Insulated Flex Space with Garage
For Sale
$200,000
341 1st St, Mead, CO 80542
Commercial Sale, Mead, CO
Property Size1,000 SF
Lot Size0.02 Acres
Price / SF$200
Days on Market58
Property Features for 341 1st St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Appliances
No Inclusions
Subdivision
Ultimate Garage Club Condos Ph 2
Lot features
Level, Paved, Curbs, Gutters, Sidewalks, Fire Hydrant within 500 Feet
Elementary school
Mead
High school
Mead
Elementary school district
ST Vrain Dist RE 1J
Middle school district
ST Vrain Dist RE 1J
High school district
ST Vrain Dist RE 1J
Directions
Take I-25 to the Mead exit and head west on County Road 34. Turn right onto 1st Street and continue to 341 1st Street. Unit B-6 is located in the Ultimate Garage Club.
Standard status
Active
APN
R8952490
Lot size
0.02 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8377
Utilities
Utilities
Cable Available
Heating system
Radiant
Cooling system
Ceiling Fan(s)
Amenities
onsite car wash
onsite fresh water station
dump station
radiant in-floor heat
private restroom
gated community
Building Details
Year built
2017
Building materials
Metal Siding, Metal Frame, Steel Frame, Ceiling: 16-20 Feet, Floor: Concrete, Floor: Sealed
Roof type
Metal
Listing Agency:
RE/MAX Nexus · RE/MAX International
(970) 295-4760
Listed By:
Abby Renner · License #ER40029855
(970) 556-0635
Added: Jun 25
Changed: Aug 19
Last Checked: Aug 21 at 8:06PM
MLS# 1062822
Copyright © 2026 IRES MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,000-square-foot flex-space condominium was built in 2017 and offers a practical warehouse configuration within a metal and steel-framed building. The fully insulated unit includes radiant in-floor heating, sealed epoxy-coated concrete flooring, a private restroom with a deep utility sink, and ceiling heights ranging from 16 to 20 feet. Electrical service includes 220V/100-amp and 50-amp outlets, while a 14' x 14' overhead garage door with automatic opener accommodates large vehicles, trailers, equipment, and recreational vehicles.
The property is situated in a fully fenced, gated community approximately one mile west of I-25 in Mead, providing access to Northern Colorado and the Front Range. Community amenities include an on-site car wash, fresh water station, and dump station. Commercial zoning applies.
The property is situated in a fully fenced, gated community approximately one mile west of I-25 in Mead, providing access to Northern Colorado and the Front Range. Community amenities include an on-site car wash, fresh water station, and dump station. Commercial zoning applies.
Key Highlights
- 1,000 SF insulated flex‑space condominium built in 2017
- 14' x 14' overhead garage door with automatic opener
- Radiant in‑floor heat and sealed epoxy‑coated concrete 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
$11,155
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
5.58%
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%
$223,100
$223.1K
Cap Rate 7%
$159,357
$159.4K
Cap Rate 9%
$123,944
$123.9K
Market Conditions
NOI Build-Up for 1,000 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
$14.3K $14.28/SF
− Vacancy
−$1.2K −$1.16/SF
EGI
$13.1K $13.12/SF
− OpEx
−$2.0K −$1.97/SF
NOI
$11.2K $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%
$223,100
Cap Rate 7%
$159,357
Cap Rate 9%
$123,944
Alternative Uses
Best Use
Warehouse
$159.4K
$139.4K – $185.9K
NOI $11,155 @ 7.0% cap · market cap 5.58%
Second Best
Industrial
$127.4K
$111.5K – $148.6K
NOI $8,916 @ 7.0% cap · market cap 4.46%
Theoretical Best
Office B
$182.3K
$159.5K – $212.6K
NOI $12,758 @ 7.0% cap · market cap 6.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Secure gated access, radiant floor heating, and a private restroom support versatile commercial storage and workspace use.
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 $200,000.
What are key features of this property?
This property features: 1,000 SF insulated flex‑space condominium built in 2017; 14' x 14' overhead garage door with automatic opener; Radiant in‑floor heat and sealed epoxy‑coated concrete floors
