Mixed-Use Property With 7
For Sale
$3,200,000
390 Elm Rd, Estes Park, CO 80517
A varied building mix includes residential, storage, and commercial components under month-to-month leases.
Property Size10,841 SF
Lot Size12.00 Acres
Price / SF$295.18
Days on Market129
Property Features for 390 Elm Rd
General Information
Standard status
Active
Size
10,841 SF
Lot size
12.00 Acres
Building Details
Year Built
1981
Listing Agency:
Estes Park Team Realty
(970) 586-3838
Listed By:
Gerald D Mayo
Source:
Thestrohmangroup
Added: Apr 24
Changed: Aug 29
Last Checked: Aug 25 at 5:44AM
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 Estes Park Team Realty
Investment Insights
Based on property information with market context.
This 12-acre mixed-use property contains seven separate units in a combination of homes, apartments, duplexes, cabins, garages, storage areas, and commercial buildings. The improvements date to 1981, and several buildings have been remodeled. The buildings were also painted last summer.
Located in Estes Park, Colorado, the property sits in a mountain setting with sloped terrain and access provided by private roads and a dirt road. All leases are structured on a month-to-month basis, providing a consistent leasing arrangement across the existing components while preserving flexibility for future ownership decisions.
Located in Estes Park, Colorado, the property sits in a mountain setting with sloped terrain and access provided by private roads and a dirt road. All leases are structured on a month-to-month basis, providing a consistent leasing arrangement across the existing components while preserving flexibility for future ownership decisions.
Key Highlights
- 12‑acre mixed‑use property in Estes Park, Colorado
- Seven individual units across residential, storage, and commercial buildings
- Unit mix includes homes, apartments, duplexes, cabins, garages, and storage
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
$103,180
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
3.22%
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%
$2,063,600
$2.1M
Cap Rate 7%
$1,474,000
$1.5M
Cap Rate 9%
$1,146,444
$1.1M
Market Conditions
NOI Build-Up for 10,841 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
$196.4K $18.12/SF
− Vacancy
−$8.8K −$0.82/SF
EGI
$187.6K $17.30/SF
− OpEx
−$84.4K −$7.79/SF
NOI
$103.2K $9.52/SF
Area
Larimer County, CO
Vacancy
4.50%
Lease Rate
$18.12 /SF/Yr
Expense Ratio
45.00%
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%
$2,063,600
Cap Rate 7%
$1,474,000
Cap Rate 9%
$1,146,444
Alternative Uses
Best Use
Apartment 5plus
$1.47M
$1.29M – $1.72M
NOI $103,180 @ 7.0% cap · market cap 3.22%
Second Best
Mixed Use
$1.23M
$1.07M – $1.43M
NOI $85,834 @ 7.0% cap · market cap 2.68%
Theoretical Best
Office A
$2.91M
$2.55M – $3.39M
NOI $203,693 @ 7.0% cap · market cap 6.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
136
Businesses Nearby
Explore this area
Business Placement
Demographics for 80517, CO
9,720
Population
7,043
Households
1.4
Avg Household Size
55
Median Age
55%
College-Educated
97%
High-School Grad
297.2 sq mi
ZIP Area
33
Density / Sq Mi
$89,659
Median Household Income
$40,919
Median Earnings
$1,451
Median Rent
$670,200
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - A varied building mix includes residential, storage, and commercial components under month-to-month leases.
Where is this mixed-use property located?
The property is located at 390 Elm Rd Estes Park, CO.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: 12‑acre mixed‑use property in Estes Park, Colorado; Seven individual units across residential, storage, and commercial buildings; Unit mix includes homes, apartments, duplexes, cabins, garages, and storage
