Ultimate Garage Club
For Sale
$397,000
341 1st #E-1, Mead, CO 80542
Unique garage condo with mezzanine, ideal for enthusiasts.
Property Size1,690 SF
Price / SF$234.91
Days on Market76
Property Features for 341 1st #E-1
General Information
Standard status
Active
Size
1,690 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$11,266
Amenities
Central air
Metal Roof
Ceiling Fan(s) Cooling
Covenants
Curbs
Fire Hydrant within 500 Feet
Gutters
Level
Level Drive
Level Lot
Loading: Drive-in
Paved
Paved Parking
Radiant Heating
Sidewalks
Street Light
Building Details
Year Built
2021
Listing Agency:
RE/MAX Nexus
(970) 295-4760
Listed By:
ABBY RENNER · License #40029855
Source:
Corcoran
Added: May 26
Changed: Aug 8
Last Checked: May 27 at 7:30AM
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 at The Ultimate Garage Club offers a premium "Personal Cave" style space designed for enthusiasts, hobbyists, storage, or workspace flexibility. The unit features durable epoxy floors, high-bay lighting, radiant heat, a super-sized ceiling fan, and fully insulated construction for year-round comfort. The 390 sq. ft. mezzanine includes laminate flooring, providing added versatility for office, lounge, or storage use. Additional highlights include a 1/2 bathroom, oversized 14' x 14' garage door with opener, and 220V/100-amp electrical service. Located within a fully secure, fenced community, owners enjoy exclusive on-site amenities including a fresh water station, dump station, and car wash. HOA services provide added convenience by covering building insurance, road maintenance, and snow removal. The property is situated just 1 mile west of I-25, offering easy commuter access and a prime location for both work and recreation. The unit is the Sledgehammer Model, offering 1300 SF + 390 SF Mezzanine.
Key Highlights
- Sledgehammer Model: 1300 SF + 390 SF Mezzanine - a premium "Personal Cave" style space.
- Secure, fenced community with exclusive on‑site amenities including a fresh water station, dump station, and car wash.
- Upgraded Features:** Durable epoxy floors, high‑bay lighting, radiant heat, super‑sized ceiling fan, and fully insulated construction.
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
$19,101
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
4.81%
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%
$382,020
$382.0K
Cap Rate 7%
$272,871
$272.9K
Cap Rate 9%
$212,233
$212.2K
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
$30.4K $18.00/SF
− Vacancy
−$3.1K −$1.85/SF
EGI
$27.3K $16.15/SF
− OpEx
−$8.2K −$4.84/SF
NOI
$19.1K $11.30/SF
Area
Weld County, CO
Vacancy
10.30%
Lease Rate
$18.00 /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%
$382,020
Cap Rate 7%
$272,871
Cap Rate 9%
$212,233
Alternative Uses
Best Use
Retail
$272.9K
$238.8K – $318.4K
NOI $19,101 @ 7.0% cap · market cap 4.81%
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
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.
Similar Off Market Nearby
- U-Haul Neighborhood Dealer — 341 1st St, Mead, CO 80542
Frequently Asked Questions
What type of property is this?
Parking lot & garage - Unique garage condo with mezzanine, ideal for enthusiasts.
Where is this parking lot & garage located?
The property is located at 341 1st #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: Sledgehammer Model: **1300 SF + 390 SF Mezzanine** - a premium "Personal Cave" style space.; Secure, fenced community with exclusive on‑site amenities including a fresh water station, dump station, and car wash.; Upgraded Features:** Durable epoxy floors, high‑bay lighting, radiant heat, super‑sized ceiling fan, and fully insulated construction.
