Mixed-Use Property with Medical Office
For Sale
$650,000
56620 E Colfax Ave, Strasburg, CO 80136
Remodeled areas, a renovated basement, and commercial medical office zoning support flexible occupancy options.
Property Size3,450 SF
Days on Market42
Property Features for 56620 E Colfax Ave
General Information
Standard status
Active
Size
3,450 SF
Property subtype
Commercial
Occupancy
100%
Additional Details
Furnished
Yes
Taxes and HOA fees
Annual Taxes
$11,760
Building Details
Building Size
3,450 SF
Year Built
1950
Units
3
Tenancy
Multi
Listing Agency:
HomeSmart
(720) 431-7454
Listed By:
Stabler Fahey · License #ER.001321945
(720) 431-7454
Source:
Elliman
Added: Jul 21
Changed: Aug 31
Last Checked: May 10 at 5:45AM
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 HomeSmart
Investment Insights
Based on property information with market context.
Built in 1950, this 2,501-square-foot mixed-use property includes commercial medical office zoning and a configuration suited to continued leasing or owner occupancy. One side has been newly remodeled, while renovation work is underway on the other. The basement has been fully renovated and includes some furniture. A steel roof and vinyl siding complete the building improvements.
The property is located at 56620 E Colfax Ave in Strasburg, Colorado. It has remained fully leased for 10+ years, with an option for an additional lease or use by an owner-operated business. The existing layout and ongoing improvements provide a combination of established occupancy and updated interior areas.
The property is located at 56620 E Colfax Ave in Strasburg, Colorado. It has remained fully leased for 10+ years, with an option for an additional lease or use by an owner-operated business. The existing layout and ongoing improvements provide a combination of established occupancy and updated interior areas.
Key Highlights
- 2,501‑square‑foot mixed‑use property built in 1950
- Commercial medical office zoning
- Fully leased for 10+ years
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
$31,440
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%
$628,800
$628.8K
Cap Rate 7%
$449,143
$449.1K
Cap Rate 9%
$349,333
$349.3K
Market Conditions
NOI Build-Up for 3,450 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
$61.3K $17.76/SF
− Vacancy
−$11.0K −$3.18/SF
EGI
$50.3K $14.58/SF
− OpEx
−$18.9K −$5.47/SF
NOI
$31.4K $9.11/SF
Area
Adams County, CO
Vacancy
17.90%
Lease Rate
$17.76 /SF/Yr
Expense Ratio
37.50%
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%
$628,800
Cap Rate 7%
$449,143
Cap Rate 9%
$349,333
Alternative Uses
Best Use
Office B
$891.6K
$780.1K – $1.04M
NOI $62,411 @ 7.0% cap · market cap 9.60%
Second Best
Mixed Use
$449.1K
$393.0K – $524.0K
NOI $31,440 @ 7.0% cap · market cap 4.84%
Theoretical Best
Multifamily LT 5
$50.76M
$44.42M – $59.22M
NOI $3,553,202 @ 7.0% cap · market cap 546.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
247
Businesses Nearby
Explore this area
Business Placement
Demographics for 80136, CO
6,028
Population
2,012
Households
3
Avg Household Size
39
Median Age
23%
College-Educated
96%
High-School Grad
211.8 sq mi
ZIP Area
28
Density / Sq Mi
$110,435
Median Household Income
$49,857
Median Earnings
$1,234
Median Rent
$495,700
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?
Mixed-use property - Remodeled areas, a renovated basement, and commercial medical office zoning support flexible occupancy options.
Where is this mixed-use property located?
The property is located at 56620 E Colfax Ave Strasburg, CO.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 2,501‑square‑foot mixed‑use property built in 1950; Commercial medical office zoning; Fully leased for 10+ years
