Mixed-Use Property with
For Sale
$4,200,000
515 Red Table Drive, Gypsum, CO 81637
Renovated front showroom, garage bays, apartments, office space, storage, and on-site parking support multiple commercial configurations.
Property Size10,500 SF
Price / SF$400
Days on Market48
Property Features for 515 Red Table Drive
General Information
Standard status
Active
Size
10,500 SF
Total Parking Spaces
32
Property subtype
Commercial
Zoning
mixed use
Additional Details
Road Access
Yes
Multifamily Units
3
Building Details
Year Built
2001
Buildings
1
Listing Agency:
Slifer Smith & Frampton - Hyatt
Listed By:
Dana Correia · License #1724
(970) 390-3141
Source:
Thesmitsteam
Added: Sep 16
Changed: Oct 25
Last Checked: Nov 1 at 2:55AM
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 Slifer Smith & Frampton - Hyatt
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Investment Insights
Based on property information with market context.
Located at 515 Red Table Drive in Gypsum, this mixed-use property combines a renovated front showroom and storefront with three garage bays, a business office, storage, and three residential apartments. The building was constructed in 2001 and includes approximately 10,500 square feet of space. Garage bays feature approximately 14'6" overhead doors, while 32 parking spaces provide on-site parking for occupants and visitors.
The property sits at the end of a cul-de-sac with direct connection to Cooley Mesa Rd. It is approximately seven minutes from Costco, the Eagle County Airport, and the Eagle County business district. Mixed-use zoning supports the property's combination of commercial and residential components.
The property sits at the end of a cul-de-sac with direct connection to Cooley Mesa Rd. It is approximately seven minutes from Costco, the Eagle County Airport, and the Eagle County business district. Mixed-use zoning supports the property's combination of commercial and residential components.
Key Highlights
- Approximately 10,500 square feet of mixed‑use space
- Renovated front showroom and storefront
- Three garage bays with approximately 14'6" overhead doors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$147,160
Cap Rate
3.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,943,200
$2.9M
Cap Rate 7%
$2,102,286
$2.1M
Cap Rate 9%
$1,635,111
$1.6M
Market Conditions
NOI Build-Up for 10,500 SF
Gross rent
$221.8K $21.12/SF
− Vacancy
−$11.5K −$1.10/SF
EGI
$210.2K $20.02/SF
− OpEx
−$63.1K −$6.01/SF
NOI
$147.2K $14.02/SF
Area
Eagle County, CO
Vacancy
5.20%
Lease Rate
$21.12 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,943,200
Cap Rate 7%
$2,102,286
Cap Rate 9%
$1,635,111
Alternative Uses
Best Use
Retail
$2.10M
$1.84M – $2.45M
NOI $147,160 @ 7.0% cap · market cap 3.50%
Second Best
Apartment 5plus
$1.88M
$1.65M – $2.20M
NOI $131,843 @ 7.0% cap · market cap 3.14%
Theoretical Best
Office A
$2.88M
$2.52M – $3.36M
NOI $201,600 @ 7.0% cap · market cap 4.80%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
3
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
5
Businesses Nearby
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Business Placement
Demographics for 81637, CO
9,845
Population
3,291
Households
3
Avg Household Size
34
Median Age
31%
College-Educated
84%
High-School Grad
787.3 sq mi
ZIP Area
13
Density / Sq Mi
$108,556
Median Household Income
$47,262
Median Earnings
$2,162
Median Rent
$549,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Renovated front showroom, garage bays, apartments, office space, storage, and on-site parking support multiple commercial configurations.
Where is this mixed-use property located?
The property is located at 515 Red Table Drive Gypsum, CO.
What is the asking price?
The asking price for this property is $4,200,000.
What are key features of this property?
This property features: Approximately 10,500 square feet of mixed‑use space; Renovated front showroom and storefront; Three garage bays with approximately 14'6" overhead doors
