Auto Shop with Included
New
For Sale
$350,000
510 Alter Street, Broomfield, CO 80020
B-2-zoned automotive property with a parking-lot shed and fixtures included in the sale.
Property Size2,024 SF
Days on Market3
Property Features for 510 Alter Street
General Information
Standard status
Active
Size
2,024 SF
Total Parking Spaces
1
Property subtype
Commercial
Zoning
B-2
Taxes and HOA fees
Annual Taxes
$5,902
Building Details
Building Size
2,024 SF
Year Built
1982
Units
1
Listing Agency:
Resident Realty South Metro
(303) 263-8171
Listed By:
Robert Balentine · License #100073330
(303) 263-8171
Source:
Coloradopartners
Added: Aug 9
Changed: Aug 10
Last Checked: Aug 10 at 7:26AM
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 Resident Realty South Metro
Investment Insights
Based on property information with market context.
This automotive property is offered in its existing as-is condition, with all fixtures and equipment included. A shed is also located in the parking lot. The property was built in 1982 and carries B-2 zoning.
The site is located at 510 Alter Street in Broomfield, Colorado. The sale is private and closed, with the MLS entry provided for informational purposes.
The site is located at 510 Alter Street in Broomfield, Colorado. The sale is private and closed, with the MLS entry provided for informational purposes.
Key Highlights
- Fixtures and equipment included with the property
- Shed located in the parking lot
- B‑2 zoning
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
$15,685
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
4.48%
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%
$313,700
$313.7K
Cap Rate 7%
$224,071
$224.1K
Cap Rate 9%
$174,278
$174.3K
Market Conditions
NOI Build-Up for 2,024 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
$23.4K $11.58/SF
− Vacancy
−$1.0K −$0.51/SF
EGI
$22.4K $11.07/SF
− OpEx
−$6.7K −$3.32/SF
NOI
$15.7K $7.75/SF
Area
Jefferson County, CO
Vacancy
4.40%
Lease Rate
$11.58 /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%
$313,700
Cap Rate 7%
$224,071
Cap Rate 9%
$174,278
Alternative Uses
Best Use
Retail
$461.8K
$404.1K – $538.8K
NOI $32,328 @ 7.0% cap · market cap 9.24%
Second Best
Industrial
$224.1K
$196.1K – $261.4K
NOI $15,685 @ 7.0% cap · market cap 4.48%
Theoretical Best
Multifamily LT 5
$4.50M
$3.94M – $5.25M
NOI $315,289 @ 7.0% cap · market cap 90.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,582
Businesses Nearby
34k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 72%
Shops & Services 28%
Wendy's
Dining
10,826 visits/mo
0.1 miles
First Watch
Dining
7,842 visits/mo
0.2 miles
Taco Bell
Dining
5,917 visits/mo
0.1 miles
Wells Fargo
Shops & Services
5,012 visits/mo
0.3 miles
Discount Tire Store
Shops & Services
2,888 visits/mo
0.5 miles
Demographics for 80020, CO
52,141
Population
21,607
Households
2.4
Avg Household Size
38
Median Age
53%
College-Educated
95%
High-School Grad
19.8 sq mi
ZIP Area
2,633
Density / Sq Mi
$114,039
Median Household Income
$58,056
Median Earnings
$2,024
Median Rent
$570,100
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Auto shop - B-2-zoned automotive property with a parking-lot shed and fixtures included in the sale.
Where is this auto shop located?
The property is located at 510 Alter Street Broomfield, CO.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Fixtures and equipment included with the property; Shed located in the parking lot; B‑2 zoning
