Garage Condo with 220V
New
For Sale
$225,000
3774 Rowe Street #1, Erie, CO 80516
Private bathroom, kitchenette, overhead garage door, and climate control support a range of practical workspace uses.
Property Size831 SF
Price / SF$281.25
Days on Market3
Property Features for 3774 Rowe Street #1
General Information
Standard status
Active
Size
831 SF
Class
B
Total Parking Spaces
1
Property subtype
Commercial
Zoning
Commercial
Additional Details
Voltage
220 V
Taxes and HOA fees
Annual Taxes
$3,238
Building Details
Building Size
831 SF
Year Built
2017
Units
1
Listing Agency:
Price & Co. Real Estate
(303) 956-9691
Listed By:
Andrea Price · License #100032406
(303) 956-9691
Source:
Coloradopartners
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 10 at 11:16AM
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 Price & Co. Real Estate
Investment Insights
Based on property information with market context.
This commercial-zoned flex-space condo combines an enclosed garage with features suited to work, storage, and personal projects. The unit measures just over 800 square feet and includes a large overhead garage door, private bathroom, and compact kitchenette. Heating and air conditioning provide year-round interior comfort, while 220V electrical service accommodates equipment and heavier-duty tools.
Constructed in 2017, the property offers a self-contained setup within a garage-condo complex. Its combination of open garage area, utility features, and finished conveniences can support uses such as equipment storage, a private office, or a personal workshop where permitted.
Constructed in 2017, the property offers a self-contained setup within a garage-condo complex. Its combination of open garage area, utility features, and finished conveniences can support uses such as equipment storage, a private office, or a personal workshop where permitted.
Key Highlights
- >800 square feet of interior space
- Large overhead garage door
- Private bathroom and small kitchenette
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
$11,775
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
5.23%
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%
$235,500
$235.5K
Cap Rate 7%
$168,214
$168.2K
Cap Rate 9%
$130,833
$130.8K
Market Conditions
NOI Build-Up for 800 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
$14.4K $18.00/SF
− Vacancy
−$547 −$0.68/SF
EGI
$13.9K $17.32/SF
− OpEx
−$2.1K −$2.60/SF
NOI
$11.8K $14.72/SF
Area
Boulder County, CO
Vacancy
3.80%
Lease Rate
$18.00 /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%
$235,500
Cap Rate 7%
$168,214
Cap Rate 9%
$130,833
Alternative Uses
Best Use
Warehouse
$168.2K
$147.2K – $196.3K
NOI $11,775 @ 7.0% cap · market cap 5.23%
Second Best
Office B
$151.9K
$132.9K – $177.2K
NOI $10,633 @ 7.0% cap · market cap 4.73%
Theoretical Best
Office A
$241.4K
$211.2K – $281.6K
NOI $16,896 @ 7.0% cap · market cap 7.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
37
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 80516, CO
34,376
Population
13,163
Households
2.6
Avg Household Size
37
Median Age
64%
College-Educated
97%
High-School Grad
40.5 sq mi
ZIP Area
849
Density / Sq Mi
$160,590
Median Household Income
$75,277
Median Earnings
$2,718
Median Rent
$683,600
Median Home Value
Market
Vacancy Rate% for Office 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 - Private bathroom, kitchenette, overhead garage door, and climate control support a range of practical workspace uses.
Where is this flex space located?
The property is located at 3774 Rowe Street #1 Erie, CO.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: >800 square feet of interior space; Large overhead garage door; Private bathroom and small kitchenette
