Flex Space Garage
For Sale
$397,000
341 1st #E1, Mead, CO 80542
Insulated garage condominium with mezzanine space, dedicated electrical service, and access to secure community amenities.
Property Size1,300 SF
Price / SF$305.38
Days on Market112
Property Features for 341 1st #E1
General Information
Standard status
Active
Size
1,300 SF
Property subtype
Commercial
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Warehouse & Industrial
Mezzanine
390 SF
Drive-In Doors
1
Power
100 amps
Voltage
220 V
Taxes and HOA fees
Annual Taxes
$11,266
Amenities
fresh water station
dump station
car wash
Metal Roof
Building Details
Year Built
2021
Listing Agency:
RE/MAX NEXUS
Listed By:
ABBY RENNER · License #ER40029855
(970) 556-0635
Source:
Corcoran
Added: May 31
Changed: Sep 18
Last Checked: Sep 18 at 3:20PM
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 2021 flex space garage condo combines a durable work area with additional finished space above. The unit includes 1300 SF plus a 390 SF mezzanine with laminate flooring, epoxy floors, high-bay lighting, radiant heat, a large ceiling fan, and insulated construction. A half bathroom, 14' x 14' garage door with opener, and 220V/100-amp electrical service support a range of storage, hobby, office, and workspace uses.
The property is located at The Ultimate Garage Club, a fenced community positioned 1 mile west of I-25. On-site amenities include a fresh water station, dump station, and car wash. HOA services cover building insurance, road maintenance, and snow removal.
The property is located at The Ultimate Garage Club, a fenced community positioned 1 mile west of I-25. On-site amenities include a fresh water station, dump station, and car wash. HOA services cover building insurance, road maintenance, and snow removal.
Key Highlights
- 1300 SF plus 390 SF mezzanine
- 14' x 14' 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
$11,591
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
2.92%
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%
$231,820
$231.8K
Cap Rate 7%
$165,586
$165.6K
Cap Rate 9%
$128,789
$128.8K
Market Conditions
NOI Build-Up for 1,300 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
$17.9K $13.80/SF
− Vacancy
−$1.4K −$1.06/SF
EGI
$16.6K $12.74/SF
− OpEx
−$5.0K −$3.82/SF
NOI
$11.6K $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 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%
$231,820
Cap Rate 7%
$165,586
Cap Rate 9%
$128,789
Alternative Uses
Best Use
Industrial
$165.6K
$144.9K – $193.2K
NOI $11,591 @ 7.0% cap · market cap 2.92%
Second Best
Flex RnD
$153.8K
$134.5K – $179.4K
NOI $10,763 @ 7.0% cap · market cap 2.71%
Theoretical Best
Office B
$236.9K
$207.3K – $276.4K
NOI $16,585 @ 7.0% cap · market cap 4.18%
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
Fenced yard
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
View Realmo Analytics
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 - Insulated garage condominium with mezzanine space, dedicated electrical service, and access to secure community amenities.
Where is this flex space located?
The property is located at 341 1st #E1 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: 1300 SF plus 390 SF mezzanine; 14' x 14' garage door with opener; 220V/100‑amp electrical service
