Building Details

Building Size 1,690 SF

Year Built 2021

Listing Agency: RE/MAX Nexus Show Phone

Listed By: Abby Renner · License #ER40029855 Show Phone

Source: Blackfeatherrealty

Added: May 25 Changed: Nov 4 Last Checked: Nov 4 at 2:25AM

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Investment Insights

Based on property information with market context.

This 2021 flex unit at The Ultimate Garage Club contains 1,300 square feet on the main level and a 390-square-foot mezzanine. The upper level has laminate flooring; the main space features epoxy flooring, high-bay lighting, radiant heat, and a ceiling fan. A half bathroom, 14' x 14' overhead garage door with opener, and 220V/100-amp electrical service are also included. The building is insulated, and the property is zoned Commercial.

The property is 1 mile west of I-25 within a fenced community. Shared on-site facilities include a fresh water station, dump station, and car wash. HOA services cover building insurance, road maintenance, and snow removal.

Key Highlights

• 1,300‑square‑foot main level plus a 390‑square‑foot mezzanine
• 14' x 14' garage door with opener
• 220V/100‑amp electrical service and half bathroom

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$15,068

Cap Rate

3.80%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$301,360 $301.4K

Cap Rate 7%

$215,257 $215.3K

Cap Rate 9%

$167,422 $167.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,690 SF

Gross rent

$23.3K $13.80/SF

− Vacancy

−$1.8K −$1.06/SF

EGI

$21.5K $12.74/SF

− OpEx

−$6.5K −$3.82/SF

NOI

$15.1K $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 Rate 5%

$301,360

Cap Rate 7%

$215,257

Cap Rate 9%

$167,422

Alternative Uses

Best Use

Industrial

$215.3K

$188.4K – $251.1K (±1% cap)

NOI $15,068 @ 7.0% cap · market cap 3.80%

Second Best

Flex RnD

$199.9K

$174.9K – $233.2K (±1% cap)

NOI $13,992 @ 7.0% cap · market cap 3.52%

Theoretical Best

Office B

$308.0K

$269.5K – $359.3K (±1% cap)

NOI $21,560 @ 7.0% cap · market cap 5.43%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Lighthouse Storage Storage Facility U-Haul Neighborhood Dealer Car Rental Facility Custom SxS Outfitters Auto Repair Shop David & Sons Plumbers Plumbing Service Ultimate Garage Club Storage Facility

Suggested Use

Top Pick Real Estate Agency Restaurant Law Firm HVAC Service Big Box & Wholesale Store Dental Office

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

1

Drive-in doors

Yes

Highway access

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

3.7% 2019

4.3% 2020

2.6% 2021

2.5% 2022

4.8% 2023

6.9% 2024

7.9% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Heated, insulated construction and 220V service support a range of workspace or storage configurations.

Where is this flex space located?

The property is located at 341 1st St #E-1 Mead, CO.

What is the asking price?

The asking price for this property is $397,000.

What are key features of this property?

This property features: 1,300‑square‑foot main level plus a 390‑square‑foot mezzanine; 14' x 14' garage door with opener; 220V/100‑amp electrical service and half bathroom