Lower-Level Office
New
For Sale
$235,000
450 West Avenue, Rifle, CO 81650
Commercial Sale, Rifle, CO
Property Size1,074 SF
Price / SF$218.81
Days on Market2
Property Features for 450 West Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CBD
Subdivision
Downtown Professional Building
Directions
From Railroad Ave take a left on W 4th St. then a right on West Ave. The building is on your right.
Standard status
Active
APN
217716234002
Size
1,074 SF
Taxes and HOA fees
Tax Year
2025
Tax Description
Unit 102, DOWNTOWN PROFESSIONAL BUILDING CONDOMINIUMS, according to the Plat thereof filed September 20, 2007 as Reception No. 733577, and as defined and described in the Condominium Declaration recorded September 20, 2007 as Reception No. 733578.
Tax Annual Amount
5462
Legal Description
Unit 102, DOWNTOWN PROFESSIONAL BUILDING CONDOMINIUMS, according to the Plat thereof filed September 20, 2007 as Reception No. 733577, and as defined and described in the Condominium Declaration recorded September 20, 2007 as Reception No. 733578.
Utilities
Water source
Public
Amenities
full bathroom
kitchenette
Building Details
Year built
2007
Building materials
Frame
Listing Agency:
Coldwell Banker Mason Morse-GWS · Coldwell Banker Real Estate
(970) 928-9000
Listed By:
Joy White
(970) 366-9636
Added: Sep 5
Last Checked: Sep 6 at 4:06AM
MLS# 194458
Copyright © 2026 Aspen Glenwood MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This lower-level office unit provides 1,074 square feet of commercial space in a frame-built property completed in 2007. The layout includes a full bathroom and kitchenette, supporting a range of office-oriented business uses. Public water service is in place, and the property carries CBD zoning.
The unit is located in downtown Rifle, with walkable access to a local park, coffee shops, and eateries. Off-street parking is available for visitors and occupants.
The unit is located in downtown Rifle, with walkable access to a local park, coffee shops, and eateries. Off-street parking is available for visitors and occupants.
Key Highlights
- 1,074 SF lower‑level office unit
- CBD zoning supports downtown commercial use
- Full bathroom and kitchenette included
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
$15,212
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
6.47%
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%
$304,240
$304.2K
Cap Rate 7%
$217,314
$217.3K
Cap Rate 9%
$169,022
$169.0K
Market Conditions
NOI Build-Up for 1,074 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
$23.6K $21.96/SF
− Vacancy
−$3.3K −$3.07/SF
EGI
$20.3K $18.89/SF
− OpEx
−$5.1K −$4.72/SF
NOI
$15.2K $14.16/SF
Area
Garfield County, CO
Vacancy
14.00%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
25.00%
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%
$304,240
Cap Rate 7%
$217,314
Cap Rate 9%
$169,022
Alternative Uses
Best Use
Office B
$217.3K
$190.2K – $253.5K
NOI $15,212 @ 7.0% cap · market cap 6.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$281.3K
$246.1K – $328.2K
NOI $19,689 @ 7.0% cap · market cap 8.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
609
Businesses Nearby
Explore this area
Business Placement
Demographics for 81650, CO
14,336
Population
5,088
Households
2.8
Avg Household Size
34
Median Age
17%
College-Educated
85%
High-School Grad
1,022.7 sq mi
ZIP Area
14
Density / Sq Mi
$81,506
Median Household Income
$41,982
Median Earnings
$1,236
Median Rent
$397,100
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?
Office units - CBD-zoned commercial space with a private bathroom, kitchenette, and off-street parking.
Where is this office units located?
The property is located at 450 West Avenue Rifle, CO.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: 1,074 SF lower‑level office unit; CBD zoning supports downtown commercial use; Full bathroom and kitchenette included
