Insulated Flex Garage
For Sale
$397,000
341 1st St, Mead, CO 80542
Commercial Sale, Mead, CO
Property Size1,690 SF
Lot Size0.03 Acres
Price / SF$234.91
Days on Market92
Property Features for 341 1st St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Rooms
Basement
Appliances
No Inclusions
Subdivision
Prairie Hills
Lot features
Level, Paved, Curbs, Gutters, Sidewalks, Street Light, Fire Hydrant within 500 Feet
Directions
From I-25 and the Mead Exit/CR-34 go west 1 mile to1st Street, turn North. Property is in gated subidivision
Standard status
Active
APN
R8975267
Lot size
0.03 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
11266
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Radiant
Cooling system
Ceiling Fan(s)
Amenities
fresh water station
dump station
car wash
Building Details
Year built
2021
Building materials
Metal Siding, Ceiling: Over 20 Feet, Floor: Concrete, Floor: Sealed, Floor: Vinyl
Roof type
Metal
Listing Agency:
RE/MAX Nexus · RE/MAX International
(970) 295-4760
Listed By:
Abby Renner · License #ER40029855
(970) 556-0635
Added: May 25
Changed: Aug 19
Last Checked: Aug 24 at 3:06AM
MLS# 1059974
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 2021 flex-space condominium combines a 1,300-square-foot garage area with a 390-square-foot mezzanine. The unit has insulated construction, epoxy flooring, high-bay lights, radiant heat, a large ceiling fan, and a half bathroom. A 14-foot by 14-foot overhead garage door with opener supports access, while 220V/100-amp electrical service adds utility for workspace, storage, hobby, or office applications. The mezzanine has laminate flooring for additional usable space.
The property is located at 341 1st St in Mead, Colorado, approximately 1 mile west of I-25. The fenced community includes a fresh water station, dump station, and car wash. HOA services cover building insurance, road maintenance, and snow removal. The property is zoned Commercial and includes natural gas availability and public sewer.
The property is located at 341 1st St in Mead, Colorado, approximately 1 mile west of I-25. The fenced community includes a fresh water station, dump station, and car wash. HOA services cover building insurance, road maintenance, and snow removal. The property is zoned Commercial and includes natural gas availability and public sewer.
Key Highlights
- 1,300 SF garage area plus a 390 SF mezzanine
- 14' x 14' overhead garage door with opener
- 220V/100‑amp electrical service
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
Property Profile
Current Use
Lease Details
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Functional commercial unit with mezzanine, radiant heat, high-bay lighting, and secure fenced-community access.
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: 1,300 SF garage area plus a 390 SF mezzanine; 14' x 14' overhead garage door with opener; 220V/100‑amp electrical service
