Updated Corner
New
For Sale
$270,000
400 W Central Ave, Wiggins, CO 80654
Updated commercial building with retail frontage, storage, and a partial basement.
Property Size1,299 SF
Days on Market6
Property Features for 400 W Central Ave
General Information
Standard status
Active
Size
1,299 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$4,020
Building Details
Building Size
1,299 SF
Year Built
1929
Listing Agency:
Berkshire Hathaway HomeServices Rocky Mountain, Realtors-Greeley
(970) 231-0890
Listed By:
Mark Valdez · License #100040608
(970) 231-0890
Source:
Elliman
Added: Aug 16
Changed: Aug 17
Last Checked: Aug 20 at 9:04AM
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 Berkshire Hathaway HomeServices Rocky Mountain, Realtors-Greeley
Investment Insights
Based on property information with market context.
This corner storefront is a commercial building with a retail-facing front, display-ready walk-in cooler, storage room with wash sink, partial basement, entry patio lighting, and a separate storage shed. The property has been refreshed with a metal roof, interior paint, new flooring, updated lighting, replacement windows, a renovated bathroom, and a sewer line replaced from the building to the main. Fiber optic internet is also available.
Built in 1929, the building sits at 400 W Central Ave in Wiggins, Colorado, at the intersection of Main St and Central Ave. Its commercial district setting and prior use for floral and gift retail, butcher sales, and liquor sales provide documented context for its storefront configuration. Hudson is within 30 minutes, and Jackson Lake is 17 minutes away.
Built in 1929, the building sits at 400 W Central Ave in Wiggins, Colorado, at the intersection of Main St and Central Ave. Its commercial district setting and prior use for floral and gift retail, butcher sales, and liquor sales provide documented context for its storefront configuration. Hudson is within 30 minutes, and Jackson Lake is 17 minutes away.
Key Highlights
- Corner location at Main St & Central Ave in Wiggins, CO
- Large walk‑in cooler with display
- Commercial district setting with retail storefront
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
$13,067
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
4.84%
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%
$261,340
$261.3K
Cap Rate 7%
$186,671
$186.7K
Cap Rate 9%
$145,189
$145.2K
Market Conditions
NOI Build-Up for 1,299 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
$19.5K $15.00/SF
− Vacancy
−$818 −$0.63/SF
EGI
$18.7K $14.37/SF
− OpEx
−$5.6K −$4.31/SF
NOI
$13.1K $10.06/SF
Area
Morgan County, CO
Vacancy
4.20%
Lease Rate
$15.00 /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%
$261,340
Cap Rate 7%
$186,671
Cap Rate 9%
$145,189
Alternative Uses
Best Use
Retail
$186.7K
$163.3K – $217.8K
NOI $13,067 @ 7.0% cap · market cap 4.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$380.3K
$332.8K – $443.7K
NOI $26,624 @ 7.0% cap · market cap 9.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
134
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 80654, CO
3,230
Population
1,165
Households
2.8
Avg Household Size
35
Median Age
20%
College-Educated
89%
High-School Grad
234.9 sq mi
ZIP Area
14
Density / Sq Mi
$99,830
Median Household Income
$51,518
Median Earnings
$1,096
Median Rent
$396,500
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Updated commercial building with retail frontage, storage, and a partial basement.
Where is this storefront property located?
The property is located at 400 W Central Ave Wiggins, CO.
What is the asking price?
The asking price for this property is $270,000.
What are key features of this property?
This property features: Corner location at Main St & Central Ave in Wiggins, CO; Large walk‑in cooler with display; Commercial district setting with retail storefront
