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Building Details

Building Size 5,022 SF

Year Built 1995

Tenancy Single

Owner Occupied No

Listing Agency: Unique Properties, Inc.

Listed By: Marc S. Lippitt · License #ER.000183921 Show Phone

Source: Uniqueprop

Added: Jun 25 Changed: Oct 5 Last Checked: Oct 14 at 8:59PM

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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 Unique Properties, Inc.

Investment Insights

Based on property information with market context.

Built in 1995, this office building at 352 Lake Dillon Dr in Dillon, Colorado, is occupied by the Summit County Public Defenders Office. The property overlooks Lake Dillon and offers mountain views, along with ample parking and building access.

The lease extends through August 2035 and includes 3% annual increases. The State of Colorado guarantees the lease, while landlord responsibilities include the roof and structure. Operating expense protections are also included in the lease structure.

Key Highlights

• Lease extends through August 2035 with 3% annual increases
• Summit County Public Defenders Office tenancy
• Lease guaranteed by the State of Colorado

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$84,520

Cap Rate

3.56%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,690,400 $1.7M

Cap Rate 7%

$1,207,429 $1.2M

Cap Rate 9%

$939,111 $939.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,022 SF

Gross rent

$132.6K $26.40/SF

− Vacancy

−$19.9K −$3.96/SF

EGI

$112.7K $22.44/SF

− OpEx

−$28.2K −$5.61/SF

NOI

$84.5K $16.83/SF

Area

Summit County, CO

Vacancy

15.00%

Lease Rate

$26.40 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,690,400

Cap Rate 7%

$1,207,429

Cap Rate 9%

$939,111

Alternative Uses

Best Use

Office B

$1.21M

$1.06M – $1.41M (±1% cap)

NOI $84,520 @ 7.0% cap · market cap 3.56%

Second Best

—

—

no second resolved use

Theoretical Best

Warehouse

$99.96M

$87.46M – $116.62M (±1% cap)

NOI $6,996,977 @ 7.0% cap · market cap 294.61%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Office buildings

Suggested Use

Top Pick Carpet & Flooring Store Parking Lot & Garage Locksmith (Bike/Boat/Book/etc) Store Grocery & Convenience Store Tattoo & Piercing Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Single-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

633

Businesses Nearby

Explore this area Business Placement

Demographics for 80435, CO

8,344

Population

7,778

Households

1.1

Avg Household Size

36

Median Age

53%

College-Educated

97%

High-School Grad

104.0 sq mi

ZIP Area

80

Density / Sq Mi

$86,023

Median Household Income

$48,554

Median Earnings

$1,539

Median Rent

$882,100

Median Home Value

Market

Vacancy Rate% for Office in West region

11% 2019

14.1% 2020

15.5% 2021

17.2% 2022

19.9% 2023

21% 2024

20.8% 2025

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Frequently Asked Questions

What type of property is this?

Office building - Occupied by the Summit County Public Defenders Office under a long-term government lease.

Where is this office building located?

The property is located at 352 Lake Dillon Dr Dillon, CO.

What is the asking price?

The asking price for this property is $2,375,000.

What are key features of this property?

This property features: Lease extends through August 2035 with 3% annual increases; Summit County Public Defenders Office tenancy; Lease guaranteed by the State of Colorado