Insulated Flex Space with Garage
For Sale
$300,000
341 1st Street #G7, Mead, CO 80542
Commercial garage condo with radiant heat, secure fencing, and flexible options for specialized vehicle or workshop use.
Property Size1,000 SF
Price / SF$300
Days on Market8
Property Features for 341 1st Street #G7
General Information
Standard status
Active
Size
1,000 SF
Property subtype
Commercial
Zoning
COMMERCIAL
Warehouse & Industrial
Power
100 amps
Voltage
220 V
Additional Details
Fenced Yard
Yes
Taxes and HOA fees
Annual Taxes
$4,000
Building Details
Building Size
1,000 SF
Year Built
2023
Listing Agency:
Remax Nexus
(970) 295-4760
Listed By:
Abby Renner · License #ER40029855
(970) 295-4760
Source:
Coloradopartners
Added: Aug 15
Changed: Aug 16
Last Checked: Aug 21 at 1:55PM
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 Remax Nexus
Investment Insights
Based on property information with market context.
Built in 2023, this 1,000-square-foot flex unit is configured as a commercial and industrial garage condo within Phase 1 of Building G. The fully insulated space includes radiant heat, a 14-foot garage door with opener, and 220-volt service with 100-amp capacity. Custom improvements available for the unit include vehicle lifts, a bathroom, epoxy flooring, a 300-square-foot mezzanine, cabinets, and counters.
The property is located at 341 1st Street #G7 in Mead, approximately one mile from I-25. The site is fully secured and fenced, with access to an onsite fresh water station, RV dump, and wash bay. The property carries COMMERCIAL zoning and is offered for sale or lease, with NNN lease structure noted in the source information.
The property is located at 341 1st Street #G7 in Mead, approximately one mile from I-25. The site is fully secured and fenced, with access to an onsite fresh water station, RV dump, and wash bay. The property carries COMMERCIAL zoning and is offered for sale or lease, with NNN lease structure noted in the source information.
Key Highlights
- 1,000‑square‑foot flex unit built in 2023
- 14‑foot garage door with opener
- 220‑volt, 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
$11,155
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
3.72%
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 3.72%
Second Best
Industrial
$127.4K
$111.5K – $148.6K
NOI $8,916 @ 7.0% cap · market cap 2.97%
Theoretical Best
Office B
$182.3K
$159.5K – $212.6K
NOI $12,758 @ 7.0% cap · market cap 4.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
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 - Commercial garage condo with radiant heat, secure fencing, and flexible options for specialized vehicle or workshop use.
Where is this flex space located?
The property is located at 341 1st Street #G7 Mead, CO.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: 1,000‑square‑foot flex unit built in 2023; 14‑foot garage door with opener; 220‑volt, 100‑amp electrical service
