Fully loaded, move-in ready garage condo with mezzanine.
Where is this flex space located?
The property is located at 341 1st #D-1 Mead, CO.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Move‑in ready 1,400 SF garage condo with a 450 SF mezzanine; Secure, fenced facility with 24/7 protection; Features a private bathroom and epoxy floors
