Garage Condo with
For Sale
Contact for pricing
341 1st St, Mead, CO 80542
Upgraded garage condo includes a 390 sq. ft. mezzanine, insulated construction, epoxy floors, radiant heat, and a large 14' door.
Property Size1,690 SF
Price / SF$234.91
Days on Market118
Property Features for 341 1st St
General Information
Standard status
Active
Size
1,690 SF
Property subtype
INDUSTRIAL
Additional Details
Highway Access
Yes
Drive-In Doors
1
Amenities
fresh water station
dump station
car wash
Listing Agency:
RE/MAX Nexus
(970) 295-4760
Listed By:
Abigail Renner
(970) 556-0635
Source:
Moodyscre
Added: May 22
Changed: Sep 14
Last Checked: Sep 15 at 8:57AM
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 garage condo is part of The Ultimate Garage Club and is built as a personal cave-style, insulated unit with durable epoxy floors. The space includes high-bay lighting, radiant heat, and a 390 sq. ft. mezzanine finished with laminate flooring. Additional improvements include a 1/2 bathroom, an oversized 14' x 14' garage door with opener, and 220V/100-amp electrical service.
The community is fully secure and fenced, with on-site amenities including a fresh water station, dump station, and a car wash. HOA services cover building insurance, road maintenance, and snow removal. The property is located about 1 mile west of I-25, providing convenient commuter access.
The configuration combines an enclosed garage area with a dedicated mezzanine level, creating flexible workspace or storage potential within a managed, amenity-supported development.
The community is fully secure and fenced, with on-site amenities including a fresh water station, dump station, and a car wash. HOA services cover building insurance, road maintenance, and snow removal. The property is located about 1 mile west of I-25, providing convenient commuter access.
The configuration combines an enclosed garage area with a dedicated mezzanine level, creating flexible workspace or storage potential within a managed, amenity-supported development.
Key Highlights
- Sledgehammer model garage condo with 1300 SF plus a 390 SF mezzanine (laminate flooring).
- Upgraded interior features include epoxy floors, radiant heat, high‑bay lighting, and a super‑sized ceiling fan.
- Includes a 1/2 bathroom and a 14' x 14' oversized garage door with opener.
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
$18,852
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
4.75%
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%
$377,040
$377.0K
Cap Rate 7%
$269,314
$269.3K
Cap Rate 9%
$209,467
$209.5K
Market Conditions
NOI Build-Up for 1,690 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
$24.1K $14.28/SF
− Vacancy
−$2.0K −$1.16/SF
EGI
$22.2K $13.12/SF
− OpEx
−$3.3K −$1.97/SF
NOI
$18.9K $11.15/SF
Area
Weld County, CO
Vacancy
8.10%
Lease Rate
$14.28 /SF/Yr
Expense Ratio
15.00%
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%
$377,040
Cap Rate 7%
$269,314
Cap Rate 9%
$209,467
Alternative Uses
Best Use
Warehouse
$269.3K
$235.7K – $314.2K
NOI $18,852 @ 7.0% cap · market cap 4.75%
Second Best
Industrial
$215.3K
$188.4K – $251.1K
NOI $15,068 @ 7.0% cap · market cap 3.80%
Theoretical Best
Office B
$308.0K
$269.5K – $359.3K
NOI $21,560 @ 7.0% cap · market cap 5.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in West region
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Frequently Asked Questions
What type of property is this?
Flex space - Upgraded garage condo includes a 390 sq. ft. mezzanine, insulated construction, epoxy floors, radiant heat, and a large 14' door.
Where is this flex space located?
The property is located at 341 1st St 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: Sledgehammer model garage condo with 1300 SF plus a 390 SF mezzanine (laminate flooring).; Upgraded interior features include epoxy floors, radiant heat, high‑bay lighting, and a super‑sized ceiling fan.; Includes a 1/2 bathroom and a 14' x 14' oversized garage door with opener.
