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    Second-Floor Office/Studio Suite Title is generated by Realmo AI

    450 West Avenue, Rifle, CO 81650

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    For Sale
    $225,000

    COMMERCIAL - Rifle, CO

    Property size:
    1,065 SF
    Price / SF:
    $211/SF
    Added:
    Apr 27, 2026
    Days on Market:
    41
    Last Refresh:
    Jun 6 at 2:06 am

    Property Features for 450 West Avenue

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    CBD
    Standard status
    Active
    APN
    217716234006
    Size
    1,065 SF

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    SECTION: 16 TOWNSHIP: 6 RANGE: 93 DESC: A RESUB OF LOTS 23 & 24, BLK K ORIGINAL TOWNSITE SUBDIVISION: DOWNTOWN PROFESSIONAL
    Tax Annual Amount
    5417

    Building Details

    Year built
    2007
    Floors in Building
    1

    We can help!

    Listing Contact
    Kevin Atchison

    Listing agent Kevin Atchison

    Listing office Property Professionals 1430 Railroad Ave Unit A, Silt, CO

    Listing date Apr 27, 2026

    MLS# 192578

    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.

    HighLights

    • High visibility location near Railroad Avenue, Rifle's main corridor
    • Adaptable open‑concept layout suitable for various professional uses
    • Plumbing available for an additional private restroom
    • Elevator access for clients and staff
    • Surrounded by established local businesses
    • Built in 2007

    Overview

    Unit 202 is a bright, open-concept suite located on the second floor, designed for tenant customization. The space includes plumbing for an additional private restroom and is well-suited to a range of professional and services uses, including creative studio, salon, dental office, or general office work. Elevator access is provided for both clients and staff.

    The property is positioned near Railroad Avenue, Rifle’s main corridor, with visibility supported by its central location. The suite is surrounded by established local businesses, which can support day-to-day walk-in activity for compatible uses.

    This unit is a practical fit for an operator seeking an adaptable interior layout without giving up convenient client and staff access. For tenants or buyers who want the flexibility to shape the suite to their specific needs, the included restroom plumbing and the open plan provide a straightforward starting point within a CBD-zoned building.

    Local Financial Insights For Office B

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $23.4k $21.96
    − Vacancy −$3.3k −$3.07
    EGI $20.1k $18.89
    − OpEx −$5.0k −$4.72
    NOI $15.1k $14.16
    1,065 SF · lease $21.96/SF/yr · vacancy 14.00% · expense 25.00%

    Alternative Uses

    Best Use
    Office B
    $215.5K
    $188.6K – $251.4K (±1% cap)
    NOI $15,085 @ 7.0% cap · market cap 6.70%
    Second Best
    Healthcare Medical
    $187.5K
    $164.0K – $218.7K (±1% cap)
    NOI $13,122 @ 7.0% cap · market cap 5.83%
    Theoretical Best
    Office A
    $278.9K
    $244.1K – $325.4K (±1% cap)
    NOI $19,524 @ 7.0% cap · market cap 8.68%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Creative space

    Suggested Use

    Real Estate Agency Building Supply Law Firm Big Box & Wholesale Store Dental Office Restaurant Auto Repair Shop Hair Salon Gym & Fitness Center Auto Parts Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Rifle
    County
    Garfield
    State
    Colorado
    Longitude
    -107.784334
    Latitude
    39.533239

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    FAQs

    What type of property is this?
    Creative space - Open-concept second-floor suite with elevator access and plumbing for an additional private restroom.
    Where is this creative space located?
    The property is located at 450 West Avenue Rifle, 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: High visibility location near Railroad Avenue, Rifle's main corridor; Adaptable open‑concept layout suitable for various professional uses; Plumbing available for an additional private restroom
    (970) 379-0199
    We can help!
    Listing Contact
    Kevin Atchison
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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